Detailed analysis of monthly developments and trends by major industrial sectors

In November 2023, industry turnover witnessed significant changes, reflecting economic fluctuations and sector-specific influences. This analysis by National Statistical Institute  brings to the fore the details of the monthly developments, highlighting the performance and challenges faced by the various branches of the industry.

Slight decrease in November 2023 compared to October 2023:Industry turnover recorded a slight decrease of 0.2% in November 2023 compared to the previous month, negatively influenced by the decline in manufacturing (-0.4%). However, mining and quarrying showed a significant increase of 3.3%.

Analysis by major industry groups:By major industry group, decreases were recorded in the intermediate goods industry (-2.1%) and the capital goods industry (-0.5%). In contrast, the durable goods industry grew by 5.6% and the energy industry increased by 1.3%.

Compared to November 2022:Compared to the same month last year, industry turnover decreased by 0.4%. Mining and quarrying made a significant contribution to this reduction, recording an impressive 21.5% decline. In contrast, manufacturing recorded a modest increase of 0.6%.

Analysis by major industry group in November 2023 vs. 2022:Notable declines were recorded in the energy industry (-18.0%) and the intermediate goods industry (-4.2%). On the other hand, the consumer goods industry recorded a remarkable increase of 6.2%, while the capital goods industry and the durable goods industry showed increases of 3.8% and 3.0% respectively.

Performance on January-November 2023 vs. 2022. Overall, industry turnover increased by 1.1% in the period January-November 2023 compared to the same period last year. Manufacturing was the main driver of this growth, contributing an increase of 1.8%. In contrast, mining and quarrying recorded a decrease of 14.2%.

Conclusions:Industry turnover in November 2023 reflected economic dynamics and sector-specific changes. Despite declines in some industries, manufacturing was a supportive factor, highlighting the resilience and adaptability of the manufacturing sector to fluctuating market conditions. Against the background of these developments, continuous analysis of these trends is essential to anticipate and address future changes effectively.