Industry in Latvia

Latvia Industry | Economic News & Forecasts

Latvia - Industry

Industrial production gains momentum in March

Industrial production rose 4.7% in year-on-year, calendar-adjusted terms in March, firmly above the 2.7% increase logged in February.

March’s higher reading was driven by faster output growth in the manufacturing sector, as well as activity in the mining and quarrying sector rebounding solidly. Meanwhile, energy supply production rose at a slower pace in March, moderating growth somewhat.

On a monthly and seasonally-adjusted basis, industrial output increased 0.5% in March, easing from February’s 1.1% increase. Lastly, the trend improved slightly, with the annual average variation of industrial production coming in at minus 0.3% in March, up from February’s minus 1.0%.

FocusEconomics panelists expect industrial production to increase 3.2% in 2021, which is down 0.3 percentage points from last month’s forecast. In 2022, industrial output is seen expanding 3.3%.

Latvia - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)3.6  5.4  8.3  1.5  1.0  

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Latvia Industry Chart


Latvia Industry
Note: Annual variation of industrial output in %.
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.

Latvia Facts

Value Change Date
Bond Yield0.550.0 %Jun 30
Exchange Rate1.120.65 %Dec 31

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