Manufacturing output down 1.4% in October in Latvia

Data published December 5 by the Central Statistical Bureau of Latvia (CSB) show that, compared to October 2021, in October 2022 manufacturing output dropped by 1.4 % (according to calendar-adjusted data at constant prices).

Output downturn (of 18 %) was also registered in electricity and gas supply (production of electricity in hydro power plants and combined heat and power plants, as well as gas distribution to consumers, decreased) while upturn (of 2.7 %) in mining and quarrying. Total industrial production output fell by 2.7 %.

Compared to the corresponding month of the previous year, industrial production output decline was registered in manufacture of textiles (of 30.7 %), manufacture of rubber and plastic products (10 %) as well as printing and reproduction of recorded media (9.3 %). Output dropped in all three sectors having the largest share in manufacturing – manufacture of fabricated metal products, except machinery and equipment (by 9.8 %), manufacture of wood and of products of wood and cork, except furniture (2.6 %), and manufacture of food products (2.2 %).

Output rise, in turn, was recorded in manufacture of computer, electronic and optical products (of 24.6 %), manufacture of wearing apparel (16.3 %), manufacture of electrical equipment (15.1 %), and manufacture of beverages (of 12.4 %).

Over the ten months of this year, compared to the corresponding period of 2021, manufacturing output increased by 3 % (according to calendar adjusted data at constant prices). Output in mining and quarrying went up by 2.2 %, whereas in electricity and gas supply there was a drop of 14.3 %. Total industrial production output rose by 1 %.

In October 2022, compared to September 2022, manufacturing output rose by 0.1 % (according to seasonally adjusted data at constant prices). Output upturn was recorded in electricity and gas supply (of 5.3 %), while in mining and quarrying there was a drop of 2.4 %. Total industrial production output remained at the level recorded in previous month.

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Compared to October 2021, in October 2022 manufacturing turnover increased by 14.7 % (according to calendar-adjusted data at current prices). Turnover on the domestic market went up by 24.7 % and in export by 10.1 % (of which by 21 % in euro area and by 1.9 % in non-euro area).

Compared to September 2022, in October 2022 manufacturing turnover rose by 0.4 % (according to seasonally adjusted data). Turnover on the domestic market went up by 0.6 % and in export by 0.3 %, of which by 0.2 % in euro area and by 0.3 % in non-euro area).

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