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

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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.

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