Compared to November 2018, industrial production output fell by 0.2% in November 2019. That was affected by output drop in manufacturing by 0.8% and in mining and quarrying by 16.9%, while in electricity and gas supply there was an increase of 3.9%.
Output drop was registered in more than a half of manufacturing sectors, with two out of three manufacturing sectors having the largest share in industrial production: manufacture of wood and of products of wood and cork (of 1.8%, share in manufacturing – 25.3%) and manufacture of food products (of 3.2%, share in manufacturing – 13.8%), according to data from the Central Statistical Bureau of Latvia.
The largest output drop was in medium-high technology manufacturing sectors: manufacture of machinery and equipment (of 18.5%), manufacture of motor vehicles, trailers and semi-trailers (of 15.7 %) and manufacture of electrical equipment (of 1.3%).
Growth, in turn, was recorded in manufacture of fabricated metal products, except machinery and equipment (of 7.1%), manufacture of computer, electronic and optical products (1.9%), manufacture of furniture (9.1%) and manufacture of basic pharmaceutical products and pharmaceutical preparations.
Compared to October 2019 industrial production output decreased by 1.2% in November 2019. Output drop in manufacturing constituted 0.8% and in electricity and gas supply 4.4%, while in mining and quarrying there was an increase of 4.8%.
Compared to November 2018 manufacturing turnover decreased by 1.3% in November 2019. Turnover decrease was recorded in export – of 3.2% (reduction in Eurozone – of 2.7% and in non-Eurozone – of 3.6%), while in domestic market went up by 2.4%
Compared to October 2019 manufacturing turnover rose by 0.7% in November 2019. Turnover increase was recorded in export – of 2.9% (of which in Eurozone – of 5.9% and in non-Eurozone – of 0.4%), while in domestic market turnover fell by 3.2%. (BNN/Business World Magazine)