Industrial production declined nearly 10% in January

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Data published March 6 by the Central Statistical Bureau of Latvia (CSB) show that in January 2023, compared to January 2022, industrial production output decreased by 9.8 % (according to calendar adjusted data at constant prices). Output downturns were recorded in manufacturing (6.1 %) as well as mining and quarrying (20.8 %).

A decline (of 20.8 %) was also registered in electricity and gas supply, as production of electricity in combined heat and power plants as well as gas distribution to consumers decreased.

Compared to December 2022, in January 2023 industrial production output dropped by 3.3 % (according to seasonally adjusted data at constant prices). Output in electricity and gas supply fell by 32.7 % and in manufacturing by 1.0 %, while in mining and quarrying there was a rise of 4.3 %.

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Compared to January 2022, in January 2023 manufacturing turnover increased by 8.8 % (according to calendar adjusted data at current prices). Turnover on the domestic market went up by 21.3 % and in export by 3.5 % (of which by 5.3 % in euro area and by 2.0 % in non-euro area).

Compared to December 2022, in January 2023 manufacturing turnover grew by 3.8 % (according to seasonally adjusted data). Turnover on the domestic market rose by 6.7 % and in export by 2.3 % (of which by 7.2 % in euro area, while in non-euro area there was a decline of 1.6 %).

The data may be revised during the upcoming months.

Change in industrial production output (per cent, at constant prices)

 

 

January 2023, compared to

December 2022 (seasonally adjusted)

January 2022

(calendar adjusted)

Total industrial production

-3.3

-9.8

Mining and quarrying

4.3

-20.8

Manufacturing

-1.0

-6.1

Manufacture of food products

1.6

0.0

Manufacture of beverages

-7.8

3.1

Manufacture of textiles

-4.1

-5.7

Manufacture of wearing apparel

4.7

-1.8

Manufacture of wood and of products of wood and cork, except furniture

-4.8

-4.7

Manufacture of paper and paper products

7.8

-18.2

Printing and reproduction of recorded media

-3.2

-34.6

Manufacture of chemicals and chemical products

12.6

-31.6

Manufacture of other non-metallic mineral products

6.6

-21.9

Manufacture of fabricated metal products, except machinery and equipment

1.5

-14.2

Manufacture of computer, electronic and optical products

-6.2

43.4

Manufacture of electrical equipment

-0.7

11.3

Manufacture of machinery and equipment

6.5

-27.8

Manufacture of motor vehicles, trailers and semi-trailers

-6.4

-9.1

Manufacture of furniture

-14.0

-22.4

Repair and installation of machinery and equipment*

15.3

48.9

Electricity and gas supply

-32.7

-20.8

 

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