Manufacturing turnover witnessed 1.1% growth in June

10.08.2015

Latest data compiled by the Central Statistical Bureau show that compared to May manufacturing turnover1 in June 2015 according to seasonally adjusted data (at current prices) increased by 1.1%. In domestic market turnover witnessed a growth of 2.1%, while in export remained at the level of the previous month (of which in Eurozone there was a growth of 1.1% and in Non-eurozone - a drop of 3.1%).

Compared to June 2014 manufacturing turnover in June 2015 according to calendar adjusted data increased by 0.4%. It was affected by a growth in export of 4.9% (of which in Eurozone - increase of 29.9%, and in Non-eurozone - decline of 7.8%), while domestic market witnessed a decrease of 3.1%.

As compared to the 1st quarter of 2015 manufacturing turnover in the 2nd quarter of  2015, according to seasonally adjusted data increased by 1.6%, of which a growth in export of 4.8% (increase in Non-eurozone - 7.3% and drop in Eurozone - 1.8%); in turn in domestic market there was a decline of 1%.

Compared to the 2nd quarter of the previous year, in the 2nd quarter of 2015 manufacturing turnover, according to calendar adjusted data remained at the level of the previous year. In domestic market turnover declined by 5.6%, while in export there was a growth of 7.1% (of which in Eurozone - increase of 23.2%, and in Non-eurozone - drop of 1.7%).

Compared to the corresponding period of the previous year, in the first six months of 2015 manufacturing turnover according to calendar adjusted data decreased by 1.3%. There was a drop in domestic market of 6.3%; in turn, export witnessed a growth of 4.8%, which was affected by a growth in Eurozone of 22.3%; in turn in Non-eurozone there was a decline of 4.8%.

Changes in turnover of selected manufacturing sectors in the first six months of 2015, as % of the first six months of 2014 (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 section Industry.

1 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
Līga Pranča
Tel:. +371 67366953