Industrial production in Latvia decreased 1.3 percent year-on-year in July of 2019, after a downwardly revised 4.3 percent rise in the previous month. Output fell for both electricity and gas supply (-6.2 percent from 23.5 percent in June) and mining & quarrying (-14.9 percent from -12.6 percent). On the other hand, manufacturing production advanced further (1.3 percent from 0.7 percent). On a seasonally adjusted monthly basis, industrial output dropped 2.1 percent, down from a downwardly revised 1.5 percent gain in June. Industrial Production in Latvia averaged 4 percent from 2001 until 2019, reaching an all time high of 23.20 percent in October of 2010 and a record low of -25.90 percent in March of 2009.
Industrial Production in Latvia is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Latvia to stand at 2.50 in 12 months time. In the long-term, the Latvia Industrial Production is projected to trend around 3.90 percent in 2020, according to our econometric models.