Industrial production slightly up in Latvia

Central Statistical Bureau calendar adjusted data at constant prices, published on May 7, show that, compared to March 2023, in March 2024 industrial production output rose by 0.7 %. 

Output in manufacturing reduced by 1.0 % while in electricity and gas supply rose by 3.2 % and in mining and quarrying by 25.8 %.

The most reduced industrial production output was registered in manufacture of furniture (23.3 %), manufacture of motor vehicles, trailers and semi-trailers (18.7 %), manufacture of computer, electronic and optical products (15.9 %), manufacture of wearing apparel (13.8 %), as well as printing and reproduction of recorded media (4.6 %). Lower output was also recorded in one of the manufacturing sectors having the largest share in manufacturing – manufacture of fabricated metal products, except machinery and equipment (12.4 %).

Increased output was registered in repair and installation of machinery and equipment (33.1 %), manufacture of chemicals and chemical products (13.3 %), manufacture of beverages (8.2 %), as well as manufacture of textiles (7.5 %). Rise was also recorded in two out of three sectors having the largest share in manufacturing: manufacture of food products as well as manufacture of wood and of products of wood and cork, except furniture (0.9 % and 1.7 %, respectively).

Compared to February 2024, in March 2024 industrial production output went down by 0.5 % (seasonally adjusted data at constant prices). In manufacturing it rose by 1.6 % while in electricity and gas supply reduced by 7.0 % and in mining and quarrying by 1.6 %.

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Compared to March 2023, in March 2024 manufacturing turnover reduced by 5.3 % (calendar adjusted data at current prices). Turnover on domestic market fell by 4.3 % and on non-domestic market by 5.7 % (of which by 3.7 % in euro area and by 7.3 % in non-euro area).

Compared to February 2024, in March 2024 manufacturing turnover fell by 0.1 % (seasonally adjusted data).  Turnover on domestic market went down by 2.0 % and on non-domestic market went up by 0.9 % (of which drop of 0.4 % in euro area and rise of 2.1 % in non-euro area).

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