Latvia Industry May 2018


Latvia: Industrial production falls to an over three-year low in May

July 4, 2018

Industrial production declined 1.1% in May from the same month last year, falling to an over-three year low. The print was in contrast to the 0.9% rise recorded in April. Meanwhile, annual average growth in industrial production dropped to 5.9% in May from 6.9% in April.

May’s deterioration came on the back of the sharpest contraction in electricity and gas supply in over three years, marking the third consecutive fall. Meanwhile, mining and quarrying output rebounded in May following the sharpest contraction in five years in April, and growth in the manufacturing sector accelerated.

In seasonally-adjusted terms, industrial production dropped 0.2% month-on-month in May, swinging from April’s revised 0.1% rise (previously reported: +0.2% month-on-month).

Latvia Industrial Production Forecast

Analysts surveyed by FocusEconomics expect industrial production to expand 5.0% in 2018, which is down 0.2 percentage points from last month’s projection. For 2019, the panel expects growth in industrial output of 4.1%.

Author:, Economist

Sample Report

Looking for forecasts related to Industry in Latvia? Download a sample report now.


Latvia Industry Chart

Latvia Industry May 2018 0

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

Latvia Economic News

  • Latvia: Industrial production contracts in January

    March 5, 2019

    According to Latvia’s Central Statistical Bureau, industrial output fell 1.8% in working day-adjusted year-on-year terms in January, compared to a strong 4.5% expansion in December.

    Read more

  • Latvia:

    March 1, 2019

    According to comprehensive national accounts data released by the Statistical Institute on 1 March, economic growth reached 5.1% on an annual basis in the final quarter of 2018 (previously reported: +5.0% year-on-year), accelerating from the third quarter’s revised 4.5% expansion (previously reported: +4.8% yoy).

    Read more

  • Latvia: Inflation increases in January

    February 20, 2019

    Consumer prices rose 0.5% from the previous month in January, following December’s 0.4% dip.

    Read more

  • Latvia: Industrial production rebounds in December

    February 4, 2019

    According to Latvia’s Central Statistical Bureau, industrial output jumped 4.5% in working day-adjusted year-on-year terms in December, compared to a 0.6% contraction in November.

    Read more

  • Latvia: Growth picks up in the fourth quarter

    January 30, 2019

    According to a flash estimate released by the Statistical Institute on 30 January, the economy expanded 5.0% in year-on-year terms in the fourth quarter of 2018, up slightly from the third quarter’s sturdy 4.8% increase.

    Read more

More news

Search form