Analytics, Industry, Latvia, Markets and Companies

It was affected by export drop of 2.7% (of which in Eurozone – by 0.2%, and in Non-eurozone – by 5.6%). In turn, in domestic market turnover increased by 0.7%.

Compared to the previous month, turnover decline was observed in repair and installation of machinery and equipment (repair and maintenance of ships and boats, repair of fabricated metal products, machinery and equipment, installation of industrial machinery and equipment) – of 25.2% (in domestic market – of 23.4% and in export – of 31.6%), in manufacture of textiles – of 8.4% (in domestic market – of 7.6% and in export – of 8.7%), and in manufacture of beverages – of 5.5% (of which drop of 27% in export, while domestic market witnessed growth of 1.4%).

Compared to October turnover growth in November was observed in manufacture of chemicals and chemical products – of 7.2% (in domestic market – of 8.1%, and in export – of 6.7%), in manufacture of rubber and plastic products – of 4.5% (in domestic market growth of 8.8%, while export witnessed drop of 5.2%), in manufacture of fabricated metal products, except machinery and equipment – of 4.4% (of which in domestic market increase of 9.2%, while in export there was decrease of 2.9%).

Changes in turnover of selected manufacturing sectors, November 2014 as % of November 2013 (calendar adjusted data)

Data source: Central Statistical Bureau of Latvia

As compared to the corresponding period of the previous year manufacturing turnover in industry in November 2014 (according to calendar adjusted data) at current prices decreased by 7%. In domestic market turnover decreased by 9.3%, in export – by 4% (of which in Eurozone – by 7.7%, and in Non-eurozone – by 2.1%).

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in the CSB databases.

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¹ Industrial turnover index characterises monthly changes in demand for industrial goods and services on the market. It includes turnover of mining and quarrying, as well as of industrial enterprises at current prices. Industrial turnover breakdown by domestic market and export is used as weights. Unlike industrial goods, turnover index is not defined, i.e, price changes are not taken into account. Turnover only includes own-produced goods sold and industrial services provided.