Latvia Industry September 2021

Latvia

Latvia: Industrial output growth improves in September

November 3, 2021

Industrial output expanded 5.8% year-on-year in September (August: +4.3% yoy). The figure was driven by growing electricity and gas supply production. In contrast, manufacturing production weakened.

On a monthly basis, industrial production grew 1.5% in seasonally-adjusted terms in September, rebounding from August’s 2.0% fall and marked the best result since April. Meanwhile, annual average industrial production growth rose to 6.3% in September (August: +5.6%), signaling an improving trend in the industrial sector.

FocusEconomics panelists expect industrial production to increase 4.1% in 2022, which is up 0.1 percentage points from last month’s forecast. In 2023, industrial output is seen expanding 3.3%.


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Latvia Industry September 2021

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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