Manufacturing turnover declines 1.1% in 2014

09.02.2015

Latest data compiled by the Central Statistical Bureau show that compared to 2013 manufacturing turnover in 2014 according to calendar adjusted data (at current prices) decreased by 1.1%. In domestic market turnover declined by 0.9%, and in export - by 1.3% (of which in Eurozone by 4.4%, while in Non-eurozone there was a growth of 0.5%).

Turnover decreased (both in domestic market and in export) in manufacture of basic metals - by 58.1%, in repair and installation of machinery and equipment - by 26.7%, in manufacture of electrical equipment - by 21.8%, and in manufacture of wearing apparel - by 15.3%.

In turn growth was recorded in the manufacturing sectors having the largest share: in wood processing - of 10.8% (in domestic market - of 12%, in export - of 9.2%), in manufacture of food products - of 2.3% (in domestic market - of 3.2%, while in export it remained at the level of the previous year), and in manufacture of fabricated metal products - of 6.8% (in domestic market - of 7.6%, in export - of 5.5%).

Changes in turnover of selected manufacturing sectors
2014 as % of 2013 (calendar adjusted data)

Data source: Central Statistical Bureau of Latvia

Compared to the 4th quarter of 2013 manufacturing turnover in the 4th quarter of 2014 according to calendar adjusted data decreased by 4.9%, of which by 6.3% in domestic market and by 3% in export (in Eurozone a drop of 10.4% and an icrease in Non-eurozone of 1.1%).

Compared to the 3rd quarter of 2014 manufacturing turnover in the 4th quarter of 2014 according to seasonally adjusted data remained at the level of the previous year: in domestic market there was an increase of 0.7%, in turn export witnessed a decline of 0.8%(of which a drop in Eurozone of 1.6% and an increase of 0.9% in Non-eurozone).

Compared to December 2013 manufacturing turnover in industry according to calendar adjusted data decreased by 4.7% in December 2014,  of which in domestic market by 2% and in export - by 8.1% (in Eurozone a drop of 14.3% and in Non-eurozone - of 4.8%).

In December 2014 compared to November 2014 manufacturing turnover according to seasonally adjusted data decreased by 0.3%. It was affected by turnover drop of 3% in export (in Non-eurozone - of 3.8%, while in Eurozone there was an increase of 0.5%) and turnover growth of 1.8% in domestic market.

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

 

More information:
Industrial and Construction Statistics Section
Irēna Bekmane
Tel. +37167366830