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Industrial production output in Latvia down 1.9%

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Compared to October 2017, industrial production output reduced by 1.9 % in October 2018. The decline was caused by the output reduction in electricity and gas supply (of 17.7 %), however rise was recorded in manufacturing (of 3.3 %) and mining and quarrying (of 6.3 %).

Compared to the corresponding month of the previous year, industrial production output increased in two out of the three sectors having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture (by 6.2 %) and manufacture of fabricated metal products (by 2.9 %). Output upturn was also recorded in manufacture of electrical equipment (of 20.2 %), manufacture of motor vehicles, trailers and semi-trailers (16.8 %), as well as manufacture of computer, electronic and optical products (16.7 %), according to data from the Central Statistical Bureau of Latvia.
 

In its turn, production output decline was registered in manufacture of beverages (of 8 %), manufacture of paper and paper products (7.8 %), printing and reproduction of recorded media (7.6 %), as well as manufacture of food products (3.2 %).
 

Compared to September 2018, industrial production output had reduced by 1.3 % in October 2018. Of which output in electricity and gas supply fell by 11.9 %, while in mining and quarrying as well as manufacturing there was a rise of 1 %.
 

Compared to October 2017, manufacturing turnover had increased by 8.6 % in October 2018. Turnover on the domestic market went up by 8.4 % and in export by 8.8 % (of which in Eurozone by 13.1 % and in non-Eurozone by 4.7 %).
 

Compared to September 2018, manufacturing turnover rose by 1.2 % in October 2018.  Turnover on the domestic market grew by 0.8 % and in export by 1.5 % (increase in Eurozone of 1.6 % and a drop of 1 % in non-Eurozone).

BNN

04-12-2018
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