Latvia's industrial output dipped in February

Data compiled by the Central Statistical Bureau of Latvia (CSB) show that, compared to February 2018, in February 2019 industrial production output decreased by 3.2 % (according to calendar adjusted data at constant prices). 

The drop resulted from the decline in electricity and gas supply (of 25.9 %; in production of electricity in hydro power plants and combined heat and power (CHP) plants, as well as gas distribution to consumers). An output rise was recorded in manufacturing (of 5.7 %) and mining and quarrying (12.4 %).

Compared to the corresponding month of the previous year, industrial production output increase was recorded in the sectors having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture (of 4.8 %), manufacture of food products (2.1 %), and manufacture of fabricated metal products, except machinery and equipment (20.4 %).

Output upturns were registered also in manufacture of computer, electronic and optical products (of 20.8 %), manufacture of electrical equipment as well as repair and installation of machinery and equipment (18 %), and manufacture of machinery and equipment (16.4 %).

Compared to January 2019, in February 2019 industrial production output grew by 0.9 % (according to seasonally adjusted data at constant prices), of which 1.9 % was in manufacturing, 1 % was in mining and quarrying, while in electricity and gas supply there was a drop of 2.8 %.

Compared to February 2018, in February 2019 manufacturing turnover increased by 11.7 % (according to calendar adjusted data at current prices). Turnover on the domestic market went up by 9.1 % and in export by 12.9 % (of which by 20.2 % in euro area and by 7.3 % in non-euro area).

Compared to January 2019, in February 2019 manufacturing turnover rose by 0.3 % (according to seasonally adjusted data). Turnover on the domestic market went down by 1.7 % while in export up by 1.3 % (of which by 2.6 % in euro area and by 0.2 % in non-euro area).

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