Latest reading: Industrial production rose 4.1% on a year-on-year basis in May, following a 2.9% rise in the prior month....
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 2025.
Source: Macrobond.
Latvia Industry Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | 6.5 | 0.8 | -6.0 | -2.4 | 4.0 |
Industrial production decelerates in April
Latest reading: Industrial production was up 7.0% on a calendar-adjusted year-on-year basis in April, following a 9.5% rise in the prior month. Relative to the prior month's figures, the reading for electricity and gas supply worsened in April (+12.1% in annual terms vs +34.6% in March). In contrast, readings picked up for manufacturing (+6.8% vs +4.4% in March) and mining and quarrying (-8.3% vs -21.4% in March). In seasonally adjusted month-on-month terms, industrial production increased 0.1% in April, following a 1.2% increase in the prior month.
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 6 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
-
Poland: Industrial production gains steam in May -
Kazakhstan: Industrial production decelerates in May Latest reading: Industrial production was up 4.7% on a year-on-year basis in May, following 9.6% growth in the previous month.... -
Belarus: Industrial production contracts less quickly in May Latest reading: Industrial production was down 1.4% on a year-on-year basis in May, following a 2.5% drop in the previous... -
Euro Area: Industrial production decelerates in April Latest reading: Industrial production increased 0.1% in seasonally adjusted month-on-month terms in April, following 0.4% growth in the prior month.... -
Hungary: Industrial production loses momentum in April Latest reading: Industrial production increased 1.2% in annual terms in April, following a 3.6% rise in the previous month. Relative... -
Cyprus: Industrial production loses momentum in April Latest reading: Industrial production rose 1.6% in calendar-adjusted year-on-year terms in April, following 2.5% growth in the prior month. Relative... -
Japan: Industrial production rebounds in April Latest reading: Industrial production was up 0.5% in seasonally adjusted month-on-month terms in April, following a 0.4% drop in the...