Latvia's industrial production grew 3.7% on year in August

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Data compiled by the Central Statistical Bureau (CSB) and published October 4 show that, compared to August 2020, in August 2021 industrial production output according to calendar adjusted data at constant prices increased by 3.7 %.

The figure was influenced by an increase in production in manufacturing - by 7.9 % and in mining and quarrying - by 13.7 %, whereas in electricity and gas supply there was a decrease by 31.3 % (the volume of electricity produced in combined heat and power (CHP) plants and gas supply to consumers decreased).

Compared to the corresponding month of the previous year, a significant increase in manufacturing production output was in high and medium high technology sectors: manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of motor vehicles, trailers and semi-trailers - by 42.7 % and in manufacture of chemicals and chemical products - by 40.4 %.

Output also increased in the manufacture of wearing apparel - by 25.9 %, in the manufacture of furniture - by 25.8 % and in three of the largest manufacturing industries: in the manufacture of wood and of products of wood and cork - by 6.7 %, in the manufacture of food products - by 1.3 % and in manufacture of fabricated metal products, except machinery and equipment - by 3.9 %.

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In turn, the production volume decreased in the manufacture of paper and paper products - by 16.9 % and in the repair and installation of machinery and equipment - by 7.3 %.

In August 2021, compared to July 2021, industrial production output according to seasonally adjusted data at constant prices decreased by 2 %. The decline in production was in electricity and gas supply – by 32.9 % and in mining and quarrying - by 2.3 %, but increase was registered in manufacturing - by 0.6 %.

Compared to August 2020, in August 2021 manufacturing turnover, according to calendar adjusted data at current prices, increased by an impressive 27 %. Turnover increased by 21.7 % in the domestic market and by 29.9 % in exports (including 15.7 % in the euro area and by 41.7 % in non-euro area).

In August 2021, compared to July 2021, manufacturing turnover, according to seasonally adjusted data, decreased by 0.2 %. 

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