Industrial production in Latvia contracted by 2.9 percent year-on-year in July of 2022, the first decline since February and the sharpest since August of 2020, compared to the 0.7 percent advance in the previous month. Output significantly fell for electricity and gas supply (-24.4 percent vs -15.8 percent in June) amid lower supplies of Russian energy throughout the Baltic states. Production also fell for mining and quarrying (-3.1 percent vs -7.8 percent), while growth eased for manufacturing (0.6 percent vs 3.1 percent). On a monthly basis, industrial production fell 1.2 percent, easing from the 2.1 percent decline in the prior month. source: Central Statistical Bureau of Latvia
Industrial Production in Latvia averaged 3.79 percent from 2000 until 2022, reaching an all time high of 23.20 percent in October of 2010 and a record low of -26 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. Latvia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Industrial Production in Latvia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia Industrial Production is projected to trend around 2.00 percent in 2023 and 4.00 percent in 2024, according to our econometric models.