Manufacturing turnover drop in August - 1.9%

09.10.2015

Latest data compiled by the Central Statistical Bureau show thatcompared to July manufacturing turnover1 in August 2015 according to seasonally adjusted data (at current prices) declined by 1.9%. Turnover decrease was mainly influenced by export - of 4.5% (reduction in Non-eurozone - of 4.9% and increase in Eurozone - of 3.1%). In turn, in domestic market turnover increased by 0.3%.

Turnover decrease was recorded in manufacture of metals, in manufacture of other transport equipment (building of ships and boats, manufacture of railway locomotives and rolling stock), in manufacture of motor vehicles, trailers and semi-trailers – of 9%, in manufacture of electrical equipment – of 8.3% and in manufacture of textiles – of 7.6%. Drop was also recorded in sectors having the largest share in industrial production: in wood processing – of 2.8% and in manufacture of fabricated metal products, except machinery and equipment – of 6%.

In turn, turnover increase as compared to the previous month was observed in manufacture of chemicals and chemical products – of 19.5%, in manufacture of beverages – of 15.8% and in manufacture of furniture – of 4.1%.

Compared to August 2014 manufacturing turnover, according to calendar adjusted data, increased by 0.2%, which was affected by turnover growth in export of 1.4% (of which in Eurozone of 32.4%, and in Non-eurozone – reduction of 13.8%), while domestic market witnessed a drop of 0.7%.

Changes in turnover of selected manufacturing sectors in August 2015, as % of August 2014 (as per cent, calendar adjusted data)

Data source: Central Statistical Bureau of Latvia

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

Industrial Turnover Index characterises monthly changes in demand for industrial goods and services on the market. It is calculated as a non-deflated (at current prices,not excluding the effect of prices) weighted index, using industrial turnover in breakdown in domestic market and exports as the weights. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.

 

More information:
Industrial and Construction Statistics Section
Irēna Bekmane
+371 67366830