Press Release 04/10/2023
INDUSTRIAL PRODUCTION INDEX. AUGUST 2023
Industrial activity in the Basque Country was down 2.1% in August 2023
Compared to the previous month, production rose by 1.7%
The industrial production of the Basque Country in August 2023 was down 2.1% compared to the same month of the previous year, in homogeneous terms of the working calendar, according to Eustat data. In this manner, cumulative production in the first eight months of 2023 was 0.7% below that observed during the same cumulative period of the previous year.
In relation to the previous month, July 2023, industrial activity in the Basque Country increased by 1.7% in June 2023, once corrected for seasonal effects.
By economic destination of goods, Energy production decreased in year-on-year terms by 11.1% in August 2023. This sector includes the production and supply of electricity and oil refining.
Consumer Goods also posted a negative year-on-year performance in August 2023, with a decrease in production that stood at 5.6% 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 16.6%. There was a 3.7% decrease in production of 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.
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 0.3%.
However, production of Capital Goods, which includes the manufacture of motor vehicles, construction of locomotives and railway material, naval construction and manufacture of aircraft, increased by 3.6% in relation to August of the previous year.
Industrial production index of the Basque Country by province and economic destination of the goods. Rates of variation (p). August 2023
| | Data corrected for calendar effects | Deseasonalised data |
| | m / m-12 | Am / A(m-12) | m / m-1 |
| GENERAL INDEX | | | |
| Basque Country | -2,1 | -0,7 | 1,7 |
| Araba/Álava | -0,7 | 0,4 | 2,2 |
| Bizkaia | -3,7 | -0,3 | 1,4 |
| Gipuzkoa | -0,8 | -1,7 | 1,7 |
| INDEXES BY ECONOMIC DESTINATION OF THE GOODS | | | |
| Consumer goods | -5,6 | 1,1 | 0,6 |
| Durable consumer goods | -16,6 | -9,4 | -0,6 |
| Nondurable consumer goods | -3,7 | 3,6 | 0,9 |
| Equipment goods | 3,6 | 2,3 | 0,6 |
| Intermediate goods | -0,3 | -0,4 | 3,0 |
| Energy | -11,1 | -10,2 | -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 October 4, 2023
Source: Eustat. Industrial production index
At a more disaggregated level, among the largest sectors in Basque industry, the only sectors that posted year-on-year growth in August 2023 were: Transport Material and Metallurgy & Metal Products, with increases of 9.4% and 1.5% respectively. Conversely, the sectors that posted the sharpest decrease in production in year-on-year terms were: Electricity, Gas and Steam, down 13.5%; Rubber and plastics, with a drop of 10.5%; and Food, Beverages & Tobacco Industries, which fell by 6.5%.
Industrial production index of the Basque Country. Key A38 Sectors (1). Year-on-year growth rates (p). August 2023
| | m / m-12 |
| Food industry, beverages, tobacco products | -6,5 |
| Timber, paperand printing and reproduction | -1,3 |
| Rubber and plastic | -10,5 |
| Metallurgy and metal products | 1,5 |
| Electrical equipment | -0,6 |
| Machinery and equipment | -0,5 |
| Transport material | 9,4 |
| Electricity, gas and steam | -13,5 |
(p)Provisional data
Data corrected for calendar effects
(1)Sectors with greatest weight in basque industry
Date October 4, 2023
Source: Eustat. Industrial production index
The year-on-year evolution of the Industrial Production Index in August 2023 was negative in all three provinces. In Bizkaia there was a 3.7% decrease in production, in Gipuzkoa it fell by 0.8% and finally, in Álava production was down 0.7% compared to August of the previous year.
CUMULATIVE BALANCE IN AUGUST 2023
In the cumulative total for the first eight months of the year, the Industrial Production Index fell by 0.7%, driven by the 10.2% decrease in Energy. Intermediate Goods also performed negatively, with a 0.4% drop in relation to the same cumulative period of the previous year. However, in Capital Goods, cumulative production until August increased by 2.3% and by 1.1% in Consumer Goods.
By province, the cumulative total of the first eight months of 2023 closed with a positive balance in Álava with growth of 0.4%. Bizkaia posted a cumulative decrease in production of 0.3% and, lastly, production fell by 1.7% 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 91.53% 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