In January, on an annual basis, manufacturing output decreased slightly – Economy, finance

According to the data of the Central Statistical Bureau, in January 2021, according to unadjusted data, manufacturing output was 3.1% lower than a year ago, but according to calendar adjusted data, output increased by 2.2%.

Following the Covid-19 crisis, most industries have continued to recover in recent months and are showing positive trends. In January, on an annual basis, an increase was observed in the largest sub-sector of manufacturing – wood processing – by 0,6%. Printing (+ 6.6%) and clothing (+ 10.1%) also made a positive contribution to the growth of the sector. Production volumes also increased in the chemical industry and furniture production.

In turn Negative trends in manufacturing in January were observed in the second largest sub-sector – food production (-11.4%). Production volumes of non-metallic minerals (-11%) and finished metal products (-7.5%) also decreased.

Manufacturing turnover at current prices also declined in January. The volumes of products sold on the domestic market and the volumes of products sold on exports decreased by -4.2% and -3.1%, respectively.

As in the overall economy, the outlook for manufacturing in 2021 remains broadly uncertain. Although producers are able to adapt to the current situation, new outbreaks of the epidemic and measures to limit the spread of the virus may also hamper the growth of the manufacturing industry. Manufacturing still has potential for development, especially at the expense of rising exports.

Ministry of Economics

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