Growth of Finished Industrial Products Inventory

Total inventories of finished industrial products at the end of November last year increased by 6.8 percent compared to inventories at the end of October, and by 15.4 percent compared to inventories at the end of November 2022, according to data from the Croatian Bureau of Statistics (DZS).

According to the main industrial groupings (GIG), the largest monthly increase was in energy inventories, which rose by 41.7 percent. Inventories of capital goods increased by 8.3 percent, intermediate goods by 5.4 percent, and non-durable consumer goods by 4.5 percent.

At the same time, inventories of durable consumer goods decreased by 1.1 percent.

On an annual basis, the largest increase was in inventories of capital goods, which rose by 41.8 percent. Inventories of durable consumer goods increased by 34.7 percent, energy by 28 percent, intermediate goods by 18.2 percent, and non-durable consumer goods by 8.1 percent.

According to the areas and sections of the National Classification of Activities (NKD), on a monthly basis, inventories in mining and quarrying fell by 0.4 percent, and on an annual basis by 10.9 percent, while inventories in the manufacturing industry increased by 7.2 percent monthly and by 16.6 percent annually.

Within the manufacturing industry, the largest monthly inventory growth was recorded in the production of coke and refined petroleum products, by 62.9 percent, in the production of tobacco products, by 42.7 percent, in the production of finished metal products, excluding machinery and equipment, by 33.2 percent, and in the production of other means of transport, by 22.3 percent.

The largest decrease in inventories was recorded in other manufacturing industries, by 31.2 percent, and in the production of motor vehicles, trailers, and semi-trailers, by 17.9 percent.

On an annual basis, within the manufacturing industry, the largest increases in inventories were in the production of motor vehicles, trailers, and semi-trailers, by 89.1 percent, in the production of chemicals and chemical products, by 73.7 percent, in the production of coke and refined petroleum products, by 71.1 percent, etc.

The largest decrease in inventories was recorded in the production of tobacco products, by 40.2 percent, and in the production of computers and electronic and optical products, by 30.9 percent.

The same report from the DZS showed that industrial production in November increased by 2.6 percent compared to the previous month, while it increased by 4.8 percent compared to November 2022.

In the first 11 months of last year compared to the same period the year before, industrial production remained at the same level.