Latvian manufacturing turnover down in June

Central Statistical Bureau data published August 3 show that, compared to June 2022, in June 2023 industrial production output reduced by 5.0 % (calendar adjusted). 

Industrial production output fell in two out of three sectors having the largest share in manufacturing: manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of fabricated metal products, except machinery and equipment (by 7.0 % and 4.5 %, respectively). 

Compared to May 2023, in June 2023 industrial production output rose by 0.6 % (according to seasonally adjusted data at constant prices). Output in manufacturing increased by 0.6 % and in electricity and gas supply by 3.5 %, while in mining and quarrying there was a reduction of 6.0 %.

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Meanwhile manufacturing turnover was down in both the annual and monthly indicators. Compared to June 2022, in June 2023 manufacturing turnover reduced by 2.8 % (according to calendar adjusted data at current prices). Turnover on the domestic market went down by 4.9 % and in exports by 1.6 %.

Compared to May 2023, in June 2023 manufacturing turnover fell by 3.7 % (according to seasonally adjusted data). Turnover on the domestic market reduced by 3.8 % and in exports by 3.7 %.

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