Serbia’s industrial sector shows resilience with growth in key areas

In April of this year, Serbia’s industrial production showed promising growth compared to the same period last year. Here’s a breakdown of the key points from the Republic Institute of Statistics (RZS) announcement:

1. Overall growth: Industrial production in April 2024 was 2.9% higher than in April 2023. Additionally, compared to the average of 2023, it increased by 0.4%.
2. Sectoral performance:
   • Processing industry: Notable growth of 6.6% compared to April 2023.
   • Mining: Saw a 5.3% increase.
   • Electricity, gas, steam and air conditioning: Experienced a decline of 15%.
3. Production by specific groups:
   • Capital products: Increased by 20.8%.
   • Intermediate products (except for energy): Grew by 16.1%.
   • Non-durable goods consumer products: Rose by 11.2%.
   • Consumer durables: Saw a growth of 6.5%.
   • Energy production: Declined by 28.4%.
4. Influence on growth:
   • Notable contributions to industrial production growth were observed in:
     • Production of food products
     • Production of metal products (except machinery)
     • Production of basic metals
     • Production of computers, electronic, and optical products
     • Production of motor vehicles and trailers.
5. Seasonally adjusted index:
   • Compared to March 2024, the overall industry remained at the same level, with a 0.4% growth in the processing industry.
6. Comparison to 2023 average:
   • The seasonally adjusted index for April 2024, compared to the average of 2023, showed a total decrease of 1.8% for the industry and a 0.7% decrease for the processing industry.
7. Inclusion of small enterprises:
   • The assessment includes monitoring small enterprises with fewer than 50 employees, not covered by regular statistical research.
   • When included, industrial production in April 2024 compared to the average of 2023 is higher by 0.3% in total industrial production and by 2.2% in the processing industry.

These statistics provide insights into Serbia’s industrial performance, highlighting areas of growth and decline across different sectors and product categories.