November industrial production down on year in Latvia

Central Statistical Bureau calendar adjusted data at constant prices, published January 3, show that, compared to November 2022, in November 2023 industrial production output reduced by 3.4 %. 

Output in mining and quarrying fell by 9.7 %, in manufacturing by 1.8 %, and in electricity and gas supply by 9.6 %.

The most significant output downturn was observed in manufacture of furniture (22.1 %), followed by printing and reproduction of recorded media (20.6 %), manufacture of wearing apparel (15.4 %), manufacture of other non-metallic mineral products (13.4 %), manufacture of beverages (12.6 %), and manufacture of chemicals and chemical products (10.4 %). Output in the manufacture of fabricated metal products, except machinery and equipment, which is a sector having the third largest share in manufacturing, reduced by 2.0 %.

Industrial production output upturn was registered in the manufacture of machinery and equipment (10.9 %), the manufacture of computer, electronic and optical products (6.0 %), the manufacture of electrical equipment (4.0 %), and the manufacture of paper and paper products (1.9 %). Output increase was also recorded in two out of three sectors having the largest share in manufacturing: the manufacture of food products and the manufacture of wood and of products of wood and cork, except furniture (6.1 % and 1.3 %, respectively).

Compared to October 2023, in November 2023 industrial production output fell by 0.9 % (seasonally adjusted data at constant prices). Output in manufacturing increased by 2.2 %, while in electricity and gas supply as well as mining and quarrying reduced by 9.2 % and 3.8 %, respectively.

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Compared to November 2022, in November 2023 manufacturing turnover reduced by 3.4 % (calendar adjusted data at current prices). Turnover on the domestic market fell by 2.6 % and on the non-domestic market by 3.9 % (of which drop of 12.2 % in euro area and rise of 3.4 % in non-euro area).

Compared to October 2023, in November 2023 manufacturing turnover rose by 5.3 % (seasonally adjusted data). Turnover on domestic market went up by 5.4 % and on non-domestic market by 5.3 % (of which by 0.1 % in euro area and by 9.4 % in non-euro area).

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