Industry in Latvia
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 |
Latvia Industry Chart
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.
Latvia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.55 | 0.0 % | Jun 30 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Latvia: Contraction in GDP softens again in Q1
May 31, 2021
The economy shrank 1.3% year-on-year in the first quarter of 2021, according to detailed national accounts data released on 31 May.
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Latvia: Inflation hits 25-month high in April
May 10, 2021
Consumer prices rose 0.91% over the previous month in April, quickening from March’s 0.73% increase and marking the fastest rise in over two years.
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Latvia: Industrial production gains momentum in March
May 5, 2021
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.
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Latvia: GDP drops at a quicker pace in Q1
April 29, 2021
GDP fell 2.2% on an annual basis in the first quarter of 2021, according to a preliminary release.
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Latvia: Inflation returns in March after seven months of falling prices
April 9, 2021
Consumer prices rose 0.73% over the previous month in March, quickening from February’s 0.46% increase.
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