Industrial production climbs 2.6% in Q1

This is an improvement compared to the 6.1% year-on-year decrease recorded in Q4 2020.

The industrial production for manufacturing industries as a whole increased 2.6% year-on-year in the first quarter of the year, following 6.1% YOY drop recorded in the fourth quarter of 2020.

The corresponding producer price index increased by 1.7% during the same quarter, against 2.9% recorded in the preceding quarter.

The index of industrial production for sewerage, waste management and remediation activities also increased 1.5%, compared to the 0.7% rise recorded in the fourth quarter of 2020. The corresponding price index, meanwhile, went up 1.2% over the same period.

Moreover, during the quarter, amongst the major manufacturing industries, increases in output volume were seen in the food, beverages and tobacco industry (+5.4%); whilst decreases in output volume were recorded in the textiles and wearing apparel industry (-2.8%); the paper products, printing and reproduction of recorded media industry (-2.7%); and the metal, computer, electronic and optical products, machinery and equipment industry (-1.3%).

In terms of producer prices, increases were registered in metal, computer, electronic and optical products, machinery and equipment industry (+2.8%); the paper products, printing and reproduction of recorded media industry (+1.0%); and the food, beverages and tobacco industry (+0.7%). In contrast, the textiles and wearing apparel industry decreased by 0.4%.