Press Release

Manufacturing turnover drop over a month - 2%, over a year - increase of 2.1%

Latestdata compiled by the Central Statistical Bureau of Latvia show that, compared to February 2014 manufacturing turnover[1] in March 2014, according to seasonally adjusted data (at current prices), fell by 2%, of which by 6.5% in domestic market. Exportgrew by 4.3% (of which – increase in Eurozone of 6.2% and in Non-eurozone – of 2.2%).

Turnover decrease was recorded in manufacture of wood and of products of wood – of 4.2% (drop in both markets), in manufacture of food products – of 0.2% (fall was observed in domestic market, but in export there was increase), in manufacture of beverages – of 6.2% (reduction in both markets).

Compared to March 2013, manufacturing turnover in industry, according to calendar adjusted data, increased by 2.1%, of which in domestic market by 2.7% and in export – by 1.4% (of which growth in Eurozone – of 7.8%,but in Non-eurozone – decrease of 2%).

Turnover increase in both markets was affected by manufacturing sectors which were largest by share: manufacture of wood and of products of wood – by 13% (in domestic market – by 13.2%, in export – by 12.9%), manufacture of food products – by 5.6% (in domestic market – by 1%, in export – by 19.4%) and metalworking – by 5.6% (in domestic market – by 6.6%, in export – by 4.2%).

In the 1st quarter of 2014, compared to the 4th quarter of 2013, manufacturing turnover, according to seasonally adjusted data, decreased by 1.5%, of which in domestic market – by 0.1% and in export – by 3.4% (of which in Eurozone – by 5.5% and in Non-eurozone – by 1.1%).

Compared to the 1st quarter of the previous year, in the 1st quarter of 2014 manufacturing turnover, according to calendar adjusted data, grew by 1.6%. This growth was mainly influenced by domestic market growth of 6.8%, but in export there was recorded a decrease of 4% (of which reduction in Non-eurozone – of 6.4%, but in Eurozone – increase of 0.7%).

Changes in turnover of selected manufacturing sectors
as % of the 1st quarter of 2014 over the 1st quarter of 2013
(calendar adjusted data)

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

More information:
Industrial Statistics Section
Irēna Bekmane
Phone: +371 67366830

[1] Industrial turnover index characterises monthly changes in demand for industrial goods and services on the market. It includes turnover of  mining and quarrying, as well as of  industrial enterprises at current prices.Industrial turnover breakdown by domestic market and export is used as weights. Unlike industrial goods, turnover index is not defined, i.e., price changes are not taken into account. Turnover only includes own-produced goods sold and industrial services provided.

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