Industrial production decreased by 4.2 percent in November

By: Trademagazin Date: 2025. 01. 15. 12:20

In November 2024, the volume of industrial production fell by 4.2 percent, or 2.9 percent adjusted for working days, compared to a year earlier. The volume of production decreased in the vast majority of manufacturing sub-sectors, most significantly in vehicle manufacturing, the Central Statistical Office (KSH) confirmed in its second estimate released on Tuesday.

Based on seasonally and working day-adjusted data, industrial output was 1.6 percent lower than in October 2024.

In one year, compared to November 2023, the production of the manufacturing industry, which represents the decisive (95 percent) weight within industry, decreased by 5.1 percent, while the output of the minor mining industry increased by 52 percent, and that of the energy industry (electricity, gas, steam supply, air conditioning) by 5.1 percent.

The volume of industrial exports was 2.5 percent lower than a year earlier. The export of vehicle manufacturing, which represents 31 percent of manufacturing export sales, decreased by 17.3 percent, while that of computer, electronic and optical products, which has a weight of 13 percent, decreased by 1.3 percent.

Domestic sales of industry were 1.7 percent lower, and that of manufacturing was 6.8 percent lower than in the same month of the previous year.

The volume of vehicle manufacturing, which has the largest weight and represents 25 percent of manufacturing production, decreased by 13.5 percent – the largest among the sub-sectors – compared to the same month of the previous year. The production of road vehicles decreased by 26 percent, and the production of road vehicle components by 3.5 percent.
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