FX.co ★ Latvia Industrial Output Hits Fastest Growth in Nearly Four Years

Industrial production in Latvia experienced a significant increase of 7.2% in June 2025 compared to the same month the previous year. This marks the most rapid growth observed since July 2021 and sees a notable rise from the 4.0% growth in May. The surge is largely attributable to an upturn in manufacturing output, which climbed by 7.0% compared to 5.4% in May. Key contributors to this growth include a substantial leap in the production of rubber and plastic products, which soared by 31.3% from a previous 4.0%, and a robust rise in the manufacture of non-metallic mineral products, which increased by 18.3% from 16.9%. Additionally, the manufacture of motor vehicles, trailers, and semi-trailers saw a marked increase of 14.8%, up from 9.9%, while machinery and work machinery production grew by 12.9% compared to 12.0% in the previous month. The electricity and gas supply sector also experienced a significant upswing, with production surging by 19.2% compared to a previous 2.4%. In contrast, the mining and quarrying sector continued to decline, with output dropping by 21.1%, marking the fourth consecutive month of decline. On a monthly comparison, industrial production saw a modest increase of 0.5% in June, following a 1.4% rise in May.