Latvia Industry June 2018


Latvia: Industrial rebounds modestly in June

August 3, 2018

Industrial production rose 0.4% in June from the same month last year, following the weakest performance in three years in May, when output contracted a revised 0.9% (previously reported: -1.1% year-on-year). Meanwhile, annual average industrial production growth dropped to 5.3% in June from 5.9% in May, marking the lowest reading since January 2017.

Industrial output growth in June was driven by a double-digit increase in manufacturing and quarrying, while manufacturing output also expanded year-on-year, albeit at a much slower pace. Meanwhile, electricity and gas supply contracted sharply once again in June.

In seasonally-adjusted terms, industrial production rose 0.6% month-on-month in June, swinging from May’s revised 0.1% contraction (previously reported: -0.2% month-on-month).

Analysts surveyed by FocusEconomics expect industrial production to expand 4.1% in 2018, which is down 0.9 percentage points from last month’s projection. For 2019, the panel sees industrial output growing 3.8%.

Author:, Research Team Manager

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Latvia Industry Chart

Latvia Industry June 2018

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

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