Analytics, Industry, Latvia, Markets and Companies

In exports turnover increased by 4.4%, of which in Eurozone – by 26.1% (as of January 1 this year Lithuania joined Eurozone), but in Non-eurozone there was a reduction of 4.8%.

Turnover decrease in January, compared to the previous month, was observed in manufacture of chemical and chemical products – by 18.8%, of which in exports – by 30.8%, but in domestic market there was an increase of 5.3%, in manufacture of electrical equipment – of 13% (in domestic market – of 21%, in exports – of 8.9%). Reduction was recorded in the manufacturing sectors having the largest share: in wood processing – of 0.2% and in manufacture of food products – of 0.2%. Reason for the drop in both sectors was turnover reduction in domestic market.

But turnover increase was observed in manufacture of furniture – of 27.5%, in manufacture of wearing apparel – of 8.2% and in manufacture of fabricated metal products, except machinery and equipment – of 6.2%.  Growth was observed both in domestic market, and in exports.

Changes in turnover of selected manufacturing sectors, January 2015, compared to January 2014 (%, calendar adjusted data)

Data source: Central Statistical Bureau of Latvia

Compared to January 2014 industrial turnover in manufacturing (according to calendar adjusted data) in January 2015 reduced by 1.7%, of which in domestic market – by 6%, but in export there was a growth of 3.5%. Exports growth was promoted by increase of manufacturing turnover in Eurozone – by 21.9%, but in Non-eurozone there was a decrease of 7.1%.

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