Latvia Industry September 2022


Latvia: Industrial output falls at sharpest rate since May 2020 in September

November 4, 2022

Industrial output dropped 3.7% in year-on-year terms in September, which followed August's 1.0% decrease. The outturn marked the worst reading in over two years. The figure came on the back of a decline in electricity and gas supply output. Meanwhile, manufacturing production improved.

On a seasonally adjusted monthly basis, industrial output fell 0.9% in September (August: +0.3% mom). Meanwhile, annual average industrial production growth fell to 4.3% in September (August: +4.8%), which marked an over one-year low.

FocusEconomics panelists expect industrial production to rise 1.5% in 2023, which is down 0.9 percentage points from last month’s projection, and 3.1% in 2024.


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Latvia Industry Chart

Latvia Industry September 2022

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.

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