KSH: the production of food, beverages and tobacco products expanded compared to a year earlier

By: Trademagazin Date: 2024. 06. 07. 12:06

In April 2024, the volume of industrial production exceeded a year earlier by 6.4 percent, while adjusted for the working day effect it was 2.4 percent lower than a year earlier, the Central Statistics Office (KSH) reported on Friday based on its first estimate.

The significant difference compared to the raw data is caused by the fact that there were three more working days this month than in April last year.

Based on seasonally and working day-adjusted data, industrial output decreased by 0.7 percent as of March 2024.
The KSH added that the majority of manufacturing sub-sectors contributed to the increase in production. Among the most weighty sub-sectors, vehicle manufacturing, computer, electronic and optical product manufacturing, as well as food, beverage and tobacco manufacturing expanded compared to the previous year, while electrical equipment manufacturing decreased.

Industrial production in the first four months of the year was 1.7 percent lower than in the same period of 2023.
The KSH will announce the detailed data of industrial production for April on June 13 based on its second estimate.