Manufacturing turnover in May decreased by 3%
Latest data compiled by the Central Statistical Bureau of Latvia show that compared to April manufacturing turnover in May 2014 according to seasonally adjusted data (at current prices), decreased by 3%, of which by 3.6% in domestic market and by 2.2% in export (drop in export to Eurozone - 7.3%, while in export to Non-eurozone there was a growth of 2.2%).
Compared to the previous month turnover drop of 21.2% was recorded in manufacture of chemicals and chemical products, which was affected by turnover drop of 37.5% in export, despite the turnover growth of 14.7% in domestic market. Turnover drop of 12.2% was also recorded in manufacture of rubber and plastic products (in domestic market - of 14.9% and in export - of 4.6%), and in manufacture of machinery and equipment - of 10.4% (in domestic market - of 24.2%, and in export - of 0.1%).
Decrease was also recorded in two manufacturing sectors having the largest share in industrial production: in manufacture of food products - of 1.3% (in domestic market - of 0.7%, in export - of 3.1%), as well as in manufacture of fabricated metal products, except machinery and equipment - of 5.5%. It was affected by turnover drop in domestic market of 9.5% (in export there was an increase of 1.7%).
Compared to April turnover growth in May was recorded in manufacture of furniture – of 10.8% (in domestic market - of 18.7%, in export - of 0.2%); in manufacture of wood and of products of wood - of 2.4% (increase in export - 6.2%, and drop in domestic market - 0.5%); in manufacture of computer, electronic and optical products - of 1.5% (growth in export - 4.2% and decrease in domestic market - 5%).
Compared to May 2013, manufacturing turnover in industry (according to calendar adjusted data) in May 2014 increased by 0.1%, of which in export - by 0.6% (growth in Non-eurozone – 3.8% and drop in Eurozone - 4.5%); in turn, in domestic market there was a decrease of 0.2%.
Changes in turnover of selected manufacturing sectors
May 2014 as % of May 2013 (calendar adjusted data)
More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in the CSB databases
Industrial Statistics Section
Tel. +371 67366830
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.