In January, volume of industrial production grew by 4.6 %

07.03.2016

Data compiled by the Central Statistical Bureau of Latvia show that, compared to January 2015, in January 2016 volume of industrial production increased by 4.6 % (according to calendar adjusted data at constant prices); the rise was due to the growth in electricity and gas supply of 31.8 %. Industrial production in mining and quarrying went up by 2.7 %, while in manufacturing there was a drop of 2.9 %, of which in sectors having the largest share – manufacture of food products (of 5.9 %), manufacture of fabricated metal products, except machinery and equipment (of 1.5 %), and repair and installation of machinery and equipment (of 36.5 %). Rise in the industrial production was recorded in manufacture of wood and of products of wood, manufacture of furniture, manufacture of paper and paper products, and manufacture of chemicals and chemical products.

Compared to December 2015, in January 2016 volume of industrial production (according to seasonally adjusted data at constant prices) fell by 0.3 %, of which in manufacturing by 3.2 %, whereas in electricity and gas supply there was a growth of 3.2 % and in mining and quarrying – of 5.6 %.

Volume index of manufacturing (2010=100)

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

 

January 2016

compared to

December 2015

(seasonally adjusted)

January 2015

 (calendar adjusted)

Total production

-0.3

4.6

Mining and quarrying

5.6

2.7

Manufacturing

-3.2

-2.9

Manufacture of food products

-1.9

-5.9

Manufacture of textiles

12.9

20.0

Manufacture of wearing apparel

6.0

0.6

Manufacturing of wood and cork articles, except furniture

-2.4

9.1

Manufacture of chemicals and chemical products

-0.2

6.1

Manufacture of other non-metallic mineral products

14.3

1.2

Manufacturing of fabricated metal products, except machinery and equipment

8.4

-1.5

Manufacture of computer, electronic and optical products

-15.7

-14.7

Manufacture of electrical equipment

-7.5

1.9

Manufacture of machinery and equipment

-7.3

-9.5

Manufacture of motor vehicles, trailers and semi-trailers

5.6

-0.3

Manufacture of furniture

-1.4

3.5

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)

-13.6

-36.5

Electricity and gas supply

3.2

31.8

Manufacturing turnover

Compared to January 2015, in January 2016 manufacturing turnover (according to calendar adjusted data at current prices) reduced by 1 %. Turnover in domestic market decreased by 4.8 %, while in export it went up by 3.1 %. Sale of goods in euro area rose by 4.5 % and in non-euro area – by 1.8 %.

Compared to December 2015, in January 2016 manufacturing turnover (according to seasonally adjusted data) increased by 0.5 %. Export witnessed a growth of 2 % (of which of 7 % in euro area and of 0.7 % in non-euro area), while domestic market – a decrease of 0.8 %.

Changes in turnover of selected manufacturing sectors in January 2016, as % of January 2015 (calendar adjusted data)

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production and turnover indices is available in the CSB database section Industry.

Methodological explanations:

The volume index of industrial production describes changes in the volume of industrial production in the reference period compared to the base period. The volume index of industrial production is estimated by recalculating production output indicator at constant prices with the help of producer prices.

Industrial Turnover Index measures monthly development of market demand for industrial goods and services. It is calculated at current prices, not excluding price influence. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.

Changes in methodology:
Starting from this period, the data on industrial production output and turnover are seasonally and calendar adjusted with software JDemetra+. When moving to the software JDemetra+, CSB will not change the time series seasonal adjustment methodology used till now. Still the TRAMO/SEATS method for data adjustments and calendar of national holidays in Latvia will be used; moreover, as new data are added to time series, the whole seasonally adjusted time series will be recalculated. More information on data calculation methodology is available in CSB website: Key Indicators — Industry — subsection Metadata.

 

Media requests:
Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Tel.: +371 67366924, +371 67366621, +371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

More information on data:
Industrial and Construction Statistics Section
Irēna Bekmane
Irena [dot] bekmane [at] csb [dot] gov [dot] lv
Tel. +371 67366830