Latvia - Industrial Production





Latvia: Industrial Production

Mnemonic IP.ILVA
Unit Vol. Index 2021=100, SA
Adjustments Seasonally Adjusted
Monthly 2.7 %
Data Jan 2024 93.12
Dec 2023 95.7

Series Information

Source Central Statistical Bureau of Latvia
Release Industrial Production
Frequency Monthly
Start Date 7/31/2000
End Date 1/31/2024

Latvia: Business

Reference Last Previous Units Frequency
Business Confidence Feb 2024 -6.3 -8.2 SA Monthly
Industrial Production Jan 2024 93.12 95.7 Vol. Index 2021=100, SA Monthly
Capacity Utilization 2023 Q4 72.3 72.7 %, SA Quarterly
Change in Inventories 2023 Q4 -567,522 -146,407 Ths. EUR, NSA Quarterly

Release Information

For Latvia, the volume index of industrial production describes changes in the volume of industrial production output in the reference period compared with the base period. Monthly from 2000.

By definition, an industrial producer's price index (PPI) and production index (IPI) are based on the same turnover data, but the latter is deflated, i.e., they are value and volume indexes.

Active:

  • Classification:
    • Taxonomy: Adaptation of NACE Rev. 2
    • Scope: divisions B to D
    • Detail: Sections, divisions, MIG aggregates
  • Measurement: Fixed-base volume index relative to 2021 (Vol. Index 2021=100)
  • Adjustments:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 2000m1
    • 2000m7
  • Geo coverage: Country

Predecessors:

  • 2015=100 - 2000m1 to 2023m12 ("_15")
  • 2010=100 - 2000m1 to 2017m12 ("_10")
  • 2005=100 - 2000m1 to 2012m12 ("05")
  • 2000=100 - 2000m1 to 2008m12 ("00")

Source tables:

  • RU01
  • RUI020m

Global concept aliases:

  • IP.ILVA

The source writes:

Source of data

Monthly survey “1-r “Survey of industrial activity”” and ”12-r "Survey on industrial activity and volume of new orders in industry."

Coverage

Data were collected from economically active enterprises where 20 and more persons were employed in industrial production or industrial turnover in previous year comprised 300 thsd lats and more.

The calculation of volume index of industrial production includes the following sections: B – mining and quarrying, C – manufacturing, D - Electricity, gas, steam, and air conditioning supply (excluding group 35.3 - "Steam and air conditioning supply").

Unit surveyed

Unit of kind of activity – kind of economic activity of enterprise on which information is compiled.

Sample size

The number of enterprises surveyed monthly in 2010 – 1429. In 2008 the rate of enterprises in the volume of industrial production exceeded 80%.

Description of data

Each month starting from the 15th date the information on industrial production output during the reference period at current prices is collected within ten days according to classes of Statistical Classification of Economic Activities, Rev. 2 (NACE Rev. 2).

Methods of calculation

Production output indicators are recalculated into constant prices using the producer price indices and by applying a Laspeyres-type formula the volume index of industrial output is calculated. Value added of enterprises of 2021 in breakdown by sections, chapters, groups and classes of NACE Rev. 2 is used as weights. Average volume of output produced in one month of 2021 is used as basis.

Classification

Statistical Classification of Economic Activities in the European Community, Rev. 2 (NACE Rev. 2)

RAMON Eurostat's Metadata Server

Specific notes

In some cases, due to specifics of electronic data processing technologies and rounding adjustments, slight discrepancies may occur between totals and sums of components.

Data adjustment is carried out if the respondent specifies data on some of the previous periods. Usually publishing data of last month of the quarter data of previous two months are updated.

Further reading

At the source:

At IMF (SDDS Plus):

  • Sep 2005 - Initial version.
  • Apr 2009 - Reclassified to NACE Rev. 2, rebased to 2005.
  • Oct 2011 - Addendum of SA variant.
  • Apr 2018 - Rebased to 2015.
  • 12 Mar 2024, Phillip Thorne - Rebased to 2021: Properties, Further reading.