Latvia skyline

Latvia Industry

Latvia Industry

Industrial Production in Latvia

Latvia recorded an average industrial production growth rate of 2.4% in the decade to 2022, above the 1.1% average for the Euro Area. In 2022, Latvia's industrial production growth was 0.8%. 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 2023.
Source: Central Statistical Bureau of Latvia.

Latvia Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 2.0 0.8 -1.8 6.5 0.8

Industrial output grows at fastest pace in over one year in December

Industrial output expanded 1.7% year on year in December (November: -2.9% yoy). December's figure marked the best reading since November 2022. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying and electricity and gas supply sub-sectors all improving in December. On a monthly basis, factory output increased 1.2% in seasonally adjusted terms in December, contrasting November’s 0.7% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.1%, down from November's minus 5.7% 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

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