Industrial production growth in March - 0.2%

06.05.2014

Latest data compiled by the Central Statistical Bureau of Latvia show that, compared to February industrial production volume in March 2014 (according to seasonally adjusted data at constant prices) rose by 0.2%; the increase was mainly due to the growth in manufacturing of 2.5%. A drop, in turn, was observed in mining and quarrying - of 2.3%, and in electricity and gas supply - of 4.8%.

Volume index of manufacturing (2010=100)

Compared to March 2013, industrial production in March this year (according to calendar adjusted data at constant prices) dropped by 1.6% due to decrease in prices of electricity and gas supply - of 19.2%.  Increase, in turn, was observed in manufacturing - of 3.9% and in mining and quarrying - of 15.4%.

The most notable growth was recorded in manufacture of computer, electronic and optical products – of 83.2%, in manufacture of chemicals and chemical products – of 43.2%, and in manufacture of machinery and equipment – of 20.5%. A significant production volume growth was also recorded in the manufacturing sectors having the largest share in industrial production:manufacture of wood and cork articles (of 10.2%), and in manufacture of food products (of 4.5%).

As compared to the 4th quarter of 2013, industrial production output in the 1st quarter of 2014 decreased by 3.4%, according to seasonally adjusted data at constant prices. Of which in manufacturing – by 5.6%, and in electricity and gas supply - by 3.4%, whereas in mining and quarrying there was an increase of 0.8%.

Compared to corresponding quarter of the previous year, in the 1st quarter of 2014 industrial production output dropped by 2.8%, according to calendar adjusted data at constant prices. In electricity and gas supply there was a drop of 11.9%, while a growth in manufacturing of 0.3% and in mining and quarrying - of 8.4%.

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

 

1st qtr of 2014

compared to

March 2014

compared to

4th qtr 2013

 (seasonally adjusted)

1st qtr 2013

(calendar adjusted)

February 2014

(seasonally adjusted)

March 2013    

(calendar adjusted)

All production

-3.4

-2.8

0.2

-1.6

Mining and quarrying

0.8

8.4

-2.3

15.4

Manufacturing production

-5.6

0.3

2.5

3.9

Manufacture of food products

1.2

6.8

-2.5

4.5

Manufacture of textiles

-3.8

2.5

-0.2

-1.6

Manufacture of wearing apparel

-6.6

-16.4

6.7

-17.0

Manufacturing of wood and cork articles, except furniture

-1.5

6.7

1.2

10.2

Manufacture of chemicals and chemical products

6.0

16.0

11.6

43.2

Manufacture of other non-metallic mineral products

1.5

5.2

-1.3

8.8

Manufacturing of basic metals

-48.0

-81.0

-3.6

-79.5

Manufacturing of fabricated metal products, except machinery and equipment

2.0

-1.0

4.1

-1.8

Manufacture of computer, electronic and optical products

2.0

48.1

27.3

83.2

Manufacture of electrical equipment

-0.2

10.4

-6.5

11.8

Manufacturing of machinery, mechanisms, and equipment

1.5

11.0

11.5

20.5

Manufacture of motor vehicles, trailers and semi-trailers

-2.4

11.6

-3.7

5.4

Manufacture of furniture

5.2

9.6

4.9

19.1

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)

-14.7

-13.6

2.9

-18.1

Electricity and gas supply

-3.4

-11.9

-4.8

-19.2

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

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