November's industrial output shows slight annual rise in Latvia

Data published January 3 by the Central Statistical Bureau of Latvia (CSB) show that in November 2022, compared to November 2021, industrial production output grew by 4.5 % (according to calendar-adjusted data at constant prices).

Output upturn was recorded in manufacturing (of 5.3 %) as well as electricity and gas supply (6.1 %) while downturn in mining and quarrying (18.1 %).

Compared to the corresponding month of the previous year notable industrial production output increase was observed in the repair and installation of machinery and equipment (of 47.1 %), manufacture of other transport equipment as well as the manufacture of basic pharmaceutical products and pharmaceutical preparations. A rise was also registered in the manufacture of beverages (18.8 %), manufacture of computer, electronic and optical products (16.4 %), the manufacture of electrical equipment (14.7 %), and the manufacture of wearing apparel (14.3 %).

Industrial production output drop, in turn, was recorded in printing and reproduction of recorded media (of 22.1 %), manufacture of rubber and plastic products (14 %), manufacture of furniture (12.8 %), and manufacture of chemicals and chemical products (12.4 %). Output reduction was registered in all three manufacturing sectors having the largest share in manufacturing: manufacture of fabricated metal products, except machinery and equipment (of 13.3 %), manufacture of food products (4.2 %), and manufacture of wood and of products of wood and cork, except furniture (0.6 %).

Over the eleven months of 2022, compared to the corresponding period of 2021, industrial production output grew by 1.4 % (according to calendar adjusted data at constant prices). Output in manufacturing went up by 3.2 %, in mining and quarrying by 0.4 %, while in electricity and gas supply there was a drop of 12.4 %.

Compared to October 2022, in November 2022 industrial production output rose by 3.5 % (according to seasonally adjusted data at constant prices), of which in manufacturing by 2.6 %, in electricity and gas supply by 19.9 %, whereas in mining and quarrying there was a decline of 18.2 %.

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