Industrial production output in Latvia down 3.6% in March

Maxipl – Compared to March 2019, industrial production output dropped by 3.6 % in March 2020, according to calendar adjusted data at constant prices. The decline was due to the output reduction in manufacturing (of 3.6 %), electricity and gas supply (4.8 %), as well as mining and quarrying (2.1 %).

In March, 6.5 % of the surveyed enterprises in 13 manufacturing sub-sectors (manufacture of fabricated metal products, printing, manufacture of machinery and equipment n.e.c., manufacture of products of wood, and manufacture of food products, etc.) mentioned COVID-19 and emergency situation in the country as the key reason behind the production output decline, according to data compiled by the Central Statistical Bureau of Latvia.

Significant downturn was recorded in manufacture of wearing apparel (of 33.2 % due to both COVID-19 influence and decline in orders), repair and installation of machinery and equipment (12.1 %), and manufacture of computer, electronic and optical products (11.6 %). Output drop was registered also in manufacture of machinery and equipment as well as manufacture of motor vehicles, trailers and semi-trailers (of 10.8 % and 10.6 %, respectively), and manufacture of fabricated metal products, except machinery and equipment (9.6 %).

Production output rise, in turn, was recorded in manufacture of paper and paper products (of 11.3 %), manufacture of electrical equipment (8.7 %), and manufacture of other non-metallic mineral products (6.3 %). Output upturn was also observed in the manufacturing sectors having the largest share in industrial production: manufacture of wood and of products of wood and cork, except furniture (of 1.4 %) and manufacture of food products (1 %).

Compared to February 2020, industrial production output fell by 4.1 % in March 2020, according to seasonally adjusted data at constant prices. In manufacturing it was 4.1 %, in electricity and gas supply by 6.8 %, and in mining and quarrying by 9.2 %.

Compared to March 2019, manufacturing turnover dropped by 1.6 % in March 2020, according to calendar adjusted data at current prices. Export turnover fell by 4 % (of which by 5.9 % in euro area and by 2.4 % in non-euro area), while turnover on the domestic market grew by 3.4 %.

Compared to February 2020, manufacturing turnover fell by 7 % in March 2020. Export turnover reduced by 11.4 %; of which by 12.5 % in euro area and by 10.4 % in non-euro area, while turnover on the domestic market grew by 2 %.

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