Industrial production boosted in November

November saw a steep rise in Latvia's industrial production according to figures released January 3.

Compared to November 2015, in November 2016 industrial production output increased by 11 %, according to calendar adjusted data at constant prices.

A production output rise in manufacturing accounted for 9.1 %, in mining and quarrying for 9.8 % and in electricity and gas supply for 18.6 %.

The data were compiled by the Central Statistical Bureau (CSB).

Compared to November of the year before, in November 2016 production increase was influenced by a notable rise in most manufacturing sectors, including manufacturing of high- and medium-high-tech industries, such as manufacture of motor vehicles, trailers and semi-trailers (+46.6 %), manufacture of electrical equipment (+31.3 %), manufacture of computer, electronic and optical products (+14.6 %), manufacture of machinery and equipment  (+12.2 %), as well as manufacture of basic pharmaceutical products and pharmaceutical preparations.

Rise in the demand for products in export markets, especially in the non-euro area, was one of the main factors contributing to the production output increase, the CSB said.

Compared to October, in November industrial production output went up by 2.8 %, according to seasonally adjusted data at constant prices.

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Economy
Economy