KSH: industrial production decreased by 3.9 percent in January

By: Trademagazin Date: 2025. 03. 13. 09:05

In January 2025, the volume of industrial production fell by 3.9 percent from a year earlier. The index adjusted for working days is the same as the unadjusted one. Production increased in five of the manufacturing sub-sectors, while it fell in eight, with the largest decline in the manufacture of electrical equipment, the Central Statistical Office (KSH) confirmed in its second estimate released on Thursday.

Based on seasonally and working day-adjusted data, industrial output was 0.8 percent higher than in December 2024, the KSH added.

The production of the manufacturing industry, which accounts for the majority (96 percent) of industry, fell by 3.7 percent, that of the energy industry (electricity, gas, steam supply, air conditioning) by 8.9 percent, while the output of the mining industry, which has a small share, increased by 80 percent.

The volume of industrial exports was 5.7 percent higher than a year earlier. The export of vehicle manufacturing, which represents 30 percent of manufacturing export sales, decreased by 3.2 percent, while the production of computer, electronic and optical products, which accounts for 15 percent, increased by 29 percent.

Domestic sales of industry were 3.9 percent lower, and that of manufacturing was 3.1 percent lower than in the same month of the previous year.

The Central Statistical Office highlighted that the volume of vehicle manufacturing, which represents the largest share of manufacturing production, representing 26 percent, decreased by 3.0 percent compared to the same month of the previous year. The production of road vehicles decreased by 0.1 percent, and the production of road vehicle components by 6.2 percent.

The production of computer, electronic and optical products, which accounts for 11 percent of manufacturing production, increased by 15.4 percent – the largest among the sub-sectors. In terms of the two largest sub-sectors, the production of electronic components and circuit boards increased by 9.2 percent, and the production of computers and peripheral units by 39 percent.

The production of electrical equipment, which has a manufacturing weight of 8.5 percent, fell by 30 percent from a year earlier – the largest of all sub-sectors. Of the two most significant sub-sectors, the volume of production of batteries and dry cells fell by 46 percent, and that of electric motors, generators, distributors and regulators fell by 19.6 percent.

The production of food, beverages and tobacco products, which accounts for 13 percent of the manufacturing industry, decreased by 0.6 percent compared to the same month of the previous year. Domestic and foreign sales increased slightly. The production of meat processing, preservation and meat products, which represents the largest (23 percent) weight, increased by 0.6 percent compared to January of the previous year.

Six sub-sectors also saw output increase by between 5.0 and 58 percent, most significantly in very light fish processing and preservation, and least significantly in milk processing. The remaining four sub-sectors saw output decrease by between 0.5 and 25 percent, most significantly in vegetable and animal oil production.