Industrial production in the A.C. of the Basque Country in November 2003 increased 1.3% in absolute terms with regard to the same month in 2002, according to EUSTAT data. In homogenous terms of the working calendar, the inter-annual variation came to 1.6%. The accumulated growth rate for the first eleven months of the year, in relation to the same period of last year, came to 1.5% growth in absolute terms and 1.2% in homogenous terms of the working calendar.

In November 2003, the most positive inter-annual variations, in absolute terms, were obtained by the following sectors: “Oil refining” (43.8%), "Electric material" (7.0%), "Rubber and plastic" (5.1%) and "Food industry" (2.5%).

The sectors showing the most negative inter-annual rates were "Leather and footwear industry" (-33.9%) "Textiles and clothing" (-11.3%), "Timber industry" (-5.7%) and "Other manufactured” (-5.1%).

In terms of economic destination of goods, inter-annual rates for November 2003 rose in the case of Intermediate Goods (2.9%), but there were falls for Consumer Goods (-0.5%) and Capital Goods (-3.0%).

Balance for the first eleven months of 2003

For the first eleven months of the year, the sectors with the highest accumulated growth rates, in absolute terms, were “Oil refining” (24.0%), "Chemical industry" (9.0%), "Electric material" (6.3%) and "Rubber and plastic" (6.1%).

The most negative accumulated growth rates on the other hand were in "Leather and footwear industry" (-15.0%), "Other manufactured" (-4.5%), "Transport material" (-1.1%), "Non-metallic industry" (-0.8%) and "Paper, printing and graphic arts" (-0.7%).

Accumulated variations for the first eleven months of the year show growth for Intermediate Goods (2.5%), but not so in the case of Consumer Goods and Capital Goods, which decreased 2.0% and 0.8% respectively.

By Province, the index for November presents inter-annual growth in Alava and Gipuzkoa (6.3% and 3.4% respectively); in Bizkaia on the other hand, the index decreased 2.9%. In the first eleven months of the year as a whole all three Provinces show accumulated increases, although to differing degrees: Gipuzkoa grew 3.0%, whereas Alava and Bizkaia registered the more modest increases of 0.1% and 0.8% respectively, with respect to the same period last year.