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Tuesday, August 7, 2007

Latvia Industrial Output June 2007

According to Latvijas Statistika - and as can be seen in the graph below -

Compared to June of the previous year, industrial production output in june 2007 rose 1.2% to seasonally adjusted data (seasonal and working day influence is taken into account) of the Central Statistical Bureau. There was an increase of 6.5% in electricity, gas and water, but a decrease of 0.2% in manufacturing and 5.2% in mining and quarrying.

So in fact manufacturing actually decreased y-o-y in June 2007. This is not a good sign, when most manufacturing industry in the EU27 is accelerating rapidly.

Meanwhile in an earlier press release we are informed that:

The volume of cargo reloaded at the ports of Latvia in January - June 2007 was 31.4 mln tons, an increase of 4.6 % compared to the 1st half of 2006, according to data of Central Statistical Bureau. 27.6 mln tons of cargos were loaded at ports, an increase of 0.6 % compared to January – June 2006.......

The volume of cargo unloaded at ports in the 1st half of 2007 increased noticeably. In January – June 2007 3.8 mln tons of cargo were loaded and unloaded at ports, what is 1.5 times more than in 6 months of 2006. Cargo in containers accounted for the bulk of cargo unloaded: 0.7 mln tons. The volume of this cargo unloaded has increased by 28.1 %, in comparison with January-June 2006.

That is the volume of loaded outgoing product rose 0.6% y-o-y (reloaded 4.5%) while unloaded cargo has increased "noticeably" with container contents rising 28.1%. Significant increases we also noted in the volume of construction materials unloaded which seems to have doubled.

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