Latvia's manufacturing turnover in October this year according to seasonally adjusted data increased by 0.3 percent compared to the previous month, according to Latvia's Central Statistical Bureau (CSB). Accordingly, the second most notable growth rate in turnover in Latvian manufacture was recorded in manufacture of basic metals, with a month on month increase of 18.6 percent.
In October this year, manufacturing turnover at current prices (according to calendar adjusted data) increased by 10.4 percent compared to October 2010. The report notes that the rise in manufacturing turnover was mainly due to the growth in divisions of manufacture of fabricated metal products and manufacture of machinery and equipment, which increased respectively by 49.2 percent and 32.1 percent year on year.
On the other hand, in October Latvia's iron and steel exports were valued at LVL 41.7 million ($78.9 million), with an increase of 20.4 percent compared to the same month of 2010, while the country's iron and steel product export value was recorded at LVL 18.2 million ($34.42 million).
The data also show that in October Latvia's import value for iron and steel decreased by 20.2 percent compared to the same month last year to LVL 29.7 million ($56.12 million). Latvia's imports of articles of iron or steel in the month in question were valued at LVL 32.8 million ($61.2 million), up by 78.5 percent compared to September this year.