Latvia's Industrial production rose 8.5% in 2017

Data released by the Central Statistical Bureau (CSB) February 5 show that, compared to 2016, in 2017 industrial production output increased by 8.5 % (according to calendar adjusted data at constant prices).

Compared to December 2016, in December 2017 industrial production output grew by 5.5 % (according to calendar adjusted data at constant prices). A production output rise was recorded in manufacturing (of 7.7 %), mining and quarrying (14.4 %), while drop was observed in electricity and gas supply (of 1.5 %).

Compared to December 2016, significant output increases were observed in medium-high technologies manufacturing sectors: manufacture of machinery and equipment (of 41.4 %), manufacture of motor vehicles, trailers and semi-trailers (38.9 %), manufacture of chemicals and chemical products (30.2 %), and manufacture of electrical equipment (8.9 %).

Notable rises were also observed in manufacture of non-metallic mineral products (of 21.8 %), manufacture of fabricated metal products, except machinery and equipment (12.9 %), and manufacture of food products (3.2 %).

Output reduction, in turn, was registered in the sector having the largest share in the industrial production – manufacture of wood and of products of wood and cork, except furniture (of 3.2 %), as well as manufacture of computer, electronic and optical products (7.6 %) and manufacture of basic pharmaceutical products and pharmaceutical preparations.

Compared to November 2017, in December 2017 industrial production output, according to seasonally adjusted data at constant prices, went up by 1.3 %.

Compared to 2016, in 2017 manufacturing turnover increased by 9.2 % (according to calendar adjusted data at current prices). The rise was due to the turnover upturn of 7.2 % on the domestic market and of 11.3 % in export (of which by 17 % in euro area and 7 % in non-euro area).

Compared to December 2016, in December 2017 manufacturing turnover grew by 10.1 %.

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