Latvia Industry April 2022

Latvia

Latvia: Industrial output growth ebbs in April

June 3, 2022

Industrial output expanded 3.7% in year-on-year terms in April, which followed March's 6.3% increase. Looking at the details of the release, manufacturing production grew at a slower rate in April, while mining and quarrying output swung to contraction.

On a monthly basis, factory output declined 0.1% in seasonally-adjusted terms in April, which was significantly below March’s 3.5% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 5.3%, down from March's 6.7% reading.

FocusEconomics panelists expect industrial production to rise 2.2% in 2022, which is down 0.1 percentage points from last month’s projection, and 2.7% in 2023.


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Latvia Industry April 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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