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Industrial production in December 2020

Industrial production in December 2020

Last update: 10.02.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Industry
Publish Date: 10.02.2021

In December 2020, industrial production grew surprisingly the most dynamic in a year, but at the level for a whole year, industry fell by 9,1%

In December 2020, higher year-on-year growth in industrial production was driven by several sectors; in general, higher production was reported in up to 10 from 15 components of industry. The most influential component - manufacture of transport equipment increased by 9,9 %. At the level for a whole year, however, manufacture of transport equipment fell by 16,4 %. In general, compared to 2019, lower production was recorded with the exception of all four components of the industry.

Industrial production (IP) recovered at the end of almost the whole 2020 after an unfavourable development, despite the oncoming second wave of the Covid-19 pandemic. In December 2020, industry grew for the second month in a row after nine months of decline, while year-on-year growth accelerated to 6,8 %. As for the 15 monitored components of industry 1) - industrial sectors, or their special groupings, the volume of production was higher year-on-year in ten, so only five of them lagged behind the level of December 2019.

As for the special groupings of industries that contributed the most to the total growth of production, the most significant increase was recorded in manufacture of transport equipment by 9,9 %, which was the largest growth in manufacture of transport equipment in 2020. A significant growth in supply of electricity and gas continued, above 10 % was kept for the sixth month in a row, reaching 10,7 % in December. For the first time in 2020, manufacture of machinery n.e.c. also increased, while the year-on-year increase immediately reached a double-digit value of 17,2 %. Manufacture of metals also increased significantly by 12,8 % and manufacture of rubber and plastic products by 9,6 %.

The total production was affected by a decrease in the manufacture of coke and petroleum products by 24,3 %, other manufacture by 14,2 %, manufacture of textiles and leather by 11,1 %, manufacture of food by 1,7 % and in manufacture of basic pharmaceutical products by 6 %.

According to the main industrial groupings, compared to December 2019, production for intermediate consumption increased by 11 %, production of capital goods by 8 %, production related to energy by 4,2 % and production of durable goods by 1,3 %. Production of non-durable goods was lower by 6 %.

After adjusting for seasonal effects, industrial production decreased by 0,3 % in December 2020 compared to November 2020.

 In summary, since the beginning of 2020, IP decreased by 9,1 % year-on-year, while as for the 15 monitored components of industry 1) - industrial sectors, or most of their special groupings lagged behind the level of 2019, the volume of production was higher than in 2019 only in four of them.

As for the special groupings of industries that contributed the most to the total decline in production, the most significant decrease was in the manufacture of transport equipment, namely by 16,4 %. Compared to 2019, there was a significant decrease in manufacture of machinery n.e.c. by 12,8 %, other manufacture by 23,4 %, manufacture of rubber and plastic products by 9,4 % and in manufacture of metals by 6,5 %.

Compared to 2019, production was higher only in the supply of electricity and gas by 6,3 %, in mining and quarrying by 6,5 %, in the manufacture of coke and petroleum products by 4,5 % and in manufacture of chemicals by 1,2 %.

According to the main industrial groupings, production of durable goods decreased by 17,7 %,  production of capital goods by 15,3 %, production of non-durable goods by 10 % and the production for intermediate consumption by 6,4 % %. Energy-related production was higher by 5,1 %.


Note: preliminary data; industrial production represents volume production changes in its natural expression. Data are adjusted from the influence of the number of working days by program JDEMETRA+ and during processing of every month they are back-casted from the beginning of the time series. In December 2020, the number of working days was by 1 day higher than in the corresponding period of 2019 and also since the beginning of the year.
1) According to the Statistical classification of economic activities SK NACE Rev. 2, the structure of the industry consists of three sections – Mining and Quarrying, Manufacturing and Electricity, Gas, Steam and Air Conditioning Supply. Manufacturing is further divided into 13 special groupings of industrial sectors

 

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