Encouragement in Latvia's July manufacturing figures

New data released September 3 by the Central Statistical Bureau (CSB) show that, compared to July 2019, in July 2020, manufacturing production output rose by 1.8 % (according to calendar adjusted data at constant prices) despite the coronavirus crisis. 

Production output increases were also registered in mining and quarrying (of 11.5 %), but in electricity and gas supply there was a drop (14.1 %). Total industrial production output increased by 0.1 %.

Compared to the corresponding month of the previous year, production output rise was in the sector having the largest share in industrial production – manufacture of wood, and of products of wood and cork (of 12.5 %).

In July production output continued to increase in manufacture of chemicals and chemical products – by 13.7 %, and manufacture of computer, electronic and optical products. As the negative impact of COVID-19 reduced, production output growth was registered in manufacture of machinery and equipment (of 11.9 %), manufacture of furniture (10.5 %) and manufacture of wearing apparel (9.1 %).

However, production output falls remained in repair and installation of machinery and equipment (of 26.5 %) and manufacture of motor vehicles, trailers and semi-trailers (manufacture of motor vehicle parts and accessories, which includes various components of motor vehicles) (16.8 %).

Production output also declined in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of metal products and two out of the three sectors having the largest share in industrial production: manufacture of food products and manufacture of fabricated metal products, except machinery and equipment (of 0.2 % and 15.5 %, respectively).

Month-on-month the figures were even mre encouraging. Compared to June 2020, in July 2020, manufacturing production output rose by 4.1 % (according to seasonal adjusted data at constant prices).

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