Industrial production drop in June – 1.3%

04.08.2014

Latest data compiled by the Central Statistical Bureau of Latvia show that compared to May industrial production volume in June 2014 (according to seasonally adjusted data at constant prices) decreased by 1.3%; of which in manufacturing – by 1.3%, and in mining and quarrying – by 9.4%. In turn, electricity and gas supply witnessed a growth of 2.1%.

Volume index of manufacturing

(2010=100)

Data source: Central Statistical Bureau of Latvia

Compared to June 2013, industrial production output in June this year decreased by 2%, according to calendar adjusted data at constant prices. Of which in mining and quarrying – by 7.6%, and in manufacturing – by 2.2%, while in electricity and gas supply there was an increase of 0.1%. The most significant production drop was recorded in 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) – of 35.7%, in manufacture of beverages – of 26.4%, in manufacture of wearing apparel – of 23.1%, and in manufacture of fabricated metal products, except machinery and equipment – of 5.5%. A significant decrease was also registered in manufacture of basic pharmaceutical products and in manufacture of other transport equipment (building of ships and boats, manufacture of railway locomotives and rolling stock).

Compared to the 1st quarter, industrial production output in the 2nd quarter of this year grew by 2.4%, according to seasonally adjusted data at constant prices. Of which in manufacturing – by 3.7%, in mining and quarrying – by 0.6%, and in electricity and gas supply - by 1.3%.

Compared to the 2nd quarter of 2013, volume of industrial production in the 2nd quarter of this year dropped by 0.2%, according to calendar adjusted data at constant prices; the fall was caused by the drop in electricity and gas supply (of 9.7%). In turn, industrial production in manufacturing grew by 1.8%, and in mining and quarrying – by 9%.

As compared to the corresponding period of the previous year, industrial production output (according to calendar adjusted data) in the first half of 2014 decreased by 1.4%. This drop was affected by a decrease of production volume in electricity and gas supply of 11.1%, while in manufacturing and in mining and quarrying there was a rise of 1.1% and 8.8%, respectively. During the first six months the most notable growth in manufacturing was recorded in manufacture of computer, electronic and optical products – of 58.7%, in manufacture of chemicals and chemical products – of 20.6%, and in manufacture of furniture – of 9.4%. As compared to the corresponding period of the previous year, in the first half of this year the two manufacturing sectors having the largest share in industrial production witnessed an increase: wood processing of 7.9%, and manufacture of food products - of 6% (growth was recorded in all six months).

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

 

January - June 2014

compared to

January-June 2013

 (calendar adjusted)

2nd qtr of 2014

compared to

June 2014

compared to

1st qtr of

2014

 (seasonally adjusted)

2nd qtr of 

2013

(calendar adjusted)

May 2014
(seasonally adjusted)

June 2013

(calendar adjusted)

All production

-1.4

2.4

-0.2

-1.3

-2.0

Mining and quarrying

8.8

0.6

9.0

-9.4

-7.6

Manufacturing

1.1

3.7

1.8

-1.3

-2.2

Manufacture of food products

6.0

0.1

5.2

-0.6

2.3

Manufacture of textiles

-5.3

-10.6

-12.2

-5.3

-12.6

Manufacture of wearing apparel

-16.5

-4.7

-16.6

-7.3

-23.1

Manufacturing of wood and cork articles, except furniture

7.9

2.0

9.0

2.1

10.8

Manufacture of chemicals and chemical products

20.6

1.1

24.2

9.1

63.1

Manufacture of other non-metallic mineral products

7.4

1.5

9.0

-2.7

0.1

Manufacturing of basic metals

-66.1

16.2

-36.0

28.6

-6.4

Manufacturing of fabricated metal products, except machinery and equipment

1.1

4.3

3.0

-2.2

-5.5

Manufacture of computer, electronic and optical products

58.7

20.9

68.4

5.2

68.4

Manufacture of electrical equipment

6.7

0.3

3.9

-10.3

-5.3

Manufacture of motor vehicles, trailers and semi-trailers

5.4

-1.1

0.8

3.8

0.9

Manufacture of furniture

9.4

2.6

9.1

-2.4

5.8

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)

-23.1

-14.4

-29.7

-0.7

-35.7

Electricity and gas supply

-11.1

1.3

-9.7

2.1

0.1

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

 

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