Latvia Industry January 2022

Latvia

Latvia: Industrial output growth eases in January

March 7, 2022

Industrial output increased 5.9% year-on-year in January (December: +7.1% yoy). The figure was driven by a drop in electricity and gas supply output. However, manufacturing production gained steam.

On a seasonally-adjusted monthly basis, industrial production fell 0.7% in January (December: +3.3% mom). Meanwhile, annual average industrial production growth rose to 6.7% in January (December: +6.5%).

FocusEconomics panelists expect industrial production to rise 3.9% in 2022, which is up 0.2 percentage points from last month’s projection, and 3.4% in 2023.


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Latvia Industry January 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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