Latest reading: Industrial production increased 8.2% on a year-on-year basis in November, following a 7.1% increase in the previous month....
Industrial Production in Latvia
The Latvian economy recorded an average industrial production growth rate of 1.6% in the decade to 2024. In 2024, industrial production growth was -2.2%. For more industry information, visit our dedicated page.
Latvia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Latvia from 2014 to 2025.
Source: Macrobond.
Latvia Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -1.7 | 6.4 | 0.8 | -5.9 | -2.4 |
Industrial production speeds up in October
Latest reading: Industrial production rose 8.7% in annual terms in October, following a 6.2% increase in the prior month. Relative to the previous month's data, readings in October improved for manufacturing (+9.6% in annual terms vs +8.5% in September), mining and quarrying (-16.1% vs -28.2% in September) and electricity and gas supply (+10.1% vs -4.7% in September). On a seasonally adjusted month-on-month basis, industrial production increased 1.3% in October, following a 1.7% increase in the prior month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian industry projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Latvian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Latvian industry projections.
Want to get access to the full dataset of Latvian industry forecasts? Send an email to info@focus-economics.com.
Latest Global Industrial production News
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Kazakhstan: Industrial production speeds up in November -
Poland: Industrial production shrinks in November Latest reading: Industrial production declined 1.1% in annual terms in November, following 3.3% growth in the previous month. November’s reading... -
Belarus: Industrial production shrinks more quickly in November Latest reading: Industrial production was down 1.7% on a year-on-year basis in November, following a 1.3% drop in the prior... -
Qatar: Industrial production gains steam in October Latest reading: Industrial production increased 6.5% in annual terms in October, following a 0.4% increase in the previous month. October’s... -
Romania: Industrial production loses momentum in October Latest reading: Industrial production rose 0.4% on a working day and seasonally adjusted month-on-month basis in October, following 1.2% growth... -
Belgium: Industrial production falls at a faster pace in October Latest reading: Industrial production fell 3.4% on a seasonally adjusted month-on-month basis in October, following a 0.4% decrease in the... -
Japan: Industrial production slows in October Latest reading: Industrial production increased 1.5% in seasonally adjusted month-on-month terms in October, following 2.6% growth in the previous month....