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Industrial production output in Latvia up 2.4% in September

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to September 2015, industrial production output rose by 2.4% in September 2016. Production output in manufacturing increased by 5.6%, in mining and quarrying by 1.1%, but in electricity and gas supply it declined by 14.5%.

Increase in the production output was registered in the proportionally largest manufacturing sectors – manufacture of fabricated metal products, except machinery and equipment (12.3%), manufacture of wood and of products of wood and cork, except furniture (7.8%), and manufacture of food products (4%). Rise in the production output was observed also in manufacture of beverages (18.8%), manufacture of motor vehicles, trailers and semi-trailers (17.4%), and manufacture of furniture (15.4%), according to data from the Central Statistical Bureau of Latvia.

Compared to August, industrial production output in September 2016 rose by 1.5%, according to seasonally adjusted data at constant prices. Production output in manufacturing grew by 2.2%, in mining and quarrying by 0.9%, whereas in electricity and gas supply it declined by 1.2%.

Compared to Q3 2015, industrial production output increased by 1.4% in Q3 2015, according to calendar adjusted data at constant prices; the rise was due to the 3.8% growth in manufacturing. Reduction, in turn, was recorded in mining and quarrying (4.7%) and electricity and gas supply (9.7%) that was due to the decline in volume of electricity produced in combined heat and power plants.

Compared with Q2 2016, industrial production output had dropped by 1.9% in Q3 2016, according to seasonally adjusted data at constant prices. The fall was affected by the output drop of 0.6% in manufacturing, of 6.3% in electricity, electricity and gas supply, and of 3.2% in mining and quarrying.

Compared to the corresponding period of the previous year, industrial production output increased by 3.1% in the nine months of 2016, according to calendar adjusted data. In manufacturing there was a rise of 3.6% and in electricity and gas supply of 4%, while in mining and quarrying there was a decrease of 3.8%. Notable increase in production output was recorded in the proportionally largest manufacturing sector – manufacture of wood and of products of wood and cork, except furniture (7.6%), rise was recorded also in manufacture of fabricated metal products, except machinery and equipment (8.8%), and manufacture of computer, electronic and optical products (14.7%). Decline in production output, in turn, was observed in repair and installation of machinery and equipment (6.7%), manufacture of wearing apparel (4.6%), and manufacture of chemicals and chemical products (3.8%).

According to calendar adjusted data at current prices, in September 2016 industrial production turnover increased by 0.5%, as compared to September 2015. Turnover in export grew by 2.7% (of which by 5% in euro area and by 1% in non-euro area), whereas in domestic market turnover fell by 1.5%.

According to seasonally adjusted data, in September 2016 manufacturing turnover increased by 5%, compared to August. Turnover in the domestic market rose by 4.8% and in export by 5.2% (of which by 11.1% in euro area and by 3.6% in non-euro area).

According to calendar adjusted data, in Q3 2016 manufacturing turnover grew by 1.3%, compared to Q3 2015. According to seasonally adjusted data, manufacturing turnover increased by 0.1%, compared to Q2 2016.

The manufacturing turnover data on July and August were corrected in line with the new and specified information provided by the respondents on the production sold during the period. The most significant corrections were made in the data on the manufacture of other transport equipment.

Ref: 102.109.109.5711


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