Latest reading: Industrial production expanded 12.7% on a year-on-year basis in June, following a 8.8% rise in the previous 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. %) | 6.4 | 0.8 | -5.9 | -2.4 | 4.0 |
Industrial production decelerates in May
Latest reading: Industrial production was up 6.2% on a calendar-adjusted year-on-year basis in May, following 7.0% growth in the prior month. Relative to the prior month's figures, readings in May worsened for manufacturing (+6.0% in annual terms vs +6.8% in April) and electricity and gas supply (+10.5% vs +12.1% in April). In contrast, the reading for mining and quarrying improved in May (+2.4% vs -8.3% in April). In seasonally adjusted month-on-month terms, industrial production increased 0.4% in May, following a flat reading 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
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