Latest reading: Manufacturing output flatlined month on month in seasonally adjusted terms in June, which followed May’s 2.2% increase. Looking...
Industrial Production in Latvia
The Latvian economy recorded an average industrial production growth rate of 1.6% in the decade to 2024. In 2024, industrial production growth was -2.2%. For more industry information, visit our dedicated page.
Latvia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Latvia from 2014 to 2024.
Source: Macrobond.
Latvia Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -1.7 | 6.4 | 0.8 | -4.8 | -2.2 |
Industrial output growth reaches three-year high in May
Latest reading: Industrial output rose 4.0% in year-on-year terms in May, which was above April's 1.9% increase. The figure marked the best reading since May 2022 and was primarily driven by pickups in manufacturing plus electricity and gas production. On a seasonally adjusted monthly basis, factory output rose at a quicker rate of 1.4% in May (April: +0.8% mom s.a.). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 5.7% in May, up from April's minus 6.0% reading.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian industry projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Latvian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Latvian industry projections.
Want to get access to the full dataset of Latvian industry forecasts? Send an email to info@focus-economics.com.
Latest Global Industrial production News
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South Africa: Manufacturing production flatlines in June -
Sweden: Industrial output clocks quickest growth since August 2020 in June Latest reading: Industrial output—excluding energy—expanded 6.7% in seasonally and calendar-adjusted month on month terms in June, which contrasted May’s 1.3%... -
Argentina: Industrial output expands at fastest pace since May 2022 in June Latest reading: Industrial output rose 9.3% compared to the same month a year earlier in June, which followed May’s 6.0%... -
Norway: Decline in industrial activity softens in June Latest reading: Industrial production declined 0.1% month on month in seasonally adjusted terms in June (May: -0.5% mom s.a.). Looking... -
Vietnam: Industrial output decelerates in July Latest reading: Industrial output decelerated to 8.5% on an annual basis in July from June’s 10.8% increase, marking the worst... -
Denmark: Manufacturing production rebounds in June Latest reading: Manufacturing output increased 2.7% month on month in seasonally adjusted terms in June (May: -0.3% mom s.a.). Looking... -
Croatia: Industrial output growth picks up pace in June Latest reading: Industrial production increased 2.1% year on year in working-day adjusted terms in June (May: +1.8% yoy). The improvement...