Industrial production down 2.9% in July

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Data published by the Central Statistical Bureau of Latvia (CSB) September 5 show that, compared to July 2021, in July 2022 industrial production output fell by 2.9 % (according to calendar adjusted data at constant prices). 

An output decline (due to the reduction in the volume of electricity produced by combined heat and power plants and gas supply to consumers) was registered in electricity and gas supply (of 24.4 %) as well as mining and quarrying (3.1 %), while an output upturn was recorded in manufacturing (0.6 %).

Compared to June 2022, in July 2022 industrial production output fell by 1.2 % (according to seasonally adjusted data at constant prices), of which the output in manufacturing dropped by 0.7 %, in electricity and gas supply by 7.8 %, whereas in mining and quarrying there was a rise of 5.4 %.

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Meanwhile in terms of turnover, compared to July 2021, in July 2022 manufacturing turnover increased by 14.8 % (according to calendar adjusted data at current prices). Turnover on the domestic market went up by 14.1 % and in export by 15.2 % (of which by 19.5 % in euro area and by 11.9 % in non-euro area).

Compared to June 2022, in July 2022 manufacturing turnover grew by 3.8 % (according to seasonally adjusted data). Turnover in export increased by 6.2 % (of which by 0.8 % in euro area and by 10.8 % in non-euro area), whereas on the domestic market it dropped by 0.8 %.

The data published may be revised during upcoming months if additional information is received.

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