Slight increase in January-October industrial production

In the period from January to October 2020, industrial production in Serbia increased by 0.3% y-o-y, thanks to the increased production in the electricity sector by 3%, the authors of the monthly macroeconomic analysis magazine, MAT, said today.

“Compared to last October, industrial production this October went up by 1.9%, and the production of the processing industry is crucial for the dynamics of total industrial production”, the MAT experts say.

In September, manufacturing industry recorded a 4.1% increased, but fell 0.9% in October, so that in the January-October period this year it did not reach, as expected, the last year’s level, but fell by 0.1%.

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From January to October this year, electricity production increased by 0.5% and mining production by 2.6%.

In October, exports of base metals halved from 156 million euro in the previous month to 76 million euro.

Motor vehicles and trailers were the most exported.

The value of imports in October was 57 million euro lower, while imports of crude oil and gas, metal ores, petroleum products, chemicals, base metals and motor vehicles decreased.

Imports of food products and rubber and plastic products increased in October.

The current account deficit from January to September was 1.7 billion euro which is 300 million or 14.9% lower than in the same period last year.

The net influx of foreign direct investments from January to September was 1.7 billion euro and was 35.6% lower than in the same period of 2019.

Consumer prices rose minimally in October, less than the normal seasonal for that month, so inflation on an annual basis remained unchanged.

(eKapija, 07.12.2020)

This post is also available in: Italiano

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