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Monday 18.06.2018 | Name days: Madis, Alberts
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Manufacturing turnover down 0.8% in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUManufacturing turnover in September according to seasonally adjusted data (at current prices) grew by 3.5%, of which by 3% in domestic market, and by 4% in export, including an increase of 7.1% in Eurozone, and of 3.9% in Non-eurozone.

Compared to the previous month turnover growth was observed in manufacture of machinery and equipment – of 42.1% (growth both – in domestic market and export), in manufacture of motor vehicles, trailers and semi-trailers – of 16.7% (growth in both markets). Turnover growth in both markets was also observed in sectors having the largest share in industrial production: in wood processing – of 9.2%, in manufacture of fabricated metal products, except machinery and equipment – of 5.7%, and in manufacture of food products – of 1%, according to data from the Central Statistical Bureau of Latvia.

Compared to September 2013, manufacturing turnover in industry according to calendar adjusted data decreased by 0.8%, which was affected by turnover drop of 3.2% in domestic market. Growth of 2.4% in export was promoted by turnover increase of 7.9% in Non-eurozone (Eurozone experienced a drop of 6.6%).

Major turnover drop was recorded in the manufacture of electrical equipment – of 29.5% (decrease in domestic market – of 43.9%, and in export – of 21.9%), in repair and installation of machinery and equipment – of 27.6% (affected by a drop of 33% in domestic market, while in export there was a growth of 2.5%), and in manufacture of machinery and equipment – of 17.7% (decline of 27.2% in domestic market, and of 7.2% in export). Turnover decline of 1.2% was also recorded in manufacture of food products. It was due to a drop of 10.2% in export, while in domestic market there was an increase of 2.5%.

In turn, the most significant turnover growth in both markets was recorded in wood processing (of 15.6%), in manufacture of fabricated metal products, except machinery and equipment (of 14.6%), and in manufacture of furniture – of 24.2%.

As compared to Q2 2014 manufacturing turnover in Q3 2014, according to seasonally adjusted data decreased by 1.4%, of which by 3.3% in domestic market. In export there was a growth of 0.9% (of which an increase of 0.7% in Eurozone, and a drop of 0.2% in Non-eurozone).

As compared to Q3 the previous year manufacturing turnover in industry in Q3 2014 (according to calendar adjusted data) decreased by 2.8%; of which in domestic market by 5.1%. In export there was a growth of 0.3% (of which growth of 3.4% in Non-eurozone, and a decrease of 5.1% in Eurozone).

Compared to the corresponding period of the previous year, during the first nine months of 2014 manufacturing turnover grew by 0.2% (according to calendar adjusted data). This growth was mainly promoted by growth of 1% in domestic market, while in export there was a decrease of 0.7%; of which there was a drop of 2.4% in Eurozone, while Non-eurozone witnessed an increase of 0.3%.

Ref: 102.109.109.5783


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