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, Senior Economist

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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.

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