Industrial Production (annual variation in %)
Industrial production measures the output of the industrial sector, which typically comprises mining, manufacturing, utilities and, in some cases, construction. The industrial production indicator is generally provided as an index in volume terms. Annual variation in industrial production as a percentage thus reflects the change in the volume of industrial output as compared to the previous year.
Annual variation in industrial production provides insight into the state of the economic cycle as the production of consumer durables and capital goods is likely to decrease during an economic downturn. Despite the fact that the industrial sector only accounts for a portion of an economy’s total output, it is a leading indicator of Gross Domestic Product (GDP) growth and economic performance due to its sensitivity to consumer demand and interest rates.
The table below shows the percent changes in industrial production per country for the last five years.
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Industry Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Algeria | 1.9 | 1.5 | 2.4 | -1.5 | 2.7 |
| Argentina | 0.1 | -4.5 | 2.5 | -5.0 | -6.4 |
| Armenia | 5.1 | 6.8 | 12.6 | 4.4 | 9.0 |
| Australia | 1.7 | 2.0 | 1.2 | 3.8 | 2.4 |
| Austria | 10.8 | 2.5 | 3.9 | -1.8 | 1.7 |
| Azerbaijan | 2.4 | -0.5 | -3.4 | 1.5 | 1.8 |
| Bangladesh | 11.8 | 13.1 | 14.6 | 14.8 | 8.6 |
| Belarus | -6.6 | -0.4 | 6.1 | 5.7 | 1.0 |
| Belgium | -1.2 | 4.6 | 2.9 | 1.7 | 4.8 |
| Bosnia and Herzegovina | 3.1 | 4.5 | 3.1 | 1.6 | -5.5 |
| Brazil | -8.3 | -6.6 | 2.9 | 0.8 | -1.1 |
| Bulgaria | 2.9 | 2.7 | 3.4 | 0.3 | 0.6 |
| Canada | -0.5 | 0.1 | 4.5 | 3.1 | -0.9 |
| Chile | - | - | - | - | - |
| China | 6.1 | 6.0 | 6.6 | 6.2 | 5.7 |
| Colombia | 2.0 | 4.1 | -0.5 | 3.8 | 1.5 |
| Croatia | 2.5 | 5.0 | 1.9 | -1.0 | 0.5 |
| Cyprus | 4.8 | 10.3 | 7.7 | 6.6 | 3.2 |
| Czech Republic | 4.3 | 3.4 | 6.5 | 3.0 | -0.2 |
| Denmark | 0.1 | 4.2 | 2.0 | 2.0 | 2.7 |
| Dominican Republic | 8.5 | - | - | - | - |
| Ecuador | - | - | - | - | - |
| Egypt | 2.3 | -0.1 | 2.1 | 7.2 | 2.1 |
| Estonia | 0.3 | 3.4 | 4.0 | 4.0 | -2.3 |
| Eurozone | 2.6 | 1.6 | 3.0 | 0.7 | -1.3 |
| Finland | -0.9 | 4.2 | 3.4 | 3.4 | 1.8 |
| France | 1.5 | 0.6 | 2.4 | 0.4 | 0.4 |
| Germany | 0.9 | 1.8 | 3.3 | 0.9 | -3.1 |
| Ghana | 1.1 | 4.3 | 15.7 | 10.6 | 6.4 |
| Greece | 2.3 | 2.6 | 3.9 | 1.6 | -0.8 |
| Guatemala | 2.9 | 1.5 | 0.8 | 1.6 | 3.8 |
| Hungary | 7.4 | 0.9 | 4.6 | 3.5 | 5.4 |
| India | 3.3 | 4.6 | 4.4 | 3.8 | -1.2 |
| Iraq | 22.2 | 8.0 | - | - | - |
| Ireland | 44.3 | 2.1 | -2.5 | -4.8 | 2.9 |
| Israel | 2.2 | 1.7 | 3.7 | 3.5 | 2.9 |
| Italy | 1.1 | 1.9 | 3.6 | 0.7 | -1.0 |
