7 May 2013 16:30

Latvian industrial output edges down 1% in Q1

RIGA. May 7 (Interfax) - Industrial output in Latvia edged down 1% in constant prices in Q1 2013 in comparison with Q1 2012, the Central Statistical Bureau told BNS.

In the manufacturing industry, industrial production was down 1.7%, and in the electricity and gas supply industry, it declined 0.8%. Meanwhile, the extractive and quarrying industry saw 3.4% growth.

The overall decline in industrial output was caused by significant drops in Latvia's largest industries: metallurgy (down 36.1%), metalworking (down 2.6%) and woodworking (down 3.4%).

In March alone, industrial output in real prices totaled 431 million lati, or 613.3 million euro.

The lats is pegged to the euro at 0.7028 lati/EUR1.