KSH: industrial production increased by 1.8 percent in February, the largest increase in the production of food, beverages and tobacco products

By: Trademagazin Date: 2024. 04. 12. 12:32

In February 2024, the volume of industrial production exceeded the previous year by 1.8 percent. Adjusted for the working day effect, production rose by 1.4 percent, the Central Statistics Office (KSH) confirmed in its second estimate released on Friday.

Production increased in the majority of manufacturing industries, with the largest increase in the production of food, beverages and tobacco products.
Based on seasonally and working day-adjusted data, industrial output was 3.5 percent higher than in January 2024.

The volume of industrial exports was 1.4 percent higher than a year earlier. Exports of vehicle production, representing 34 percent of manufacturing export sales, increased by 2.3 percent, while electrical equipment production, which accounted for 14 percent, fell by 8.8 percent.

The domestic sales of industry decreased by 2.6 percent, while that of the manufacturing industry increased by 0.9 percent compared to the same month of the previous year.

The production of the manufacturing industry, which represents a decisive weight within the industry (97 percent), increased by 1.8 percent, the output of the minor mining industry increased by 15.3 percent, and the energy industry (electricity, gas, steam supply, air conditioning) decreased by 7.6 percent.