Latvia Industry February 2018


Latvia: Growth in industrial production jumps in February

April 23, 2018

Industrial production soared 8.7% in February compared to the same month last year, more than doubling January’s 4.2% year-on-year increase. Meanwhile, annual average growth in industrial production came in at 8.3% in February, slightly down from January’s 8.5%.

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

In seasonally-adjusted terms, industrial production jumped 3.9% month-on-month in February, contrasting February’s 1.4% contraction.

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 February 2018

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

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