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
-
Thailand: Manufacturing production dips in June
July 31, 2021
Manufacturing output fell 0.4% month-on-month in seasonally-adjusted terms in June, contrasting the 0.1% growth clocked in May.
-
Serbia: Industrial output growth ebbs in May
July 30, 2021
Industrial output increased 4.4% year-on-year in June (May: +9.4% yoy).
-
Vietnam: Industrial activity drops at sharpest pace since February in July
July 29, 2021
Industrial output decreased 0.6% in year-on-year terms in July, which contrasted June's 2.6% increase.
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