Latvia Industry June 2021


Latvia: Industrial output growth slows in June

August 3, 2021

Industrial production rose 7.6% year-on-year in June, following May’s 10.6% result. The slowdown was partly due to a moderation in manufacturing production growth. In contrast, mining and quarrying output improved.

On a seasonally-adjusted monthly basis, factory output rebounded, rising 1.3% in June (May: -2.2% mom). Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 4.3%, up from May's 3.6%.

FocusEconomics panelists expect industrial production to increase 6.3% in 2021, which is up 1.1 percentage points from last month’s forecast. In 2022, industrial output is seen expanding 3.6%.


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Latvia Industry Chart

Latvia Industry June 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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