In 2021, the production value of the professional, scientific, and technical industry in Latvia increased by 309 million euros (+18.06 percent) since 2020. Therefore, the production value in Latvia reached a peak in 2021 with 2 billion euros. The production value is defined as turnover, plus or minus the changes in stocks of finished products, work in progress and goods and services purchased for resale, minus the purchases of goods and services for resale, plus capitalized production, plus other operating income (excluding subsidies). Income and expenditure classified as financial or extra-ordinary in company accounts is excluded from production value.
The source adds the following information: Personnel costs are defined as the total remuneration, in cash or in kind, payable by an employer to an employee (regular and temporary employees as well as home workers) in return for work done by the latter during the reference period. Personnel costs also include taxes and employees' social security contributions retained by the unit as well as the employer's compulsory and voluntary social contributions. Personnel costs are made up of wages and salaries and employers' social security costs. Data coverage corresponds to Section M of CE Rev2.
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Eurostat. (March 22, 2024). Annual production value of the professional, scientific, and technical activities industry in Latvia from 2012 to 2021 (in million euros) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/486682/production-value-professional-scientific-technical-sector-latvia/
Eurostat. "Annual production value of the professional, scientific, and technical activities industry in Latvia from 2012 to 2021 (in million euros)." Chart. March 22, 2024. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/486682/production-value-professional-scientific-technical-sector-latvia/
Eurostat. (2024). Annual production value of the professional, scientific, and technical activities industry in Latvia from 2012 to 2021 (in million euros). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/486682/production-value-professional-scientific-technical-sector-latvia/
Eurostat. "Annual Production Value of The Professional, Scientific, and Technical Activities Industry in Latvia from 2012 to 2021 (in Million Euros)." Statista, Statista Inc., 22 Mar 2024, https://www.statista.com/statistics/486682/production-value-professional-scientific-technical-sector-latvia/
Eurostat, Annual production value of the professional, scientific, and technical activities industry in Latvia from 2012 to 2021 (in million euros) Statista, https://www.statista.com/statistics/486682/production-value-professional-scientific-technical-sector-latvia/ (last visited August 25, 2024)
Annual production value of the professional, scientific, and technical activities industry in Latvia from 2012 to 2021 (in million euros) [Graph], Eurostat, March 22, 2024. [Online]. Available: https://www.statista.com/statistics/486682/production-value-professional-scientific-technical-sector-latvia/