Daily magazine about Latvia www.latviannews.lv
It often requires more courage to dare to do right than to fear to do wrong.
Abraham Lincoln
Russian version

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).


Before the comment please read the rules of use our webpage.. Thank you.