Analytics, Energy, Industry, Latvia, Markets and Companies

Compared to the corresponding month of the previous year, the largest increase in manufacturing was recorded in the sectors of manufacture of motor vehicles, trailers and semi-trailers (of 27%), repair and installation of machinery and equipment (of 25.6%), manufacture of computer, electronic and optical products (of 24.6%), manufacture of machinery and equipment (of 17.8%). Just as in previous months, an increase in production output was recorded in manufacture of wood and of products of wood and cork, except furniture (of 3.6%), as well as in manufacture of fabricated metal products, except machinery and equipment (of 7.3%).

In turn, a decrease in production output was recorded in manufacture of food products (of 3.4%), manufacture of paper and paper products (of 7.2%), manufacture of beverages (of 6.6%), manufacture of textiles (of 6.5%), as well as in manufacture of basic pharmaceutical products and pharmaceutical preparations.

Compared to April 2018, in May 2018 industrial production output went down by 0.2% (according to seasonally adjusted data at constant prices), as this was influenced by a drop in electricity and gas supply (of 6.7%), whereas growth was recorded in manufacturing (1.9%), as well as in mining and quarrying (9.4%).

Volume index of manufacturing (2015=100)

Changes in industrial production output (as per cent, at constant prices)

* repair and maintenance of ships and boats, repair of fabricated metal products, machinery and equipment, installation of industrial machinery and equipment.

Manufacturing turnover²

Compared to May 2017, in May 2018 manufacturing turnover increased by 9.6% (according to calendar adjusted data at current prices). Turnover on the domestic market went up by 11.1% and in export by 8.8% (of which by 14.8% in euro area and by 4.1% in non-euro area).

Compared to April 2018, in May 2018 manufacturing turnover grew by 5.1% (according to seasonally adjusted data). Turnover on the domestic market increased by 3.9% and in export by 5.8% (of which by 11.4% in euro area and by 3.1% in non-euro area).

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production volume and turnover indices (including by sector) is available in the Industry section of the CSB database.

Methodological explanations

¹The volume index of industrial production describes changes in the volume of industrial production during the reference period in comparison to the base period. The index is estimated by recalculating the production output indicator at constant prices with the help of producer price indices.

²The industrial turnover index measures the monthly development of market demand for industrial goods and services. It is calculated at current prices without excluding price influence. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.