According to the Central Statistical Bureau, according to unadjusted data, manufacturing output in September this year was 2.2% higher than a year ago. According to calendar adjusted data, output decreased slightly – by 0.6%.
Gergelevich acknowledged that after the Covid-19 crisis, more and more positive trends have been observed in recent months. According to him, in September, on an annual basis, the production volumes of the largest sub-sector of the manufacturing industry – wood processing – increased significantly by 6.9%. A significant increase was also observed in the second largest sub-sector – food industry – by 3.5%, as well as in manufacture of fabricated metal products – by 6.9% and in manufacture of machinery and equipment – by 14.4%.
In turn, negative trends in manufacturing were observed in September on an annual basis, in the manufacture of electrical equipment – by 3.7%, beverages – by 8.9%, textiles – by 11.8% and metals – by 19.1%.
According to the MoE expert, in the three quarters of the year, manufacturing volumes were 2.8% lower than a year ago.
“In September, the turnover of manufacturing also increased by 4.1% at current prices. There was a slightly larger increase in the volume of products sold on the domestic market, but a slightly more moderate increase – in the volume of products sold in exports, by 4.5% and 3.9%, respectively,” representative.
Gergelevich acknowledged that the negative economic impact of the coronavirus is still being felt in the development of the manufacturing industry. “As in the overall economy, the prospects for the manufacturing industry are unclear. The epidemic has a significant impact on the global and Latvian economies, but the magnitude of its impact is still difficult to determine,” the expert added.
The agency LETA has already reported that in Latvia, in the first nine months of this year, according to calendar-adjusted data, industrial output at constant prices has decreased by 3.1% compared to the corresponding period of 2019, including a decrease of 2.9% in manufacturing.
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