Latvia's industrial production down 0.3% in February

Central Statistical Bureau calendar adjusted data at constant prices, published on April 3, show that, compared to February 2023, in February 2024 industrial production output fell by 0.3 %.

 Output in manufacturing fell by 5.0 % while in electricity and gas supply rose by 12.7 % and in mining and quarrying by 29.4 %.

The most reduced industrial production output was registered in the manufacture of furniture (16.6 %), the manufacture of machinery and equipment (14.0 %), the manufacture of computer, electronic and optical products (13.8 %), the manufacture of beverages (13.4 %), and manufacture of wearing apparel (8.4 %). Lower output was also recorded in two out of three sectors having the largest share in manufacturing: the manufacture of fabricated metal products, except machinery and equipment, and the manufacture of food products (10.3 % and 2.0 %, respectively).

Increased output was registered in the manufacture of chemicals and chemical products (20.0 %), printing and reproduction of recorded media (18.4 %), manufacture of motor vehicles, trailers, and semi-trailers (12.6 %), as well as repair and installation of machinery and equipment (12.2 %). Rise was also recorded in the manufacturing sector having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture (0.2 %).

Compared to January 2024, in February 2024 industrial production output went up by 2.8 % (seasonally adjusted data at constant prices). In manufacturing it rose by 1.2 %, in electricity and gas supply by 11.1 %, and in mining and quarrying by 9.9 %.

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Compared to February 2023, in February 2024 manufacturing turnover reduced by 6.0 % (calendar adjusted data at current prices). Turnover on domestic market fell by 7.4 % and on non-domestic market by 5.3 % (of which by 1.1 % in euro area and by 8.7 % in non-euro area).

Compared to January 2024, in February 2024 manufacturing turnover fell by 1.8 % (seasonally adjusted data). Turnover on domestic market went down by 1.2 % and on non-domestic market by 2.2 % (of which by 3.3 % in euro area and by 1.2 % in non-euro area).

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