KSH: industrial production decreased by 3.6 percent

By: Trademagazin Date: 2024. 03. 13. 13:08

In January 2024, the volume of industrial production was 3.6 percent lower than a year earlier. Adjusted for the working day effect, production fell by 4.1 percent, the Central Statistics Office (KSH) confirmed on Wednesday based on its second estimate.

Production fell in the vast majority of manufacturing sub-sectors, while the output of three sub-sectors (food, beverage and tobacco production; coke production, petroleum processing; other manufacturing industries) increased.

Based on seasonally and working day-adjusted data, industrial output was 1.1 percent lower than in December 2023.
The volume of industrial exports in January was 6.3 percent lower than a year earlier. The export of vehicle production, which represents 31 percent of manufacturing export sales, fell by 9.3 percent, and the production of electrical equipment, which accounted for 14 percent, fell by 10.8 percent.

The domestic sales of industry decreased by 1.0 percent, and that of the manufacturing industry by 0.7 percent compared to the same month of the previous year.
The production of the processing industry, which represents a decisive weight within the industry (93 percent), decreased by 4.4 percent, while at the same time, the output of the minor mining industry increased by 25 percent, and that of the energy industry (electricity, gas, steam supply, air conditioning) by 2.4 percent.