Latvia Industrial Output Growth Slows in February

Latvia’s industrial production increased by 4% year-on-year in February 2026, easing from 13.2% in the previous month, which was the strongest growth since April 2021. Activity declined in manufacturing (-2.2% vs 1.3% in January), weighed down by slower pace of growth in food products (3.3% vs 7.8%) and persistent declines in beverages (-40.1% vs -12.7%), wearing apparel (-15.9% vs -15.2%), leather and related products (-16.9% vs -15.2%), wood products (-5.6% vs -3.8%), and repair and installation of machinery and equipment (-53.2% vs -43.3%). At the same time, output continued to fall in mining and quarrying (-37.2% vs -30.8%), while growth in electricity and gas supply moderated sharply (24.6% vs 57.1%). On a monthly basis, industrial production fell 1.3% in February 2026, reversing from 3.1% in January and marking the lowest level since March 2025.

Latvia’s industrial production advanced 13.2% year-on-year in January 2026, following a 1% growth in the previous month. This marked the highest reading since April 2021 as activity increased in the manufacturing sector (1.3% vs 0.2% in December 2025), with notable gains in the processing and preserving of fruits and vegetables (12.6% vs 1.6%), dairy products (17.8% vs 4.4%), rubber and plastic products (7.5% vs -5.1%), basic metals (29.2% vs 1%), and electrical equipment (13.2% vs 7.9%). At the same time, output rose sharply in electricity and gas supply (57.1% vs 8.8%). In contrast, activity declined at a faster pace in mining and quarrying (-30.8% vs -18.7%). On a seasonally adjusted monthly basis, industrial production grew by 3.2% in January, rebounding from a downwardly revised 0.8% drop in the preceding period.

Latvia’s industrial production rose by 1% year-on-year in December 2025, easing sharply from an upwardly revised 7.2% in the previous month. Output growth slowed in manufacturing (0.3% vs 9.1% in November), particularly in textiles (-12.3% vs -8.5%), paper and paper products (-5.5% vs -1.2%), and rubber and plastic products (-5.4% vs -4.9%). Other sub-sectors posted softer gains, including the processing and preserving of meat (10.8% vs 12.6%), fruit and vegetables (1.7% vs 20.6%), chemicals (3.5% vs 4.8%), and other non-metallic mineral products (11.9% vs 18.1%). On the other hand, activity increased in electricity and gas supply (8.8% vs 3.6%), while output dropped at a slower pace for mining and quarrying (-18.9% vs -25.2%). On a seasonally adjusted basis, industrial production fell by 1.4% in December, following an upwardly revised 0.4% decline in the preceding period.