FX.co ★ Latvia Industrial Output Growth Strongest Since 2021

In July 2025, Latvia experienced a notable surge in industrial production, with a year-on-year increase of 9.8%, up from 7.2% in June. This growth represents the most significant expansion since May 2021. Notably, manufacturing output grew at a markedly faster rate, jumping 10.8% compared to 7% in June. Meanwhile, the decline in mining and quarrying activities slowed, with a decrease of 18.4% compared to the previous month's 21.1% drop. Conversely, growth in the electricity and gas supply sector decelerated, registering a 12.5% rise compared to June's 19.2%. On a month-to-month basis, industrial production increased by 1.5% in July, marking its highest rise since January, following a 0.5% gain in the previous month.