In January industrial production volume has reduced
Latest data compiled by the Central Statistical Bureau of Latvia show that, compared to January 2013, industrial production in January of this year (according to calendar adjusted data at constant prices) has dropped by 11%. Of which reduction in manufacturing – by 11.3%, in electricity and gas supply – by 11.4%, whereas industrial production in mining and quarrying has grown by 5.7%.
|Volume index of manufacturing|
Data source: Central Statistical Bureau of Latvia
The largest negative impact on the decrease of manufacturing production volume was still due to discontinued economic activity of "Liepājas metalurgs”. In the result of it production volume in manufacture of basic metals (share in manufacturing – 4.6%) diminished by 91.6%.
Significant production volume reduction in January was also recorded in manufacture of beverages (of 23.5%), as well as in manufacture of wearing apparel (of 13.4%) and 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 10%).
But production increase, as compared to January of last year, remained in major manufacturing sectors by share:
- in manufacture of wood and of products of wood - rise of 3.5%, of which increase in manufacture of veneer - by 0.5% and in manufacture of products of wood (chipboard, tare, carpentry tools) - by 6.2%;
- in manufacture of food products - increase of 5.4%, of which growth in both largest sub-sectors: in processing and preserving of meat and production of meat products - by 7.2% and in production of dairy products - by 20.5%;
- in manufacture of fabricated metal products - increase of 2.7%.
In January, compared to December, industrial production output (according to seasonally adjusted data at constant prices) has reduced by 10.7%, of which in manufacturing – by 17.3% and in mining and quarrying – by 3.8%, but in electricity and gas supply there was rise of 5.8%. A year ago, in January 2013, as compared to December 2012, industrial production output reduced by 3.8%.
Among manufacturing sectors the most notable reduction of industrial production, as compared to December, was recorded in the already mentioned manufacture of basic metals (of 80.5%), in the manufacture of beverages (of 17.3%), as well as in manufacture of computer, electronic and optical products (of 15.6%).
Changes in volume of industrial production, %
(at constant prices)
December 2013 (seasonally adjusted)
Mining and quarrying
Manufacture of food products
Manufacture of beverages
Manufacture of textiles
Manufacture of wearing apparel
Manufacturing of wood and cork articles, except furniture
Manufacture of chemicals and chemical products
Manufacture of other non-metallic mineral products
Manufacturing of basic metals
Manufacturing of fabricated metal products, except machinery and equipment
Manufacture of computer, electronic and optical products
Manufacture of electrical equipment
Manufacture of motor vehicles, trailers and semi-trailers
Manufacture of furniture
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)
Electricity and gas supply
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