Latest reading: Industrial output grew 5.8% compared to the same month a year earlier in May, which was a deterioration...
Industrial Production in Latvia
In the year 2024, the industrial production in Latvia was -2.16%, compared to -0.87% in 2014 and -4.80% in 2023. It averaged 1.57% over the last decade. 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 rebounds in April
Latest reading: Industrial output rose 1.9% in year-on-year terms in April, which contrasted March's 2.5% decrease. Looking at the details of the release, manufacturing production rebounded in April, while the decline in mining and quarrying output worsened. On a monthly basis, factory output increased 0.7% in seasonally adjusted terms in April, contrasting March’s 2.1% fall. Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 6.0% in April, up from March's minus 6.1%.
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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Kazakhstan: Industrial output loses momentum in May -
Euro Area: Industrial output falls at sharpest pace since July 2023 in April Latest reading: Industrial output declined 2.4% in month-on-month seasonally adjusted terms in April, which contrasted March’s 2.4% increase. April’s figure... -
Uruguay: Manufacturing activity growth eases in April Latest reading: Manufacturing output grew 7.2% in year-on-year terms in April, which followed March’s 16.2% increase. April’s reading was largely... -
Turkey: Industrial output records largest decrease in one year in April Latest reading: Industrial output decreased 3.1% in month-on-month seasonally adjusted terms in April, which contrasted March’s 3.4% increase. The result... -
Cyprus: Industrial output growth speeds up in April Latest reading: Industrial output increased 4.9% year on year in calendar-adjusted terms in April, which was above March’s 1.8% increase.... -
Sweden: Industrial output rebounds sharply in April Latest reading: Industrial output—excluding energy—recovered following three consecutive monthly declines in April, expanding 3.3% month on month in seasonally and... -
Argentina: Industrial output growth rises in April Latest reading: Industrial output expanded 8.5% compared to the same month of the previous year in April, which was above...