KSH: industrial production fell by 8.2 percent in June

By: Trademagazin Date: 2024. 08. 14. 12:20

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In June 2024, the volume of industrial production was 8.2 percent, or 3.7 percent less than a year earlier, adjusted for the working day effect. The significant difference compared to the raw data is caused by the fact that there were two fewer working days this month than in June 2023 – the Central Statistics Office (KSH) confirmed in a second estimate released on Wednesday.

Production fell in the vast majority of the manufacturing sub-sectors, the largest in the production of electrical equipment.

Based on seasonally and working day-adjusted data, industrial output was 0.5 percent higher than in May 2024.
The volume of industrial exports was 8.1 percent lower than a year earlier. The export of vehicle production, which represents 34 percent of manufacturing export sales, fell by 13.6 percent, and the production of electrical equipment, which accounted for 12 percent, fell by 28 percent.

The domestic sales of the industry decreased by 5.1 percent, and that of the manufacturing industry by 7.4 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), was 9.2 percent lower, at the same time, the output of the minor mining industry was 7.4 percent, and that of the energy industry (electricity, gas, steam supply, air conditioning) was 9.5 percent higher than last June .