KSH: industrial production fell by 5.2 percent in May

By: Trademagazin Date: 2024. 07. 12. 12:09

In May, the volume of industrial production fell by 5.2 percent, or 4.9 percent, adjusted for the working day effect, from a year earlier, the Central Statistics Office (KSH) confirmed in its second estimate released on Friday.

Production decreased in the majority of manufacturing sub-sectors, with the largest decrease in electrical equipment manufacturing. Based on seasonally and working day-adjusted data, industrial output in May was 1.1 percent lower than in April.

The volume of industrial exports in May was 10.5 percent lower than a year earlier. The export of vehicle production, which represents 32 percent of manufacturing export sales, fell by 16.6 percent, and the production of electrical equipment, which accounted for 12 percent, fell by 33 percent.

The domestic sales of industry decreased by 0.5 percent, and that of the manufacturing industry by 1.5 percent compared to the same month of the previous year. The production of the manufacturing industry, which represents a decisive weight within the industry (96 percent), decreased by 6.4 percent, while the output of the minor mining industry decreased by 18.7, the energy industry (electricity, gas, steam supply, air conditioning) grew by 7.3 percent.

The volume of the heaviest vehicle production, representing 25 percent of manufacturing production, fell by 14.5 percent compared to the same month of the previous year. The production of road vehicles decreased by 18.6 percent, and the production of road vehicle components by 10.3 percent.