Industrial production up on year in January

Industrial production in Latvia grew by nearly 5% in January according to official data released Monday.

Compared to January 2015, in January 2016 the volume of industrial production increased by 4.6 % (according to calendar adjusted data at constant prices) the Central Statistics Bureau (CSB) said in a data release. 

"The rise was due to the growth in electricity and gas supply of 31.8%. Industrial production in mining and quarrying went up by 2.7%, while in manufacturing there was a drop of 2.9%," said the CSB.

A rise in industrial production was recorded in manufacture of wood and of products of wood - a particularly important sector for Latvia which relies heavily on its forests - manufacture of furniture, manufacture of paper and paper products, and manufacture of chemicals and chemical products.

Compared to December 2015, in January 2016 the volume of industrial production (according to seasonally adjusted data at constant prices) fell by 0.3 %.

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Economy
Economy