Industrial production output fell by 6.4% in May

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Data compiled by the Central Statistical Bureau (CSB) show that, compared to May 2019, in May 2020, industrial production output dropped by 6.4 % (according to calendar adjusted data at constant prices), as reported on July 6. 

The number was affected by the output reduction in manufacturing by 7.4 %. But slight increase was observed in mining and quarrying (of 0.6%) and electricity and gas supply (0.3%).

In May, negative impact of COVID-19 was still felt in manufacturing, production orders and deliveries were diminished or cancelled, and, due to restrictions, volume of freight transportation reduced, which affected availability of raw materials and production processes in enterprises. 95 or 6.7 % of the surveyed enterprises mentioned COVID-19 as the reason behind the production output decline and in another 15 manufacturing enterprises production was terminated in May due to down-time.

Production output decreased in almost all manufacturing sectors, of which in two out of the three sectors having the largest share in industrial production: manufacture of food products and manufacture of fabricated metal products, except machinery and equipment (of 2% and 6.8%, respectively).

Output increase was registered in the sector having the largest share in the industrial production – manufacture of wood and of products of wood and cork, except furniture (2.6%), printing and reproduction of recorded media (8 %), manufacture of chemicals and chemical products (9.3 %) and manufacture of other transport equipment.

Compared to April 2020, in May 2020, industrial production output rose by 4.9% (according to seasonal adjusted data at constant prices), including manufacturing (1.7%), mining and quarrying (2.6%) and electricity and gas supply (23%).

LSM.LV

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