Press Release 03/04/2023
INDUSTRIAL PRODUCTION INDEX. FEBRUARY 2023
Industrial activity in the Basque Country was down 0.9% in February 2023
The industrial production index rose by 1.3% compared to the previous month, January 2023
The industrial production of the Basque Country was down 0.9% in February 2023 compared to the same month of 2022, in homogeneous terms of the working calendar, according to Eustat data.
However, comparing February with the previous month, January 2023, industrial activity in the Basque Country was up 1.3% once corrected for seasonal effects.
By economic destination of goods, Consumer Goods posted a positive year-on-year performance in February 2023, with an increase of 1.9% for the sector as a whole. This increase was primarily due to the 2.7% upturn in production of Consumer Durables, which includes, among other activities, the manufacture of furniture and domestic appliances. Consumer Non-Durables, which includes the activities of processing and conserving foodstuffs; the manufacture of cleaning and hygiene products; pharmaceutical products; and the manufacture of clothing, posted an increase of 1.7% in production.
Production of Intermediate Goods also increased by 0.4% in year-on-year terms. Among the activities included in this sector are metallurgy and manufacture of metal products, chemical industry and manufacture of rubber and plastic products.
The production index decreased by 0.3% in relation to February 2022 for Capital Goods, which includes the manufacture of motor vehicles; construction of locomotives and railway material; and naval construction and manufacture of aircraft.
Finally, Energy fell by 10.0% in year-on-year terms in February 2023. This sector includes the production and supply of electrical power and oil refining.
Industrial production index of the Basque Country by province and economic destination of the goods. Rates of variation (p). February 2023
| | Data corrected for calendar effects | Deseasonalised data |
| | m / m-12 | Am / A(m-12) | m / m-1 |
| GENERAL INDEX | | | |
| Basque Country | -0,9 | -0,7 | 1,3 |
| Araba/Álava | 4,1 | 2,5 | 1,0 |
| Bizkaia | -0,9 | -2,6 | 3,8 |
| Gipuzkoa | -3,8 | -0,8 | -0,8 |
| INDEXES BY ECONOMIC DESTINATION OF THE GOODS | | | |
| Consumer goods | 1,9 | 2,8 | 0,0 |
| Durable consumer goods | 2,7 | 4,4 | -0,2 |
| Nondurable consumer goods | 1,7 | 2,4 | 0,1 |
| Equipment goods | -0,3 | 2,7 | -1,3 |
| Intermediate goods | 0,4 | 0,1 | 0,7 |
| Energy | -10,0 | -14,2 | 5,9 |
(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 3, 2023
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 2023 were: Transport Material, with a rise of 5.3%; Machinery & Equipment, which increased by 4.1%; and Rubber & plastics, up 3.0%. Conversely, the sectors that posted a sharper decrease in production were Electricity, Gas & Steam, which fell by 8.4%; Food, Beverages & Tobacco, down 2.5%; and Timber, Paper & Graphic Arts, where the drop in production was 1.4%.
Industrial production index of the Basque Country. Key A38 Sectors (1). Year-on-year growth rates (p). February 2023
| | m / m-12 |
| Food industry, beverages, tobacco products | -2,5 |
| Timber, paperand printing and reproduction | -1,4 |
| Rubber and plastic | 3,0 |
| Metallurgy and metal products | -1,1 |
| Electrical equipment | -0,2 |
| Machinery and equipment | 4,1 |
| Transport material | 5,3 |
| Electricity, gas and steam | -8,4 |
(p)Provisional data
Data corrected for calendar effects
(1)Sectors with greatest weight in basque industry
Date April 3, 2023
Source: Eustat. Industrial production index
The year-on-year evolution of the Industrial Production Index in February 2023 was negative in Gipuzkoa and Bizkaia, with year-on-year decreases of 3.8% and 0.9% respectively. However, in Álava, industrial production increased by 4.1% in year-on-year terms.
NOTE
Eustat would like to thank all the establishments that have collaborated with gathering information. As a result, the index for this month was calculated with 93.16% 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