Latest reading: Industrial production increased 0.2% in annual terms in August, following a 2.6% rise in the prior month. Relative...
Industrial Production in Latvia
The Latvian economy recorded an average industrial production growth rate of 1.6% in the decade to 2024. In 2024, industrial production growth was -2.2%. For more industry information, visit our dedicated page.
Latvia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Latvia from 2025 to 2023.
Source: Macrobond.
Latvia Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -1.7 | 6.4 | 0.8 | -4.8 | -2.0 |
Industrial production loses momentum in August
Latest reading: Industrial production was up 2.5% in annual terms in August, following a 9.8% rise in the prior month. Relative to the previous month's data, readings in August softened for manufacturing (+4.1% in annual terms vs +10.6% in July), mining and quarrying (-23.9% vs -18.4% in July) and electricity and gas supply (+0.5% vs +12.5% in July). On a seasonally adjusted month-on-month basis, industrial production declined 2.3% in August, following 1.5% growth in the prior month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian industry projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Latvian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Latvian industry projections.
Want to get access to the full dataset of Latvian industry forecasts? Send an email to info@focus-economics.com.
Latest Global Industrial production News
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Qatar: Industrial production decelerates in August -
Taiwan: Industrial production accelerates in September Latest reading: Industrial production increased 15.5% on a year-on-year basis in September, following a 13.7% rise in the previous month.... -
Lithuania: Industrial production rebounds in September Latest reading: Industrial production rose 0.4% in annual terms in September, following a 2.0% fall in the prior month. Relative... -
Russia: Industrial production growth decelerates in September Latest reading: Industrial production was up 0.3% in annual terms in September, following a 0.5% increase in the prior month.... -
Poland: Industrial production gains steam in September Latest reading: Industrial production was up 7.4% in annual terms in September, following a 0.7% increase in the prior month.... -
Kazakhstan: Industrial production slows in September Latest reading: Industrial production rose 5.2% in annual terms in September, following a 12.8% rise in the prior month and... -
Belarus: Industrial production contracts again in September Latest reading: Industrial production fell 0.8% on a year-on-year basis in September, stable from the prior month’s reading. Relative to...