Industrial production in Latvia slumped 3.2 percent year-on-year in December 2019, down from a 0.1 percent decrease in the previous month. It was the second straight monthly fall and the sharpest since January 2014. Output fell further for manufacturing (-1.9 percent vs -0.6 percent in November) and dropped for electricity and gas supply (-5.7 percent vs 3.9 percent). Meantime, mining & quarrying product went down at a softer pace (-5.3 percent vs -17.4 percent). On a monthly basis, industrial production went down 0.3 percent, after a 1.3 percent decline in November.
Industrial Production in Latvia averaged 3.97 percent from 2000 until 2019, reaching an all time high of 23.20 percent in October of 2010 and a record low of -25.90 percent in March of 2009. This page provides the latest reported value for - Latvia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Central Statistical Bureau of Latvia
Industrial Production in Latvia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Latvia to stand at 3.90 in 12 months time. In the long-term, the Latvia Industrial Production is projected to trend around 4.00 percent in 2021, according to our econometric models.