Industrial production in Latvia dropped 3 percent over a year earlier in August 2020, after rising 0.1 percent in the previous month, amid the coronavirus crisis. Manufacturing output declined 1.5 percent, following a 1.8 percent increase in July; while mining production growth slowed (1.8 percent from 11.5 percent). In contrast, electricity and gas supply output fell at a softer pace (-11.7 percent from -14.1 percent). On a monthly basis, industrial production went down 0.4 percent, after a 0.8 percent drop in July.
Industrial Production in Latvia averaged 3.73 percent from 2000 until 2020, 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. This page provides the latest reported value for - Latvia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Latvia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Central Statistical Bureau of Latvia
Industrial Production in Latvia is expected to be -0.50 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 1.80 in 12 months time. In the long-term, the Latvia Industrial Production is projected to trend around 2.00 percent in 2021 and 4.00 percent in 2022, according to our econometric models.