October industrial production figures down 0.5% in Latvia

Central Statistical Bureau calendar-adjusted data at constant prices, published on December 4, show that, compared to October 2022, in October 2023 industrial production output increased by 0.5 %.

Output in mining and quarrying reduced by 22.9 %, in manufacturing by 3.9 %, while in electricity and gas supply increased by 40.4 %.

Output downturn was observed in two out of three sectors having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture and manufacture of fabricated metal products, except machinery and equipment (3.6 % and 8.4 %, respectively). 

Industrial production output upturn was registered in the sector having the second largest share in manufacturing – manufacture of food products (5.8 %). Output increase was also registered in repair and installation of machinery and equipment (12.6 %), manufacture of electrical equipment (10.6 %), manufacture of chemicals and chemical products (0.8 %), as well as manufacture of machinery and equipment (0.1 %).

Compared to September 2023, in October 2023 industrial production output rose by 1.5 % (seasonally adjusted data at constant prices). Output in manufacturing increased by 0.2 %, in electricity and gas supply by 14.8 %, while in mining and quarrying reduced by 0.9 %.

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Compared to October 2022, in October 2023 manufacturing turnover reduced by 9.2 % (calendar adjusted data at current prices). Turnover on domestic market went down by 9.6 % and on non-domestic market by 9.1 % (of which by 13.2 % in euro area and by 5.4 % in non-euro area).

Compared to September 2023, in October 2023 manufacturing turnover reduced by 1.5 % (seasonally adjusted data). Turnover on domestic market fell by 1.1 % and on non-domestic market by 1.7 % (of which by 2.3 % in euro area and by 1.2 % in non-euro area).

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