Manufacturing turnover in August rose by 1.6%
Latest seasonally adjusted data (at current prices) compiled by the Central Statistical Bureau of Latvia show that, compared to July 2013, manufacturing turnover in August 2013 has increased by 1.6%; of which by 2.3% in domestic market and by 0.7% in export. Manufacturing turnover 1 characterises monthly changes in demand for industrial goods and services on the market.
In comparison with the previous month, the most notable turnover increase was recorded in manufacture of motor vehicles, trailers and semi-trailers – of 37.6% (growth was mainly influenced by the domestic market (increase 2.7 times), while export indicated a reduction of 4.6%), in manufacture of wearing apparel – of 13.7% (of 9.4% in domestic market and of 15.3% in export), and in manufacture of electrical equipment – of 8.9% (of 22.8% in domestic market and of 2.5% in export). Turnover rise was observed also in sectors having the largest shares: wood processing – of 8.2%, metalworking – of 2% and manufacture of food products - of 1.6%.
As compared to July 2013, turnover drop was recorded in manufacture of other transport equipment (building of ships and boats, manufacture of railway locomotives and rolling stock) – of 63.2% (reduction in export, whereas increase in domestic market), in printing and reproduction of recorded media – of 3.6% (decrease in domestic market, while rise in export), and in manufacture of basic metals – of 2.7% (diminish in both markets).
In comparison with August 2012, manufacturing turnover (according to calendar adjusted data) in August 2013 has dropped by 0.7%; of which by 7.8% in export, while in domestic market there was a growth of 5%. As compared to the August of the previous year, the most notable turnover reduction was observed in manufacture of basic metals – of 82.2%, and in manufacture of other transport equipment – of 45.3%. Drop in both sectors was because of the reduction in export.
Changes in turnover of selected manufacturing sectors
August 2013 as % over August 2012 (calendar adjusted data)
Data source: Central Statistical Bureau of Latvia
1 Unlike industrial goods produced that include also goods unfinished and in stock, turnover includes only goods sold and industrial services provided.
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