FM: Low demand still prevents the manufacturing industry from gaining momentum – Economy, finance

The manufacturing industry shows an increase in February and March compared to the previous months, which indicates a positive trend, but in the first quarter of this year, in comparable prices, the volumes decreased by 3.9% compared to the first quarter of last year, according to the latest data of the Central Statistics Office. The decrease in the first quarter was determined by contractions in the production of non-metallic minerals, metal products, computers, electronic and optical equipment and furniture, while food production, printing and chemical production made a positive contribution. In surveys in the second quarter of this year, for the seventh quarter in a row, manufacturers point to a lack of demand as the main factor limiting production volumes. A similar situation in terms of the limiting factors of the manufacturing sector is also in Lithuania and Estonia.

In the industry as a whole, in the first quarter of this year, volumes decreased by 0.1% in annual terms. The situation in total industry was improved by increases in electricity and gas supply by 9.3% and in mining by 18.6%.

See the full message on the website of the Ministry of Finance: https://www.fm.gov.lv/lv/jaunums/fm-zemais-pieprasijums-joprojam-liedz-apstrades-rupniecibai-uznemt-appräzienus

Ministry of Finance