Latvia's industrial output up on year

Data published February 3 by the Central Statistical Bureau (CSB) show that in 2021, compared to 2020, industrial production output according to calendar adjusted data at constant prices rose by 6.5%.

It was affected by the output increase in manufacturing - by 7.3%, mining and quarrying - by 4.7 %, and in electricity and gas supply - 2.9 %.

Of the 22 manufacturing industries, 17 demonstrated output growth in 2021, including the two out of the three sectors having the largest share in manufacturing: manufacture of wood and of products of wood and cork and manufacture of fabricated metal products, except machinery and equipment (an increase of 3.7 % and 10 % respectively).  Increase in output, compared to the previous year, was affected by the output increase in the manufacture of motor vehicles, trailers, and semi-trailers by 34.5 %, manufacture of chemicals and chemical products by 24.9 %, manufacture of furniture by 24.3 %, and manufacture of machinery and equipment n.e.c by 23.2 %.

In turn, a decrease in output was recorded in the second-largest sector by share - manufacture of food products by 0.6 %, repair, and installation of machinery and equipment by 8.6 %, manufacture of other transport equipment and manufacture of basic metals.

In December 2021, compared to November, industrial production output according to seasonally adjusted data at constant prices increased by 3.8 %, including in manufacturing - by 2.1 % and in electricity and gas supply - by 28.7 %, while in mining and quarrying and output it decreased by 7.3 %.

In 2021, compared to 2020, manufacturing turnover according to calendar adjusted data at current prices increased by 21 %. It was affected by an increase by 15.9 % in the domestic market and by 23.5 % in exports (including 16.3 % in the euro area and 29.5 % outside the euro area).

In December 2021, compared to December 2020, the turnover of manufacturing increased by 18.9 % according to calendar adjusted data. It was affected by an increase of 13.3 % in the domestic market and by 21.9 % in exports (including 29.3 % in the euro area and 16.4 % outside the euro area).

In December 2021, compared to November, the turnover of manufacturing increased by 1.7 % according to seasonally adjusted data. The turnover in exports increased by 2.7 % (of which in the euro area - by 7.5 %, but outside the euro area - a decrease of 1.2 %), while the turnover in the domestic market decreased by 0.7 %.

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