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Latvian manufacturing industry sees turnover drop 1.1 pct in 2014

Xinhua, February 10, 2015 Adjust font size:

The Latvian manufacturing industry's calendar-adjusted turnover declined 1.1 percent year-on-year in 2014, the national statistics office reported Monday.

The annual turnover decrease included a 1.3 percent drop in export markets and a 0.9 percent reduction in the domestic market, the statistics office said.

Last year, the Latvian manufacturing industry's turnover contracted 4.4 percent in the Eurozone, but edged up 0.5 prcent outside the Eurozone.

In both the domestic and export markets, turnover shrank 58.1 percent in metal production, 26.7 percent in installation and repairs of equipment, 21.8 percent in manufacture of electric equipment and 15.3 percent in manufacture of clothing.

Among Latvia's key manufacturing segments, the steepest turnover growth, by 10.8 percent, was recorded in wood processing. Turnover in food production rose 2.3 percent, and turnover in manufacture of finished metal products grew 6.8 percent. Enditem