In March, Latvia industrial production fell by 3.6 %

Data compiled by the Central Statistical Bureau of Latvia show that, compared to March 2019, in March 2020 industrial production output dropped by 3.6 %. 

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.

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 %).

Manufacture of paper and paper products rise

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, in March 2020 industrial production output fell by 4.1 %. Of which in manufacturing by 4.1 %, in electricity and gas supply by 6.8 %, and in mining and quarrying by 9.2 %.

- advertisment -