Industry in Latvia

Latvia Industry | Economic News & Forecasts

Latvia - Industry

Industrial output growth hits six-month high in June

Industrial production rose 4.4% in annual working-day adjusted terms in June, up from a 1.7% year-on-year increase in May. June’s acceleration, which marked the strongest output growth since December 2018, was entirely driven by a surge in electricity and gas supply.

Meanwhile, manufacturing production growth decelerated notably from the previous month in June, largely due to tumbling manufacture of chemicals and chemical products, and machinery and equipment. This, coupled with a sharper contraction in the mining and quarrying industry, weighed on overall output growth in June.

Lastly, annual average industrial production growth edged up to1.1% in June, from 0.7% in May. Furthermore, in seasonally-adjusted terms, industrial production rose 1.6% in June, accelerating from the previous month’s 2.1% increase.

FocusEconomics panelists expect industrial production to expand 1.8% in 2019, unchanged from last month’s projection, and 3.1% in 2020.

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 Rate1.110.65 %Jul 31
Stock Market1,0390.17 %Jul 31

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