Latvia Industry November 2016


Latvia: Industrial production gains speed again November

January 3, 2017

Industrial production in Latvia surged 11.0% year-on-year in November, accelerating from an already solid expansion in October when output increased 6.7%. The acceleration reflected a broad-based improvement. Manufacturing output grew faster in November and electricity generation increased at a double-digit pace. Meanwhile, mining maintained a healthy growth rate in November.

A month-on-month comparison confirms the improvement suggested by the annual data. Industrial production increased a seasonally-adjusted 2.9% in November, which came in above the 2.6% rise in October.

Due to the strong annual reading, the overall trend in industrial production continues to point to an acceleration. Annual average growth in industrial output rose from 3.6% in October to 4.1% in November.

Industrial production is expected to continue expanding this year, although at a more moderate pace. Analysts surveyed by FocusEconomics expect industrial production to expand 3.6% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects growth in industrial output to remain at 3.6%.

Author:, Senior Economist

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Latvia Industry Chart

Latvia Industry November 2016

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

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