The volume of industrial production in Latvia in August compared to August 2024 increased by 2.5%, demonstrating a more rapid growth than the EU (European Union) and eurozone averages, according to data published on Wednesday by the EU statistical office "Eurostat" for 26 countries in the bloc.
In August, annual growth was recorded in 15 EU countries for which data is available, with the most rapid growth occurring in Ireland (+28.6%), followed by Luxembourg (+9.5%) and Sweden (+8.3%). In Estonia, industrial production increased by 1.1%, while in Lithuania it grew by 0.1%.
Among the 11 countries where industrial production volume decreased over the year, the most significant decline during this period was observed in Bulgaria (-8.6%), followed by Slovakia (-6.3%) and Denmark (-5%).
In both the EU and the eurozone, industrial production in August compared to the same month last year increased by 1.1%, while compared to the previous month, industrial production in the EU decreased by 1%, and in the eurozone by 1.2%.
Compared to July, industrial production decreased in 14 countries, with the most significant decline in Germany (-5.2%), followed by Greece (-4.5%) and Austria (-3.1%). The highest growth was noted in Ireland (+9.8%), followed by Luxembourg (+4.8%) and Sweden (+3.6%), while in Cyprus and Slovakia, industrial production remained at the same level. In Latvia, as in Hungary, industrial production decreased by 2.3%, in Lithuania it increased by 2.1%, and in Estonia, as well as in Malta, a growth of 1.5% was registered.
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