Industry in Latvia

Latvia Industry | Economic News & Forecasts

Latvia - Industry

Industrial output growth surges to 19-month high in September

Industrial production jumped 7.0% in annual working-day adjusted terms in September, accelerating from August’s 2.0% increase and marking the strongest expansion since February 2018.

September’s upturn was driven by marked increase in electricity and gas supply as well as stronger manufacturing sector activity. Manufacturing output growth accelerated against the backdrop of a considerable increase in repair and installation of machinery and equipment as well as soaring production of electrical equipment and of computer, electronic and optical products. On a less positive note, mining and quarrying output contracted again in the same month, weighing on the overall result.

In seasonally-adjusted terms, industrial production rose 1.2% in September, down from 3.1% in August. That said, annual average industrial production growth jumped to 1.0% from 0.3% in August.

FocusEconomics panelists see harmonized inflation averaging 2.4% in 2020, which is up 0.1 percentage points from the previous month’s forecast, and 2.3% in 2021.

Latvia - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-0.9  -1.1  3.6  5.4  8.3  

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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

Bond Yield0.550.0 %Jun 30
Exchange Rate1.100.65 %Sep 04
Stock Market1,0250.17 %Sep 04

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