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Turnover in selected sectors of economy in January 2024
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Turnover in selected sectors of economy in January 2024

Last update: 14.03.2024
Ilustračný obrázok/illustrative image
Publisher: Statistical Office of the SR
Topic: Sectoral statistics
Domain: Comprehensive products
Publish Date: 14.03.2024

Turnover continued to decline in industry, after a year they increased again in selected market services

In January, turnover rose in 3 out of 5 monitored sectors of the economy, most significantly in information and communication. After twelve months of negative values, turnover of selected market services recorded a growth of over 5%. In addition to industry, the decrease in turnover also continued in construction.

Industry, as the largest sector of the economy, recorded a year-on-year decrease in turnover of 4.8% in constant prices in January 2024, remaining in negative values for the third consecutive month. Among the 16 industrial sectors1), up to 10 of them recorded a fall in turnover.

The Statistical Office of the SR would like to inform that since the publication of the data for January 2024, all absolute values and values of year-on-year and month-on-month indices for monitored period have been re-calculated due to methodological adjustments – transition to a new base period (from 2015 to 2021) and application of the concept of kind-of-activity units of enterprises2) (PDF - 153 kB). The change relates to all monthly indicators of sectoral statistics.

In January, turnover in selected market services rose year-on-year by 5.8%, which means that after a year of declines, they reached positive values for the first time in January 2024. Transportation and storage companies also started the new year with a year-on-year increase in turnover of 1.1%, rising after two previous months of decreases.

In January, construction companies continued the four-month trend of decreases and the value of their turnover declined year-on-year by 3.7%.

At the beginning of 2024, turnover in information and communication increased year-on-year by 8.3% and slightly slowed down the dynamics of their growths. However, this is the only sector that reported long-term positive values in turnover.

Illustration image - Graph

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Development in January 2024 compared to December 2023

After adjusting for seasonal effects, in the first month of the year, turnover rose month-on-month in 4 out of 5 monitored sectors of the economy, most significantly in construction by 3.6%. In information and communication, it increased by 1.2%, in selected market services by 0.3% and in transportation and storage by 0.2%. Turnover declined month-on-month only in industry, by 3.6%.

  • 1) structure of industry according to the Statistical Classification of Economic Activities, SK NACE Rev. 2 consists of three sections - Mining and quarrying, Manufacturing and Electricity, Gas, Steam and Air conditioning Supply. Manufacturing is further divided into 13 manufacturing industries, or individual industrial groupings
  • 2) since the publication of data for January 2024, the entire time series of data has been recalculated due to methodological adjustments: transition to a new base period (from 2015 to 2021); applying the concept of classifying selected indicators according to kind-of-activity units of enterprises

Outputs on the topic Turnover in selected industries:

Since 2022, selected market services include business entities that are classified into the divisions 68 to 82 according to the main economic activity of SK NACE. Due to decreasing the burden of the business environment, data are not available on turnover for subjects classified into SK NACE divisions 85 to 96. Turnover therefore do not include information for education (SK NACE division 85), arts, entertainment and recreation, including gaming and betting activities (SK NACE divisions 90 - 93). Also, turnover of enterprises for other activities (SK NACE 95 and 96) to which they belonged among others laundry and dry cleaning, hairdressing and beauty treatment, funeral services, well - being services and other services of predominantly personal nature.

Data source: DATAcube. database:

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  • Slovak Republic
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