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Industrial output in Latvia up 8.5%

Photo: pixabay.com.

Compared to 2016, industrial production output increased by 8.5 % in 2017. The rise was influenced by the upturn in manufacturing (8.2 %), mining and quarrying (18.5 %) and electricity and gas supply (8.2 %).


Compared to December 2016, industrial production output grew by 5.5 % (according to calendar adjusted data at constant prices) in December 2017. Production output rise was recorded in manufacturing (of 7.7 %), mining and quarrying (14.4 %), while drop was observed in electricity and gas supply (of 1.5 %), according to data from the Central Statistical Bureau of Latvia.
 

Compared to December 2016, a significant output increase was observed in medium-high technologies manufacturing sectors: manufacture of machinery and equipment (of 41.4 %), manufacture of motor vehicles, trailers and semi-trailers (38.9 %), manufacture of chemicals and chemical products (30.2 %), and manufacture of electrical equipment (8.9 %). Notable rise was observed also in manufacture of non-metallic mineral products (of 21.8 %), manufacture of fabricated metal products, except machinery and equipment (12.9 %), and manufacture of food products (3.2 %).
 

Output reduction, in turn, was registered in the sector having the largest share in the industrial production – manufacture of wood and of products of wood and cork, except furniture (of 3.2 %), as well as manufacture of computer, electronic and optical products (7.6 %) and manufacture of basic pharmaceutical products and pharmaceutical preparations.
 

Compared to November 2017, industrial production output, according to seasonally adjusted data at constant prices, went up by 1.3 % in December 2017, of which in manufacturing by 0.3 %, in electricity and gas supply by 4.5 %, whereas in mining and quarrying there was a drop of 1.4 %.
 

Compared to 2016, manufacturing turnover increased by 9.2 % in 2017. The rise was due to the turnover upturn of 7.2 % on the domestic market and of 11.3 % in export (of which by 17 % in euro area and 7 % in non-euro area).
 

Compared to December 2016, manufacturing turnover grew by 10.1 % in December 2017, of which turnover on the domestic market went up by 12.6 % and in export by 7.2 % (by 11.9 % in euro area and by 3.8 % in non-euro area), while compared to November, turnover (according to seasonally adjusted data) fell by 2.9 %. Turnover on the domestic market rose by 0.8 %, and in export there was a decline of 6.7 % (of which by 1.7 % in euro area and by 9.2 % in non-euro area).

BNN

05-02-2018
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