According to calendar-adjusted data, industrial output in Latvia has increased by 7.7% at constant prices in eight months of this year compared to the corresponding period of 2020, according to the Central Statistical Bureau (CSB).
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Of which, manufacturing grew by 8.7%, while mining and quarrying grew by 7.7% and electricity and gas supply by 2.7%.
CSB data show that in August this year, compared to August 2020, the volume of industrial production according to calendar adjusted data at constant prices increased by 3.7%.
It was influenced by an increase in production in manufacturing – by 7.9% and in mining and quarrying – by 13.7%, but in electricity and gas supply there was a decrease by 31.3% (the volume of electricity produced in cogeneration plants and gas supply to consumers decreased) .
Compared to the corresponding month of the previous year, the production of high and medium-high-tech sectors such as the manufacture of basic pharmaceutical products and pharmaceutical preparations, the manufacture of motor vehicles, trailers and semi-trailers – by 42.7% and the manufacture of chemicals and chemical products – by 40% remained significant. .4%.
Output also increased in the manufacture of wearing apparel – by 25.9%, in the manufacture of furniture – by 25.8% and in the largest manufacturing industries: in the manufacture of wood and of products of wood and cork – by 6.7%, in the manufacture of food products – by 1, 3% and in manufacture of fabricated metal products, except machinery and equipment – by 3.9%.
At the same time, the production volume decreased in the manufacture of paper and paper products – by 16.9% and in the repair and installation of machinery and equipment – by 7.3%.
In August 2021, compared to July 2021, the volume of industrial production according to seasonally adjusted data at constant prices decreased by 2%.
The decrease in production was in electricity and gas supply – by 32.9% and in mining and quarrying – by 2.3%, but in manufacturing – by 0.6%.
In August 2021, compared to August 2020, the turnover of manufacturing according to calendar adjusted data at current prices increased by 27%. Turnover in the domestic market increased by 21.7% and in exports – by 29.9% (including in the euro area – by 15.7%, outside the euro area – by 41.7%).
In August 2021, compared to July 2021, the turnover of manufacturing decreased by 0.2% according to seasonally adjusted data. Turnover in the domestic market decreased by 3.2%. In turn, the turnover in exports increased by 1.3% (including 2.8% outside the euro area, but decreased by 0.7% in the euro area).
As the Ministry of Economics (MoE) pointed out to LETA, the rapid growth of demand in the largest market for Latvian goods – the European Union (EU) – enables Latvia to continue to show high growth rates.
“The manufacturing industry is expected to continue to have the potential for development, especially at the expense of rising exports. restriction, “said the ministry.
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