Industrial Production Index up by 3.8% in first 10 months of 2024

The industrial production index for the period from January to October 2024 recorded an increase of 3.8% compared to the corresponding period of the previous year, according to data published by CySTAT.

The most significant positive changes were observed in water collection, treatment and supply (22.9%), the manufacturing of electronic and optical products and electrical equipment (12.8%), mining and quarrying (12%), the manufacturing of machinery and equipment, motor vehicles and other transport equipment (11%) and materials recovery (9.2%).

The most important activities where negative changes in production were registered were those relating to the manufacturing of paper and paper products and printing (-11%) and the manufacturing of textiles, wearing apparel and leather products (-4.1%).

In October 2024, the index reached 112.5 units (base 2021=100), recording an increase of 2% compared to October 2023. The manufacturing sector registered an increase of 1.8% compared to October 2023. An increase was also observed in the sectors of mining and quarrying (5.9%), water supply and materials recovery (5.7%) and electricity supply (1.1%).

In the manufacturing sector, the most significant positive changes compared to October 2023 were observed in the manufacturing of rubber and plastic products (12.5%), machinery and equipment, motor vehicles and other transport equipment (9.1%), other non-metallic mineral products (7.7%) and food products, beverages and tobacco products (6.3%).

The most important negative changes were observed in the manufacturing of paper and paper products and printing (-17.9%) and textiles, wearing apparel and leather products (-11.5%).

(Source: CNA)