Compared to July 2019, manufacturing production output rose by 1.8% in July 2020. Production output increase was also in mining and quarrying (of 11.5%), but in electricity and gas supply there was a drop of 14.1%). Total industrial production output increased by 0.1%.
Compared to the corresponding month of the previous year, production output rise was in the sector having the largest share in industrial production – manufacture of wood and of products of wood and cork (of 12.5%). In July, production output continued to increase in manufacture of chemicals and chemical products – by 13.7% and manufacture of computer, electronic and optical products. As negative impact of COVID-19 reduced, production output growth was registered in manufacture of machinery and equipment (of 11.9%), manufacture of furniture (10.5%) and manufacture of wearing apparel (9.1%), according to data from the Central Statistical Bureau of Latvia.
However, production output fall remained in repair and installation of machinery and equipment (of 26.5%) and manufacture of motor vehicles, trailers and semi-trailers (manufacture of motor vehicle parts and accessories, which includes various components of motor vehicles) – 16.8%. Production output also declined in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of metal products and two out of the three sectors having the largest share in industrial production: manufacture of food products and manufacture of fabricated metal products, except machinery and equipment (of 0.2% and 15.5%, respectively).
Compared to June, in July, manufacturing production output rose by 4.1% (according to seasonal adjusted data at constant prices). Production output increase was also in mining and quarrying (of 0.3%), but in electricity and gas supply there was a drop (27.1%). Total industrial production output decreased by 0.8%.
Compared to July 2019, manufacturing turnover, according to calendar adjusted data at current prices, rose by 5.5%, export turnover – by 9.8% (of which by 14.6% in euro area and by 5.6% in non-Eurozone), but turnover on the domestic market – fell by 1.5% in July.
Compared to June, manufacturing turnover, according to seasonally adjusted data, rose by 4.2% in July. Turnover on the domestic market increased by 0.4% and export turnover – by 6.2% (of which by 12.1% in euro area and by 1.6% in non-euro area). (BNN/Business World Magazine)