Press Release 06/02/2018
INDUSTRIAL PRODUCTION INDEX, DECEMBER 2017
Industrial activity in the Basque Country rose by 6.3% in December 2017
The industry balance in 2017 closed with an accumulated increase of 3.0%, seven tenths higher than the previous year
Industrial production of the Basque Country in December 2017 was up by 6.3%, compared to the same month of 2016, in homogeneous terms of the working calendar, according to Eustat data.
Compared to the previous month, November 2017, the industrial production of the Basque Country rose by 2.7%, once seasonal effects had been corrected.
The index showed an upward trend for all the major industrial sectors in December 2017 compared to December 2016. Capital Goods rose by 6.8%, Intermediate Goods were up by 5.6%, Energy increased by 2.4% and Consumer goods, as a whole, saw a rise of 4.2% as a result, above all, of the increase in Consumer Non-Durables, which were up by 5.3%, since although Consumer Durables, also rose, they did so far more moderately (1.3%).
The month-on-month variation in December 2017, compared to November 2017, was also positive among the large industrial sectors: Capital Goods posted a rise of 2.8%; Intermediate Goods and Energy, were up by 1.5%, in both cases; and Consumer goods, as a whole, rose by 1.6% due to the increase experienced, above all, by Consumer Non-Durables, which were up by 2.1%; Consumer Durables increased by 0.4%.
Among the largest sectors in Basque industry, those that saw the most significant year-on-year growth in December 2017 were: Plastic & Rubber, which posted a positive variation of 9.3%; Electrical Material & Equipment with an increase of 9.2% and Machinery and Equipment that rose by 6.4%. On the other hand, the Timber paper and graphic arts sector registered a fall of 6.2%.
By province, the year-on-year performance of the Industrial Production Index for the month of December showed an upward trend in all three: it rose by 9.8% in Gipuzkoa, by 7.9% in Álava and 2.1% in Bizkaia.
Industrial activity balance for 2017: Intermediate Goods lead growth with an increase of 5.4%
The 2017 balance of the Industrial Production Index of the Basque Country ended with a rise of 3.0%, higher than the 2.3% that closed 2016.
By sector, the trend in the Rubber, Plastic and other Non-Metallic Minerals stood out, posting an increase of 7.4% year-to-date. Other sectors with significant growth in 2017 were: Chemical Industry (5.6%) and Computer, Electronic & Optical Products (5.5%). On the other hand, theTextile, Garments, Leather & Footwear (-3.0%), Manufacture of Pharmaceutical Products (-2.4%) and Electrical Material & Equipment (-0.6%) sectors registered the worst results over the year.
According to the classification by economic destination of goods, Intermediate Goods stood out, posting an accumulative growth of 5.4%, with Energy growing by 2.9% and Consumer Goodsposting an overall increase of 2.5%. Within the latter, it is worth mentioning the 13.5% accumulated growth posted by Consumer Durables, whilst Consumer Non-Durables fell by 1.5%. Capital Goods showed no accumulated variation in 2017 compared to 2016 (0.0%).
The accumulated variations in 2017 for the three provinces were also positive: in Álava and Bizkaia the index rose by 3.3%, in both cases, and Gipuzkoa saw an increase of 2.4%.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
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