| Japan | -1.1 | 0.0 | 3.1 | 1.1 | -3.0 |
| Jordan | 0.9 | -2.1 | -0.7 | -6.1 | -5.5 |
| Kazakhstan | -1.6 | -1.2 | 7.2 | 4.1 | 3.9 |
| Kenya | 7.3 | 5.9 | 3.8 | 5.3 | - |
| Korea | -0.3 | 2.2 | 2.7 | 1.6 | -0.1 |
| Kyrgyzstan | 2.4 | 2.0 | 9.5 | -9.6 | 3.8 |
| Latvia | 3.6 | 5.4 | 8.3 | 1.5 | 1.0 |
| Lithuania | 4.4 | 2.9 | 6.9 | 4.9 | 3.4 |
| Luxembourg | -8.2 | 1.5 | 6.4 | 5.8 | -4.4 |
| Malaysia | 2.5 | 4.1 | 4.4 | 3.1 | 2.3 |
| Malta | -0.2 | -6.9 | 8.3 | 1.6 | 1.7 |
| Mexico | 1.1 | 0.3 | -0.3 | 0.5 | -1.7 |
| Morocco | 1.8 | 0.6 | 3.6 | 3.0 | 3.5 |
| Netherlands | -3.4 | 1.3 | 1.4 | 0.6 | -0.9 |
| Nigeria | -3.4 | -9.4 | 0.9 | -4.8 | 7.5 |
| North Macedonia | 4.9 | 3.3 | 0.2 | 5.4 | 3.7 |
| Norway | 0.6 | -1.5 | 2.1 | 1.2 | -4.9 |
| Oman | 5.1 | 4.8 | -1.6 | 2.6 | - |
| Panama | 10.8 | 6.9 | 7.0 | 2.8 | 3.4 |
| Paraguay | - | - | - | - | - |
| Poland | 4.8 | 2.9 | 6.5 | 6.0 | 4.3 |
| Portugal | 2.1 | 2.3 | 3.9 | 0.1 | -2.3 |
| Qatar | 2.1 | 2.5 | 2.0 | 1.3 | -1.7 |
| Romania | 2.8 | 1.8 | 7.8 | 3.5 | -3.3 |
| Russia | 0.2 | 1.7 | 3.8 | 3.5 | 2.3 |
| Saudi Arabia | 5.0 | 2.3 | -2.4 | 2.7 | -2.6 |
| Serbia | 7.3 | 5.2 | 3.9 | 1.3 | 0.3 |
| Slovakia | 6.7 | 4.6 | 3.3 | 4.3 | 0.5 |
| Slovenia | 5.6 | 6.6 | 7.7 | 5.1 | 3.3 |
| South Africa | 0.0 | 0.7 | -0.5 | - | - |
| Spain | 3.2 | 1.9 | 3.2 | 0.3 | 0.7 |
| Sweden | 2.9 | 2.2 | 4.7 | 3.2 | 1.2 |
| Switzerland | -2.0 | 0.1 | 5.2 | 5.4 | 4.4 |
| Taiwan | -1.3 | 2.0 | 5.0 | 3.6 | -0.3 |
| Tunisia | -2.4 | -0.5 | -1.1 | -0.6 | -3.2 |
| Turkey | 6.1 | 3.4 | 9.1 | 1.1 | -0.6 |
| USA | -1.0 | -2.0 | 2.3 | 3.9 | 0.9 |
| Ukraine | -12.3 | 4.0 | 1.1 | 3.0 | -0.5 |
| United Arab Emirates | 6.0 | 3.2 | -0.8 | 1.6 | 3.1 |
| United Kingdom | 1.0 | 1.1 | 1.7 | 0.8 | -1.4 |
| Uruguay | 3.1 | 0.3 | -11.1 | 11.5 | -1.5 |
| Vietnam | 9.8 | 7.5 | 9.4 | 10.2 | 9.1 |
| Zambia | 0.2 | 5.6 | 5.4 | 4.3 | - |
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Industry Economic News
-
Hungary: Industrial production jumps on low-base effect in March
May 6, 2021
Industrial output soared 16.2% year-on-year in March (February: +3.9% yoy) benefiting from an extremely low-base effect as March 2020 was the first month of the Covid-19 pandemic, according to a preliminary estimate.
-
Serbia: Industrial output expands at fastest pace in over a year in March
May 4, 2021
Industrial output expanded 6.1% compared to the same month a year earlier in March, which followed February's 2.6% increase.
-
Korea: Industrial output growth speeds up in March
April 30, 2021
Industrial output expanded 4.7% compared to the same month a year earlier in March, which followed February's 0.9% increase, despite a still-unfavorable base effect.
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