Latvia Industry December 2016


Latvia: Industrial output grows at a double-digit pace again in December

February 3, 2017

Industrial production was 11.5% higher in December than in December 2015 and followed an equally rock-solid 11.2% expansion in November. December’s expansion, the fastest in five and a half years and the second strongest in the EU after Croatia, was the result of strong gains in manufacturing output and mining activity. Meanwhile, growth in electricity generation slowed compared to November, but still managed to increase at a double-digit pace.

In seasonally-adjusted terms, industrial production increased 0.2% from the previous month in December. This was slower than the notable 2.8% expansion in November.

Latvia’s industrial production increased 4.9% in 2016 as a whole, picking up speed from the 3.5% expansion in 2015.

Industrial production is expected to continue expanding this year, although at a more moderate pace. Analysts surveyed by FocusEconomics expect industrial production to expand 3.6% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects growth in industrial output to remain at 3.6%.

Author:, Senior Economist

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Latvia Industry Chart

Latvia Industry December 2016

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

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