Industrial production down 7% in Latvia

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Data published on June 5 by the Central Statistical Bureau of Latvia show that, compared to April 2022, in April 2023 industrial production output reduced by 7.0 % (according to calendar adjusted data at constant prices). 

Output downturn was recorded in manufacturing as well as mining and quarrying – of 8.8 % and 16.3 %, respectively, while in electricity and gas supply an upturn of 3.8 % was observed.

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 16.1 % and 11.2 %, respectively).  Output reduction was also recorded in printing and reproduction of recorded media (30.3 %), manufacture of other non-metallic mineral products (26.0 %), and manufacture of motor vehicles, trailers and semi-trailers (parts and accessories for motor vehicles) (13.8 %). 

The output reduction registered in April was mainly caused by a smaller number of orders placed. 

Compared to March 2023, in April 2023 industrial production output reduced by 0.6 % (according to seasonally adjusted data at constant prices). Decline was registered in manufacturing as well as mining and quarrying – of 1.9 % and 0.3 %, respectively, while in electricity and gas supply there was a rise of 9.6 %.

<iframe src="https://stat.gov.lv/en/chart/pr2023rupnieciba06en" width="640" height="280"></iframe>

Compared to April 2022, in April 2023 manufacturing turnover reduced by 5.6 % (according to calendar adjusted data at current prices). Turnover on the domestic market fell by 1.3 % and in export by 7.6 % (of which by 7.6 % in both euro and non-euro area).

Compared to March 2023, in April 2023 manufacturing turnover dropped by 5.2 % (according to seasonally adjusted data). Turnover on the domestic market reduced by 1.8 % and in export by 6.9% (of which by 4.0 % in euro area and by 9.3 % in non-euro area).

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