Industrial production declines 1.4% in August

05.10.2015

Latest data compiled by the Central Statistical Bureau show that, compared to July industrial production volume in August 2015 (according to seasonally adjusted data at constant prices) decreased by 1.4%. Decline was caused by decrease of 3% in manufacturing; in turn, growth of 7.1% was recorded in mining and quarrying, and of 7.3% in electricity and gas supply. Growth in energy sector was promoted by increase in production of electricity in cogeneration power plants.

Volume index of manufacturing

(2010=100)

Data source: Central Statistical Bureau of Latvia

Compared to August 2014 industrial production volume in August 2015 (according to calendar adjusted data at constant prices) grew by 6.4%, of which in mining and quarrying – by 14.1%, in manufacturing – by 4.8%, and in electricity and gas supply - by 12.4%.

The largest production growth in August 2015 as compared to the corresponding period of the previous year was registered in manufacture of basic metals. Growth was also recorded in manufacture of machinery and equipment - of 23.3%, in manufacture of furniture – of 19.5%, and in manufacture of computer, electronic and optical products - of 14.9%. Production increase was also registered in the sector having the largest share - in manufacture of wood and wood articles - of 4.2%.

In turn, production drop was recorded in the manufacturing sectors with a large share: in manufacture of food products - of 5.4% (the greatest drop was registered in processing of fish), and in manufacture of fabricated metal products, except machinery and equipment - of 12.3%. Production decrease was also observed in manufacture of wearing apparel - of 22.3%, and in manufacture of other non-metallic mineral products - of 8.2%.

Changes in volume of industrial production, %
(at constant prices)

 

January - August 2015

compared to

January – August

2014

 (calendar adjusted)

August 2015

compared to

July 2015

(seasonally adjusted)

August    

2014 (calendar adjusted)

Total production

4.7

-1.4

6.4

Mining and quarrying

10.4

7.1

14.1

Manufacturing

5.9

-3.0

4.8

Manufacture of food products

-4.6

-10.5

-5.4

Manufacture of textiles

-9.9

-4.1

-2.6

Manufacture of wearing apparel

-16.8

-8.8

-22.3

Manufacture of wood and cork articles, except furniture

6.5

-3.3

4.2

Manufacture of chemicals and chemical products

1.2

16.3

13.7

Manufacture of other non-metallic mineral products

-8.5

-0.9

-8.2

Manufacture of fabricated metal products, except machinery and equipment

-3.3

-6.8

-12.3

Manufacture of computer, electronic and optical products

42.7

0.2

14.9

Manufacture of electrical equipment

-2.0

-14.9

-1.0

Manufacture of machinery and equipment

11.6

-3.9

23.3

Manufacture of motor vehicles, trailers and semi-trailers

4.7

-9.7

-5.7

Manufacture of furniture

15.0

2.4

19.5

Repair and installation of machinery and equipment (repair and maintenance of ships and boats, repair of fabricated metal products, machinery and equipment, installation of industrial machinery and equipment)

-4.1

-0.1

-13.4

Electricity and gas supply

-2.5

7.3

12.4

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production volume indices and weights structure used for the calculations is available in the CSB database section Industry.

 

More information:
Industrial and Construction Statistics Section
Irēna Bekmane
Tel. +371 67366830