Latvia's industrial production down 2% in September

New Central Statistical Bureau (calendar adjusted) data at constant prices show that, compared to September 2023, in September 2024 industrial production output reduced by 2.0 %. 

Output in manufacturing went down by 0.6 % and in electricity and gas supply by 4.6 %. However, output in mining and quarrying went up by 17.4 %.

Reduced industrial production output was registered in manufacture of motor vehicles, trailers and semi-trailers (21.5 %), manufacture of machinery and equipment (11.9 %), manufacture of chemicals and chemical products (9.7 %), manufacture of computer, electronic and optical products (6.7 %), and manufacture of electrical equipment (3.7 %). Reduced output was also registered in the three sectors having the largest share in manufacturing: manufacture of food products (3.2 %), manufacture of fabricated metal products, except machinery and equipment (2.9 %), and manufacture of wood and of products of wood and cork, except furniture (0.8 %).

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Increased industrial production output was registered in manufacture of furniture (19.2 %), manufacture of other non-metallic mineral products (16.0 %), repair and installation of machinery and equipment (13.7 %), printing and reproduction of recorded media (10.1 %), manufacture of wearing apparel (9.7 %), manufacture of paper and paper products (7.4 %), and manufacture of textiles (7.4 %).

Compared to August 2024, in September 2024 industrial production output reduced by 1.3 % (seasonally adjusted data at constant prices). In electricity and gas supply it fell by 9.3 %, while manufacturing as well as mining and quarrying rose by 0.2 % and 11.2 %, respectively.

Compared to September 2023, in September 2024 manufacturing turnover reduced by 3.6 % (calendar adjusted data at current prices). Turnover on the domestic market went up by 1.7 % while on the non-domestic market it was down by 6.3 % (of which rise of 1.8 % in euro area and drop of 12.8 % in non-euro area).

Compared to August 2024, in September 2024 manufacturing turnover reduced by 2.5 % (seasonally adjusted data). Turnover on the domestic market went down by 1.8 % and on the non-domestic market by 7.2 % (of which rise of 2.6 % in euro area and drop of 7.6 % in non-euro area).

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