Industrial Production Index remains stable in April on an annual basis

In April 2023, the Industrial Production Index reached 127.2 units (base 2015=100), recording a slight increase of 0.2% compared to April 2022, according to data published by CySTAT.

The manufacturing sector registered an increase of 1.4% compared to April 2022. Negative changes were observed in the sectors of electricity supply, with a decrease of 5.4%, water supply and materials recovery with 2.7% and mining and quarrying, with 0.6%.

In the manufacturing sector, the most significant positive changes compared to April 2022 were observed in the manufacturing of textiles, wearing apparel and leather products, which recorded an increase of 12.9%, basic metals and fabricated metal products, with 12% and machinery and equipment, motor vehicles and other transport equipment, with 5.4%.

Negative changes were observed in the manufacturing of furniture and repair/installation of machinery and equipment, which dropped 3.6% and the manufacture of food products, beverages and tobacco products, with a decrease of 1.8%.

For the period January – April 2023, the index recorded a decrease of 0.2% compared to the corresponding period of the previous year. The most significant positive changes were observed in the manufacturing of textiles, wearing apparel and leather products, with a 18% increase, materials recovery, with 10.8%, mining and quarrying, with 9.1%, manufacturing of basic metals and fabricated metal products, with 8.4% and manufacturing of other non-metallic mineral products with 7.6%.

The most significant negative changes where a decrease in production was observed compared to the period January – April 2022 were those relating to electricity supply, that dropped 14.1%, water collection, treatment and supply, with a 10.1% decrease and the manufacturing of furniture and repair/installation of machinery and equipment, with 5.2%.

(Source: CNA)