In January industrial production volume has reduced

06.03.2014

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
(2010=100)

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)

 

January 2014

compared to

December 2013 (seasonally adjusted)

January 2013

(calendar adjusted)

All production

-10.7

-11.0

Mining and quarrying

-3.8

5.7

Manufacturing production

-17.3

-11.3

Manufacture of food products

-0.8

5.4

Manufacture of beverages

-17.3

-23.5

Manufacture of textiles

7.2

6.9

Manufacture of wearing apparel

-5.6

-13.4

Manufacturing of wood and cork articles, except furniture

-8.3

3.5

Manufacture of chemicals and chemical products

0.0

-0.5

Manufacture of other non-metallic mineral products

-1.4

-1.1

Manufacturing of basic metals

-80.5

-91.6

Manufacturing of fabricated metal products, except machinery and equipment

12.8

2.7

Manufacture of computer, electronic and optical products

-15.6

28.0

Manufacture of electrical equipment

-0.4

-6.1

Manufacture of motor vehicles, trailers and semi-trailers

-0.5

28.1

Manufacture of furniture

8.5

8.9

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)

4.3

-10.0

Electricity and gas supply

5.8

-11.4

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production volume indices is available in theCSB databases

 

 

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