Industrial output up 6.0% y.o.y. in October

In October 2013 industrial gross output grew by 6.0% compared to the same month of 2012, according to newly-released figures from the Central Statistics Office (KSH). KSH attributed the growth mainly to a rise in sales of transport equipment and related supplier branches, as well as that of food industry.

Year-on-year, output rose by 0.7% in the first ten months of 2013, though the volume of industrial production in October was down 0.5% month-on-month.

Industrial export sales rose by 4.2% through 2013 thus far and by 10.8% y.o.y. in October compared. Of the two manufacturing subsections accounting for nearly 50% of export sales, the export of transport equipment, representing almost one-third of manufacturing exports, increased outstandingly, by 29.8% in October. In the manufacture of computer, electronic and optical products – the other significant subsection accounting for one-sixth of manufacturing exports – export volume fell by 7.9%.

Industrial domestic sales declined by 1.9% in January-October, while they rose 5.3% y.o.y. in October. Year-on-year, domestic sales of manufacturing increased by 3.5% in the month, while production of manufacturing grew by 6.7% in October y.o.y.

The output of energy industry (electricity, gas, steam and air-conditioning supply) was 4.1% lower y.o.y.

In October 2013, increases were observed in nine of the thirteen subsectors of manufacturing, while volume decreases of 0.6% to 8.2% y.o.y. The production of transport equipment, representing one-quarter of manufacturing, grew by an outstanding 28.4%. The second largest subsector, manufacture of computer, electronic and optical products, dropped by 8.2%.

In October 2013, total new orders in the observed branches of manufacturing rose by 5.9% y.o.y. The volume of new export orders increased by 4.6%, while that of new domestic orders grew by 14.2%. The volume of total stock of orders exceeded the level of October 2012 by 23.4%.

Through the first 10 months of the year, the labour productivity of industrial enterprises with five or more employees grew by 0.3% compared to the same period of 2012 along with a 0.4% increase in the number of employees.