Industrial production in Latvia decreased 3.6 percent year-on-year in March of 2020, down from an upwardly revised 0.9 percent rise in the previous month. Output fell for manufacturing (-2.1 percent vs 16.5 percent in February) and electricity and gas supply (-4.8 percent vs 7 percent). Also, mining & quarrying production dropped further (-3.6 percent vs -0.8 percent). On a seasonally adjusted monthly basis, industrial production slid 4.1 percent, the most in two years and compared to a 2.9 percent gain in February. Considering the first quarter of 2020, industrial activity declined 2.3 percent over the same period of 2019.
Industrial Production in Latvia averaged 3.89 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 June of 2020.
Industrial Production in Latvia is expected to be -25.00 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 3.90 in 12 months time. In the long-term, the Latvia Industrial Production is projected to trend around 9.00 percent in 2021 and 4.00 percent in 2022, according to our econometric models.