KSH: The food industry, which benefits from the processing industry by 12 percent, fell short of a year earlier

By: Trademagazin Date: 2023. 08. 15. 12:09

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In June, the volume of industrial production was 3.8 percent lower than a year earlier. Adjusted for the working day effect, production decreased by 6.1 percent – the Central Statistics Office (KSH) confirmed with its second estimate on Tuesday.

The agency measured a decrease in the majority of the manufacturing sub-sectors, but at the same time, the volume of production increased by 19.1 percent in the production of the heaviest vehicles and 16.9 percent in the production of electrical equipment.

Based on seasonally and working day-adjusted data, industrial output was 0.9 percent lower than in May 2023.
Compared to last June, the volume of industrial exports was 4.0 percent higher than a year earlier. Exports of vehicle production, representing 33 percent of manufacturing export sales, increased by 23 percent, and electrical equipment production, which accounted for 15 percent, increased by 24 percent.

The domestic sales of industry fell by 20.0 percent, and that of the manufacturing industry by 8.7 percent compared to the same month of the previous year. The production of the manufacturing industry, which represents a decisive weight within the industry (95 percent), decreased by 0.8 percent, that of the minor mining industry by 29 percent, and that of the energy industry (electricity, gas, steam supply, air conditioning) by 33 percent.