Industry in Latvia

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Latvia - Industry

Industrial rebounds modestly in June

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%.

Latvia - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-0.9  -1.1  3.6  5.4  8.5  

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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 Rate1.130.65 %Aug 15
Stock Market9960.17 %Aug 15

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