Letonia Actividad económica April 2023

Letonia: Industrial output deteriorates in April

Industrial output declined 7.0% in year-on-year terms in April, which followed March’s 6.3% decrease. April’s reading was partly driven by a deterioration in manufacturing output, as it recorded the weakest reading since April 2020. In addition, mining and quarrying production continued to fall at a sharp pace.

On a monthly basis, industrial output declined 0.6% in seasonally adjusted terms in April, a smaller decrease than March’s 1.0% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 0.8% in April, contrasting March’s plus 0.1%.