Industrial production output in Latvia fell by 0.3% in June

Data compiled by the Central Statistical Bureau (CSB) on August 3 show that, compared to June 2019, in June 2020, industrial production output dropped by 0.3 % (according to calendar adjusted data at constant prices). 

Production output in manufacturing reduced by 2.3 %, but in mining and quarrying it increased by 9.3 % and in electricity and gas supply – by 8.3 %.

Significant production output decline, compared to the corresponding month of the previous year, was still registered in repair and installation of machinery and equipment (of 34.9 %), manufacture of motor vehicles, trailers and semi-trailers (20.7 %), manufacture of wearing apparel (19.4 %) and manufacture of textiles (16.4 %).

Production output also decreased in two out of the three sectors having the largest share in industrial production: manufacture of wood and of products of wood and manufacture of fabricated metal products, except machinery and equipment (of 1.9 % and 8.9 %, respectively). Manufacture of food products remained at the level of the previous year.

Even though in June, manufacturing still was negatively affected by COVID-19 crisis, compared to the previous months, this impact has decreased. Production output increased in almost one third of manufacturing sectors, of which the most significant upturn was registered in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of other transport vehicles equipment and manufacture of computer, electronic and optical products. 

Compared to May 2020, in June 2020, industrial production output rose by 7.5 % (according to seasonal adjusted data at constant prices). It was affected by the output increase in manufacturing (4.5 %), mining and quarrying (3.1 %), as well as electricity and gas supply (24.3 %).

Compared to June 2019, in June 2020, manufacturing turnover, according to calendar adjusted data at current prices, reduced by 0.1 %, turnover in the domestic market fell by 3.7 %, but export turnover – increased by 2 % (of which by 1.4 % in euro area and by 2.6 % in non-euro area).

Compared to May 2020, in June 2020 manufacturing turnover, according to seasonally adjusted data, rose by 6.6 %, turnover in the domestic market increased by 2.6 % and export turnover – by 8.8 % (of which by 5.3 % in euro area and by 11.6 % in non-euro area).

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production output and turnover indices, of which by sectors, is available in the CSB database Industry.

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Economy
Economy