KSH: industrial production decreased by 5.3 percent in December 2024

By: Trademagazin Date: 2025. 02. 13. 12:02

The volume of industrial production in December 2024 was 5.3 percent lower than a year earlier, or 6.4 percent lower than a year earlier, adjusted for working days, the Central Statistical Office (KSH) announced on Thursday, based on its second estimate.

Compared to the December data reported in the first estimate, the data in the second estimate did not change, they added.

Of the manufacturing sub-sectors, production increased in seven and decreased in six, with the largest decrease in the manufacture of electrical equipment.

Based on seasonally and working day-adjusted data, industrial output was 1.8 percent lower than in November 2024. In 2024, the volume of industrial production was 4.0 percent lower than in 2023

– the KSH announced.

The volume of industrial exports was 3.6 percent lower than a year earlier. The export of vehicle manufacturing, which represents 29 percent of manufacturing export sales, fell by 22 percent, while the production of computer, electronic, and optical products, which accounts for 13 percent, increased by 0.3 percent.

Domestic sales of industry were 2.8 percent lower, and those of manufacturing were 5.1 percent lower than in the same month of the previous year.

The production of manufacturing, which represents the dominant (94 percent) weight within industry, decreased by 7.1 percent, the output of mining, which has a small weight, increased by 81 percent, and that of the energy industry (electricity, gas, steam supply, air conditioning) by 24 percent.