Press Release 05/04/2022
INDUSTRIAL PRODUCTION INDEX. FEBRUARY 2022
Industrial activity in the Basque Country increased by 10.9% in February 2022
In the cumulative total for the first two months of 2022, the Industrial Production Index attained cumulative growth of 9.2%
The industrial production of the Basque Country was up 10.9% in February 2022 compared to the same month of 2021, in homogeneous terms of the working calendar, according to Eustat data.
Comparing February 2022 with the previous month, the industrial production of the Basque Country was up 0.7%, once corrected for seasonal effects.
Year-on-year variation rate of the industrial production index in the Basque Country (%)
Corrected for calendar effects
Feb, 2021 Apr, 2021 Jun, 2021 Aug, 2021 Oct, 2021 Dec, 2021 Feb, 2022 -20.0 0.0 20.0 40.0 60.0 80.0 100.0 -20.0 0.0 20.0 40.0 60.0 80.0 100.0 |
Jan, 2006 Jan, 2008 Jan, 2010 Jan, 2012 Jan, 2014 Jan, 2016 Jan, 2018 Jan, 2020 Jan, 2022 |
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The evolution of the index in February 2022 compared to February 2021 was positive for all the major industrial sectors. Capital Goods (which include the manufacture of motor vehicles, construction of locomotives and railway material, naval construction and manufacture of aircraft), increased by 19.6% and Energy rose by 11.9% in relation to February of the previous year. This sector includes the production and supply of electrical power and oil refining.
Consumer Goods, as a whole, posted an increase of 12.1%, with a 13.4% rise in Consumer Non-Durables and a 7.3% increase in Consumer Durables. Included within Consumer Non-Durables are the activities of preparation, processing and conservation of foodstuffs; manufacture of cleaning and hygiene products; and manufacture of clothing. The manufacture of furniture and domestic appliances are, among others, the activities included in the Consumer Durables sector.
Intermediate Goods; which includes the activities of metallurgy, manufacture of metal products, chemical industry and manufacture of rubber and plastic products, was up 5.0% in year-on year terms.
Industrial production index of the Basque Country by province and economic destination of the goods. Rates of variation (p). February 2022
| | Data corrected for calendar effects | Deseasonalised data |
| | m / m-12 | Am / A(m-12) | m / m-1 |
| GENERAL INDEX | | | |
| Basque Country | 10,9 | 9,2 | 0,7 |
| Araba/Álava | 7,1 | 8,0 | -1,9 |
| Bizkaia | 9,4 | 8,8 | 1,3 |
| Gipuzkoa | 14,8 | 10,3 | 1,7 |
| INDEXES BY ECONOMIC DESTINATION OF THE GOODS | | | |
| Consumer goods | 12,1 | 10,5 | 1,6 |
| Durable consumer goods | 7,3 | 4,1 | 2,4 |
| Nondurable consumer goods | 13,4 | 12,2 | 1,4 |
| Equipment goods | 19,6 | 15,7 | 2,4 |
| Intermediate goods | 5,0 | 3,8 | 0,3 |
| Energy | 11,9 | 13,3 | -2,0 |
(p)Provisional data
m / m-12 Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
Am / A(m-12) Year-on-year variation rate for the accumulated period from January to the last month observed (Am) with respect to the same accumulated period in the previous year (A(m-12))
m / m-1 Variation rate of the last observed month (m) compared to the previous month (m-1)
Date April 5, 2022
Source: Eustat. Industrial production index
At a more disaggregated level, among the largest sectors in Basque industry, those that posted the highest year-on-year growth in February 2022 were Machinery & Equipment, with a rise of 23.4%; Transport Material, which increased by 17.0%; and Electricity, Gas & Steam, up 16.8%. In contrast, the only sector that posted a decrease in production was Timber, Paper & Graphic Arts, with a drop of 0.6%.
Industrial production index of the Basque Country. Key A38 Sectors (1). Year-on-year growth rates (p). February 2022
| | m / m-12 |
| Food industry, beverages, tobacco products | 7,1 |
| Timber, paperand printing and reproduction | -0,6 |
| Rubber and plastic | 4,5 |
| Metallurgy and metal products | 9,5 |
| Electrical equipment | 3,7 |
| Machinery and equipment | 23,4 |
| Transport material | 17,0 |
| Electricity, gas and steam | 16,8 |
(p)Provisional data
Data corrected for calendar effects
(1)Sectors with greatest weight in basque industry
Date April 5, 2022
Source: Eustat. Industrial production index
The year-on-year evolution of the Industrial Production Index in February 2022 was positive for the three provinces: in Gipuzkoa growth stood at 14.8%, in Bizkaia the Index increased by 9.4% and, finally, in Álava, it rose by 7.1%.
INFORMATIVE NOTE
Eustat would like to thank all the establishments that have collaborated with gathering information. As a result, the index for February 2022 was calculated with 93.03% coverage of the sample.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62