Industry in Latvia

Latvia Industry | Economic News & Forecasts

Latvia - Industry

Industrial production contracts again in September

Industrial production output dropped 2.8% in year-on-year, calendar-day adjusted terms in September, slightly softer than August’s 2.9% fall.

September’s result was mainly driven by a milder decline in manufacturing production and a considerable pickup in mining and quarrying output. The electricity and gas sector, on the other hand, contracted at a sharper pace than in August.

On a monthly and seasonally-adjusted basis, industrial output rose 0.5% in September, rebounding from August’s 0.5% dip. Meanwhile, the trend deteriorated, with the annual average variation of industrial production coming in at minus 2.3% in September, below August's minus 1.5%.

FocusEconomics panelists expect industrial production to increase 4.1% in 2021, which is unchanged from last month’s forecast. In 2022, industrial output is seen expanding 3.1%.

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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