Press Release 07/09/2023
INDUSTRIAL PRODUCTION INDEX. JULY 2023
Industrial activity in the Basque Country was down 4.7% in July 2023
Compared to the previous month, production fell by 2.7%
The industrial production of the Basque Country in July 2023 was down 4.7% compared to the same month of the previous year, in homogeneous terms of the working calendar, according to Eustat data. Cumulative production in the first seven months of 2023 was 0.7% below that observed during the same cumulative period of the previous year.
In relation to the previous month (June 2023), industrial activity in the Basque Country fell by 2.7% this month, once corrected for seasonal effects.
By economic destination of goods, Energy production decreased in year-on-year terms by 14.2% in July 2023. This sector includes the production and supply of electricity and oil refining.
In Intermediate Goods, which includes metallurgy and manufacture of metal products, the chemical industry and manufacture of rubber and plastic products, there was also a year-on-year decrease in production, with a negative variation of 5.5%.
Production of Capital Goods, which include the manufacture of motor vehicles, construction of locomotives and railway material, naval construction and manufacture of aircraft, decreased by 0.8% in relation to July of the previous year.
Consumer Goods also posted a negative year-on-year performance in July 2023, with a decrease in production that stood at 0.8% for the sector as a whole. This decrease was due to the performance of Consumer Durables which includes the manufacture of furniture and domestic appliances, which posted a reduction of 15.0%. However, production of Consumer Non-Durables increased by 2.9%. These include the activities of processing and conserving foodstuffs; the manufacture of cleaning and hygiene products; pharmaceutical products; and the manufacture of clothing.
Industrial production index of the Basque Country by province and economic destination of the goods. Rates of variation (p). July 2023
| | Data corrected for calendar effects | Deseasonalised data |
| | m / m-12 | Am / A(m-12) | m / m-1 |
| GENERAL INDEX | | | |
| Basque Country | -4,7 | -0,7 | -2,7 |
| Araba/Álava | -4,6 | 0,4 | -3,8 |
| Bizkaia | -2,4 | -0,1 | -3,4 |
| Gipuzkoa | -6,7 | -1,8 | -1,3 |
| INDEXES BY ECONOMIC DESTINATION OF THE GOODS | | | |
| Consumer goods | -0,8 | 1,7 | -3,7 |
| Durable consumer goods | -15,0 | -9,3 | -0,1 |
| Nondurable consumer goods | 2,9 | 4,5 | -4,4 |
| Equipment goods | -0,8 | 1,9 | -3,4 |
| Intermediate goods | -5,5 | -0,4 | -2,7 |
| Energy | -14,2 | -10,1 | -4,2 |
(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 September 7, 2023
Source: Eustat. Industrial production index
At a more disaggregated level, among the largest sectors in industry in the Basque country, the only sectors that posted year-on-year growth in July 2023 were: Food, Beverage & Tobacco Industries and Transport Material, up 0.5% and 4.4% respectively. Conversely, the sectors that posted the sharpest decrease in production in year-on-year terms were: Electricity, Gas and Steam with a 17.0% decrease; Rubber and plastics, down 11.9%; and Timber, Paper & Graphic Arts which fell by 8.1%.
Industrial production index of the Basque Country. Key A38 Sectors (1). Year-on-year growth rates (p). July 2023
| | m / m-12 |
| Food industry, beverages, tobacco products | 0,5 |
| Timber, paperand printing and reproduction | -8,1 |
| Rubber and plastic | -11,9 |
| Metallurgy and metal products | -6,3 |
| Electrical equipment | -2,5 |
| Machinery and equipment | -1,8 |
| Transport material | 4,4 |
| Electricity, gas and steam | -17,0 |
(p)Provisional data
Data corrected for calendar effects
(1)Sectors with greatest weight in basque industry
Date September 7, 2023
Source: Eustat. Industrial production index
The year-on-year evolution of the Industrial Production Index in July 2023 was negative in all three provinces. In Gipuzkoa, there was a 6.7% decrease in production, in Álava this was down by 4.6% and finally, in Bizkaia production fell by 2.4% compared to July of the previous year.
CUMULATIVE BALANCE IN JULY 2023
In the cumulative total for the first seven months of the year, the Industrial Production Index fell by 0.7%, driven by the 10.1% decrease in Energy. Intermediate Goods also performed negatively, with a 0.4% drop compared to the same cumulative period of the previous year. However, in Capital Goods, cumulative production until July increased by 1.9% and by 1.7% in Consumer Goods.
By province, the cumulative total of the first seven months of 2023 closed with a positive balance in Álava with growth of 0.4%. Bizkaia posted a cumulative decrease in production of 0.1% and this fell by 1.8% in Gipuzkoa.
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 82.62% 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