Industry in Latvia

Latvia Industry | Economic News & Forecasts

Latvia - Industry

Industrial output falls at sharpest rate since May 2020 in September

Industrial output dropped 3.7% in year-on-year terms in September, which followed August's 1.0% decrease. The outturn marked the worst reading in over two years. The figure came on the back of a decline in electricity and gas supply output. Meanwhile, manufacturing production improved.

On a seasonally adjusted monthly basis, industrial output fell 0.9% in September (August: +0.3% mom). Meanwhile, annual average industrial production growth fell to 4.3% in September (August: +4.8%), which marked an over one-year low.

FocusEconomics panelists expect industrial production to rise 1.5% in 2023, which is down 0.9 percentage points from last month’s projection, and 3.1% in 2024.

Latvia - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)3.6  5.4  8.3  1.5  1.0  

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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

Value Change Date
Bond Yield0.550.0 %Jun 30
Exchange Rate1.120.65 %Dec 31

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