Compared to August manufacturing turnover grew 3.5% in September
Latest data compiled by the Central Statistical Bureau show that compared to August manufacturing turnover1 in September according to seasonally adjusted data (at current prices) grew by 3.5%, of which by 3% in domestic market, and by 4% in export (an increase of 7.1% in Eurozone, and of 3.9% in Non-eurozone).
Compared to the previous month turnover growth was observed in manufacture of machinery and equipment – of 42.1% (growth both - in domestic market and export), in manufacture of motor vehicles, trailers and semi-trailers - of 16.7% (growth in both markets). Turnover growth in both markets was also observed in sectors having the largest share in industrial production: in wood processing - of 9.2%, in manufacture of fabricated metal products, except machinery and equipment - of 5.7%, and in manufacture of food products – of 1%.
Compared to September 2013, manufacturing turnover in industry according to calendar adjusted data decreased by 0.8%, which was affected by turnover drop of 3.2% in domestic market. Growth of 2.4% in export was promoted by turnover increase of 7.9% in Non-eurozone (Eurozone witnessed a drop of 6.6%).
Major turnover drop was recorded in the manufacture of electrical equipment – of 29.5% (decrease in domestic market – of 43.9%, and in export – of 21.9%), in repair and installation of machinery and equipment - of 27.6% (affected by a drop of 33% in domestic market, while in export there was a growth of 2.5%), and in manufacture of machinery and equipment – of 17.7% (decline of 27.2% in domestic market, and of 7.2% in export). Turnover decline of 1.2% was also recorded in manufacture of food products. It was due to a drop of 10.2% in export, while in domestic market there was an increase of 2.5%.
In turn, the most significant turnover growth in both markets was recorded in wood processing (of 15.6%), in manufacture of fabricated metal products, except machinery and equipment (of 14.6%), and in manufacture of furniture – of 24.2%.
As compared to the 2nd quarter of 2014 manufacturing turnover in the 3rd quarter of 2014, according to seasonally adjusted data decreased by 1.4%, of which by 3.3% in domestic market. In export there was a growth of 0.9% (of which an increase of 0.7% in Eurozone, and a drop of 0.2% in Non-eurozone).
As compared to the 3rd quarter of the previous yearmanufacturing turnover in industry in the 3rd quarter of 2014 (according to calendar adjusted data) decreased by 2.8%; of which in domestic market by 5.1%. In export there was a growth of 0.3% (of which growth of 3.4% in Non-eurozone, and a decrease of 5.1% in Eurozone).
Compared to the corresponding period of the previous year, during the first nine months of 2014 manufacturing turnover grew by 0.2% (according to calendar adjusted data). This growth was mainly promoted by growth of 1% in domestic market, while in export there was a decrease of 0.7% (of which drop of 2.4% in Eurozone, while Non-eurozone witnessed an increase of 0.3%).
|Changes in turnover of selected manufacturing sectors|
nine months of 2014, as % of the corresponding period of 2013 (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 databases.
Industrial Statistics Section
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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.