Latest reading: Industrial production rose 1.8% year on year in May, improving from April’s 1.5% expansion but continuing to undershoot...
Industrial Production in Latvia
The Latvian economy recorded an average industrial production growth rate of -0.9% in the decade to 2024. In 2024, industrial production growth was -2.2%. For more industry information, visit our dedicated page.
Latvia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Latvia from 2014 to 2024.
Source: Macrobond.
Latvia Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -1.7 | 6.4 | 0.8 | -4.8 | -2.2 |
Industrial output rebounds in April
Latest reading: Industrial output rose 1.9% in year-on-year terms in April, which contrasted March's 2.5% decrease. Looking at the details of the release, manufacturing production rebounded in April, while the decline in mining and quarrying output worsened. On a monthly basis, factory output increased 0.7% in seasonally adjusted terms in April, contrasting March’s 2.1% fall. Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 6.0% in April, up from March's minus 6.1%.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian industry projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Latvian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Latvian industry projections.
Want to get access to the full dataset of Latvian industry forecasts? Send an email to [email protected].
Latest Global Industrial production News
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Russia: Industrial output growth rises but remains mild in May -
Taiwan: Industrial output growth remains buoyant in May Latest reading: Industrial production grew 22.6% year on year in May (April: +23.7% yoy), well above market expectations, driven chiefly... -
Lithuania: Industrial output growth eases in May Latest reading: Industrial output increased 1.9% compared to the same month of the previous year in May, which followed April’s... -
Belarus: Industrial output growth falls to an over two-year low in May Latest reading: Industrial production growth eased to 1.1% year on year in May (April: +1.4% yoy), marking the weakest reading... -
Kazakhstan: Industrial output loses momentum in May Latest reading: Industrial output grew 5.8% compared to the same month a year earlier in May, which was a deterioration... -
Euro Area: Industrial output falls at sharpest pace since July 2023 in April Latest reading: Industrial output declined 2.4% in month-on-month seasonally adjusted terms in April, which contrasted March’s 2.4% increase. April’s figure... -
Uruguay: Manufacturing activity growth eases in April Latest reading: Manufacturing output grew 7.2% in year-on-year terms in April, which followed March’s 16.2% increase. April’s reading was largely...