The reduction in industrial production on an annual basis in Croatia continued in October, although at a slightly slower pace than in the previous month, with total industrial production in October compared to the same month last year being lower by 8.6 percent, according to the first results released today by the Croatian Bureau of Statistics (DZS).
October marks the thirteenth consecutive month of decline in industrial production on an annual basis, with the decline being somewhat milder than in September (when the decline was 9.6 percent). According to the Croatian Bureau of Statistics, industrial production in the first ten months of this year fell by 9.6 percent compared to the same period last year. In comparison to the average monthly production in 2008, industrial production in October of this year is down by 4.1 percent. Statistical data by sector show that the decline in industrial production is most influenced by developments in the most important sector, manufacturing, where production in the tenth month of this year was 9.9 percent lower than in October of last year.
The decline in production on an annual basis is also recorded in mining and quarrying, by 13.4 percent, while at the same time, production in the supply of electricity, gas, steam, and air conditioning increased by 4.1 percent. Within the manufacturing sector, most branches experienced a decline in production, with the largest drop recorded in the production of basic pharmaceutical products and pharmaceutical preparations, by 42 percent. Production of machinery and equipment decreased by 35.2 percent, other transport equipment by 29.5 percent, clothing by 28.4 percent, tobacco products by 23.5 percent, etc. At the same time, production growth was recorded in six activities within the manufacturing sector. The production of coke and refined petroleum products increased by the highest 31.7 percent, and the production of paper and paper products by 23.3 percent.
