Latvia Industry December 2017


Latvia: Growth in industrial production gains strength in December

February 7, 2018

Industrial production expanded 5.5% in December compared to the same month last year, above November’s weaker 3.7% year-on-year increase (previously reported: +3.6% yoy). Meanwhile, annual average growth in industrial production came in at 8.5% in December, down from the 9.0% expansion recorded in November.

Growth in industrial production was fueled by robust expansions in the manufacturing, and mining and quarrying sub-sectors, while the electricity and gas supply sub-sector continued to contract. Particularly notable increases were registered in the manufacturing of motor vehicles, trailers and semi-trailers, chemicals and chemical products, and machinery and equipment.

In seasonally-adjusted terms, industrial production increased 1.3% month-on-month in December, above November’s 0.6% expansion.

Latvia Industrial Production Forecast

Analysts surveyed by FocusEconomics expect industrial production to expand 4.3% in 2018, which is unchanged from last month’s projection. For 2019, the panel expects growth in industrial output to expand 4.1%.

Author: Massimo Bassetti, Economist

Sample Report

Looking for forecasts related to Industry in Latvia? Download a sample report now.


Latvia Industry Chart

Latvia Industry December 2017

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.

Latvia Economic News

  • Latvia: Inflation ticks down in February

    March 15, 2019

    Consumer prices rose 0.1% from the previous month in February, moderating from January’s 0.5% increase.

    Read more

  • Latvia: Industrial production contracts in January

    March 5, 2019

    According to Latvia’s Central Statistical Bureau, industrial output fell 1.8% in working day-adjusted year-on-year terms in January, compared to a strong 4.5% expansion in December.

    Read more

  • Latvia:

    March 1, 2019

    According to comprehensive national accounts data released by the Statistical Institute on 1 March, economic growth reached 5.1% on an annual basis in the final quarter of 2018 (previously reported: +5.0% year-on-year), accelerating from the third quarter’s revised 4.5% expansion (previously reported: +4.8% yoy).

    Read more

  • Latvia: Inflation increases in January

    February 20, 2019

    Consumer prices rose 0.5% from the previous month in January, following December’s 0.4% dip.

    Read more

  • Latvia: Industrial production rebounds in December

    February 4, 2019

    According to Latvia’s Central Statistical Bureau, industrial output jumped 4.5% in working day-adjusted year-on-year terms in December, compared to a 0.6% contraction in November.

    Read more

More news

Search form