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 | 1.6 | 2.4 | -1.5 | - |
| Argentina | 0.1 | -4.5 | 2.5 | -4.6 | -6.2 |
| Armenia | 5.1 | 6.8 | 12.6 | 4.4 | 9.0 |
| Australia | 1.7 | 2.0 | 1.2 | 3.8 | - |
| Austria | 2.0 | 2.4 | 5.4 | 5.3 | - |
| Azerbaijan | 2.4 | -0.5 | -3.4 | 1.5 | 1.8 |
| Bangladesh | 11.8 | 13.1 | 14.6 | 14.8 | - |
| Belarus | -6.6 | -0.4 | 6.1 | 5.7 | 1.0 |
| Belgium | -1.1 | 4.4 | 2.9 | 1.1 | - |
| Bosnia and Herzegovina | 3.1 | 4.5 | 3.1 | 1.6 | -5.5 |
| Brazil | -8.2 | -6.4 | 2.5 | 1.0 | -1.1 |
| Bulgaria | 2.9 | 2.7 | 3.4 | 1.1 | 0.8 |
| Canada | -0.5 | 0.1 | 4.5 | 3.1 | - |
| 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 | 7.2 | 6.6 | - |
| Czech Republic | 4.3 | 3.4 | 6.5 | 3.0 | -0.4 |
| 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 | 4.1 | -2.1 |
| Eurozone | 2.6 | 1.6 | 2.9 | 0.9 | -1.7 |
| Finland | -1.0 | 4.2 | 3.4 | 3.4 | 2.0 |
| France | 1.5 | 0.6 | 2.3 | 0.3 | 0.3 |
| Germany | 0.9 | 1.8 | 3.3 | 1.0 | -3.5 |
| Ghana | 1.1 | 4.3 | 15.7 | 10.6 | - |
| Greece | 2.3 | 2.6 | 3.9 | 1.6 | -0.6 |
| Guatemala | 2.9 | 1.5 | 0.6 | 1.3 | 3.3 |
| Hungary | 7.4 | 0.9 | 4.6 | 3.5 | 5.4 |
| India | 3.3 | 4.6 | 4.4 | 3.8 | - |
| Iraq | 22.2 | 8.0 | - | - | - |
| Ireland | 44.4 | 2.1 | -2.5 | 0.1 | 0.8 |
| Israel | 2.2 | 1.7 | 3.7 | 3.5 | 2.6 |
| Italy | 1.1 | 1.9 | 3.6 | 0.6 | -1.4 |
| Japan | -1.1 | 0.0 | 3.1 | 1.1 | -2.8 |
| Jordan | 0.9 | -2.1 | -0.7 | -6.1 | - |
| 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 | 2.6 | 1.4 | -0.7 |
| 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 | - |
| Malaysia | 2.5 | 4.1 | 4.4 | 3.0 | 2.4 |
| Malta | -0.2 | -6.9 | 8.3 | 1.7 | 1.9 |
| Mexico | 1.2 | 0.4 | -0.2 | 0.5 | -1.8 |
| Morocco | 1.8 | 1.0 | 3.2 | 3.0 | - |
| Netherlands | -3.4 | 1.3 | 1.4 | 0.6 | -1.1 |
| Nigeria | -3.4 | -9.4 | 0.9 | -4.8 | - |
| North Macedonia | 4.9 | 3.3 | 0.2 | 5.4 | 3.7 |
| Norway | 0.6 | -1.5 | 2.1 | 1.1 | -4.9 |
| Oman | 5.1 | 4.8 | -1.6 | 2.6 | - |
| Panama | 10.8 | 6.9 | 7.0 | 2.8 | - |
| Paraguay | - | - | - | - | - |
| Poland | 4.8 | 2.9 | 6.5 | 5.8 | 4.0 |
| Portugal | 2.1 | 2.3 | 3.9 | 0.1 | -2.4 |
| Qatar | 2.1 | 2.5 | 2.0 | 1.3 | - |
| Romania | 2.8 | 1.8 | 7.8 | 3.5 | -3.3 |
| Russia | -0.8 | 2.1 | 2.2 | 3.5 | 2.3 |
| Saudi Arabia | 5.0 | 2.3 | -2.4 | 2.7 | - |
| Serbia | 7.3 | 5.2 | 3.9 | 1.3 | 0.3 |
| Slovakia | 6.7 | 4.6 | 3.3 | 4.3 | 0.4 |
| Slovenia | 5.0 | 7.7 | 8.4 | 5.0 | 3.0 |
| South Africa | 0.0 | 0.7 | -0.5 | - | - |
| Spain | 3.2 | 1.9 | 3.2 | 0.3 | 0.6 |
| Sweden | 2.9 | 2.2 | 4.7 | 3.2 | 1.1 |
| Switzerland | -2.0 | 0.1 | 5.2 | 5.4 | 4.5 |
| Taiwan | -1.3 | 2.0 | 5.0 | 3.6 | -0.3 |
| Tunisia | -2.4 | -0.5 | -1.1 | -0.6 | - |
| Turkey | 6.1 | 3.4 | 9.1 | 1.1 | -0.6 |
| USA | -1.0 | -2.0 | 2.3 | 3.9 | 0.8 |
| Ukraine | -13.0 | 2.8 | 0.4 | 1.6 | -1.8 |
| United Arab Emirates | 6.0 | 3.2 | -1.3 | 2.3 | - |
| United Kingdom | 1.0 | 1.1 | 1.7 | 0.8 | -1.3 |
| 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
-
Kazakhstan: Industrial output growth falls to one-year low in May
July 17, 2020
Industrial production increased a meagre 0.5% year-on-year in May (April: +6.2% yoy), as the effects of the Covid-19 pandemic dented activity.
-
Serbia: Industrial output drops again in May
June 30, 2020
Industrial production dropped 9.3% year-on-year in May (April: -16.6% yoy), according to a preliminary estimate.
-
Vietnam: Industrial output bounces back in June
June 29, 2020
Industrial output rose 7.0% year-on-year in June (May: -0.4% yoy).
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