Industrial production in Serbia from January to November increased by 2.6 percent compared to the same period last year, as announced on Friday by the Republic Statistical Office.
Regarding November 2023, industrial production was up by 3.6 percent compared to November 2022, and it was 8.4 percent higher compared to the average in 2022.
The major contributors to the growth in industrial production last month, compared to November of the previous year, were: production of basic metals, electricity production, production of other transport equipment, production of basic pharmaceutical products and preparations, and production of computers, electronic, and optical products.
Examining the sectors, there was a growth of 10.3 percent in the sector supplying electricity, gas, steam, and air conditioning, and a 2.4 percent growth in the manufacturing sector, while the mining sector remained at the same level.
Data on industrial production, based on purpose groups, in November 2023 compared to November of the previous year, showed an increase in the production of capital goods by 4.4 percent, intermediate goods excluding energy by 4.2 percent, non-durable consumer goods by 3.6 percent, and energy by 2.7 percent. However, there was a decline of 2.5 percent in the production of durable consumer goods.
The seasonally adjusted index of industrial production for November 2023 compared to October 2023 showed a growth of 0.4 percent in overall industrial production, while the manufacturing industry experienced a decrease of 1.2 percent. The seasonally adjusted index of industrial production for November 2023 compared to the average in 2022 indicated a growth of 3.1 percent in total and a 0.4 percent growth specifically in the manufacturing industry.
The production of small enterprises not covered by regular statistical surveys is tracked using a sample of selected units from the manufacturing sector. When estimating industrial production from small enterprises in the sample, in November 2023 compared to the average in 2022, overall industrial production increased by 8.5 percent, while the manufacturing industry specifically increased by 6.3 percent.
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