Industrial production down 2.7% on year in Latvia

Central Statistical Bureau calendar adjusted data published November 3 show that, compared to September 2022, in September 2023 industrial production output reduced by 2.7 %. 

Output in mining and quarrying fell by 20.9 %, in manufacturing by 4.6 %, while in electricity and gas supply rose by 18.3 %.

Output downturn was observed in the sector having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture (of 6.2 %). Output reduction was also recorded in printing and reproduction of recorded media (28.0 %), manufacture of other non-metallic mineral products (17.3 %), manufacture of motor vehicles, trailers and semi-trailers (parts and accessories for motor vehicles) (17.0 %), manufacture of paper and paper products (11.1 %), manufacture of beverages (10.9 %), as well as manufacture of chemicals and chemical products (6.7 %).

Industrial production output upturn was registered in two out of three sectors having the largest share in manufacturing – manufacture of food products and manufacture of fabricated metal products, except machinery and equipment (of 6.0 % and 3.0 %, respectively). Output increase was also registered in repair and installation of machinery and equipment (38.5 %), manufacture of electrical equipment (6.1 %), manufacture of computer, electronic and optical products (1.2 %),  as well as manufacture of machinery and equipment (1.1 %).

Compared to August 2023, in September 2023 industrial production output rose by 0.5 % (seasonally adjusted data at constant prices). Output in mining and quarrying increased by 6.1 %, in electricity and gas supply by 3.8 %, while in manufacturing reduced by 0.4 %.

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Compared to September 2022, in September 2023 manufacturing turnover reduced by 7.3 % (calendar adjusted data at current prices). Turnover on domestic market went down by 8.0 % and on non-domestic market by 6.9 % (of which by 10.7 % in euro area and by 3.5 % in non-euro area).

Compared to August 2023, in September 2023 manufacturing turnover rose by 0.3 % (seasonally adjusted data). Turnover on the domestic market increased by 0.5 % and on non-domestic market by 0.2 % (of which drop of 5.2 % in euro area and increase of 5.0 % in non-euro area).

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