Industrial production drops 0.9 % in 2014

03.02.2015

Latest data compiled by the Central Statistical Bureau show that compared to 2013 industrial production volume in 2014 (according to calendar adjusted data at constant prices) declined  by 0.9%. It was affected by a decrease of 0.1% in production volume in manufacturing, and of 6.6% in electricity and gas supply. In turn, mining and quarrying witnessed a growth of 3.2%.

Volume index of manufacturing
(2010=100)

Data source: Central Statistical Bureau of Latvia

Compared to 2013 decrease in industrial production in 2014 was affected by industrial production drop in manufacture of basic metals of 49.3%, 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 25%, in manufacture of wearing apparel - of 16.6%, in manufacture of beverages - of 10.2%. Production drop was also observed in manufacture of textiles, manufacture of basic pharmaceutical products, and manufacture of other transport equipment.

In turn, manufacturing sectors having the largest share in industrial production witnessed production growth: in wood processing - of 7.1%, in manufacture of fabricated metal products, except machinery and equipment - of 2.4%, and in manufacture of food products – of 1.8%. Growth was also recorded in manufacture of computer, electronic and optical products – of 61.2%, in manufacture of chemicals and chemical products – of 11.5%, and in manufacture of furniture – of 9.8%.

In the 4th quarter of 2014 compared to the 3rd quarter of 2014, industrial production output according to seasonally adjusted data at constant prices decreased by 0.7%: in mining and quarrying there was a decline of 0.9%, in electricity and gas supply there was a growth of 3.6%, while in manufacturing the output remained at the level of the previous quarter.

In the 4th quarter of 2014 compared to the 4th quarter of 2013 industrial production output according to calendar adjusted data at constant prices decreased by 0.7%, which was affected by a drop in manufacturing of 1.7%. In turn, a growth of 2.8% was recorded in electricity and gas supply, and in mining and quarrying - of 0.2%.

In December 2014 compared to November industrial production volume according to seasonally adjusted data at constant prices grew by 0.2%, of which in manufacturing - by 1.4%. In turn, a drop of 4.7% was recorded in mining and quarrying, and of 1.8% in electricity and gas supply.

In December 2014 compared to December 2013 industrial production output according to calendar adjusted data at constant prices, decreased by 0.5%, of which in manufacturing – by 2.8%, and in mining and quarrying - by 4.3%. In turn, production growth of 6.9% was observed in electricity and gas supply.

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

 

I - XII 2014

compared to

I - XII 2013 (calendar adjusted)

4th qtr of 2014

compared to

XII 2014

compared to

3rd qtr of

2014

 (seasonally adjusted)

4th qtr of

2013

 

(calendar adjusted)

XI 2014 (seasonally adjusted)

XII 2013

(calendar adjusted)

All production

-0.9

-0.7

-0.7

0.2

-0.5

Mining and quarrying

3.2

-0.9

0.2

-4.7

-4.3

Manufacturing

-0.1

0.0

-1.7

1.4

-2.8

Manufacture of food products

1.8

-1.0

-3.5

-1.7

-7.0

Manufacture of textiles

-8.1

-5.8

-13.5

-5.5

-17.9

Manufacture of wearing apparel

-16.6

-4.5

-16.0

-14.9

-30.0

Manufacturing of wood and cork articles, except furniture

7.1

1.0

4.0

-0.4

-1.8

Manufacture of chemicals and chemical products

11.5

3.4

2.8

1.3

10.6

Manufacture of other non-metallic mineral products

1.5

4.4

0.2

3.9

7.5

Manufacture of basic metals

-49.3

10.5

-20.5

-0.6

-26.8

Manufacturing of fabricated metal products, except machinery and equipment

2.4

-5.5

0.0

-3.6

3.8

Manufacture of computer, electronic and optical products

61.2

4.2

57.7

20.8

74.6

Manufacture of electrical equipment

5.0

1.1

4.5

3.3

10.1

Manufacture of motor vehicles, trailers and semi-trailers

5.1

-8.5

-7.8

-3.4

-18.9

Manufacture of furniture

9.8

1.2

9.9

-0.5

10.4

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)

-25.0

-11.8

-31.7

-0.6

-27.0

Electricity and gas supply

-6.6

3.6

2.8

-1.8

6.9

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 database section Industry.

 

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