Latvia's industrial production up 5.9% on year

Data published March 7 by the Central Statistical Bureau (CSB) show that in January 2022, compared to January 2021, industrial production output according to calendar adjusted data at constant prices increased by 5.9%.

 Production output increase was registered in manufacturing - by 9.3 %, and in mining and quarrying - by 9.4 %. In turn, electricity and gas supply fell by 10.8 %, with a drop in electricity produced by CHP plants and in gas supplied to consumers.

In turn, output decreased by 28.7 % in the manufacture of computers, electronic and optical equipment and by 4.3 % in the manufacture of paper and paper products. Output also decreased in the two largest sectors by share: manufacture of wood and wood products and manufacture of food products (by 1.4 % and 0.4 % respectively).

In January 2022, compared to December 2021, industrial production output according to seasonally adjusted data at constant prices decreased by 0.7 %. Output fell by 24.3 % in electricity and gas supply – but increased by 1.6 % in manufacturing and by 11.1 % in mining and quarrying.

In January 2022, compared to January 2021, manufacturing turnover according to calendar adjusted data at current prices increased by 28.7 %. Domestic market turnover grew by 22.2 % and exports by 31.6 % (including 37.8 % in the euro area and 26.8 % outside the euro area).

In January 2022, compared to December 2021, manufacturing turnover according to seasonally adjusted data at current prices increased by 3.5 %. Domestic market turnover grew by 6.6 % and exports by 2.1% (including 6.3 % outside the euro area, while turnover in the euro area declined by 2.6 %).    

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