Croatia Among EU Countries with Highest Industrial Output Growth in February

Total Croatia News

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Image: Pixabay
Image: Pixabay

In the European Union, the seasonally adjusted industrial production rose by 0.6% in February compared with January, when it declined by 0.3%. In the euro area, industrial production increased by 0.7% compared with the previous month when it fell by 0.7%.

Monthly comparison

Production of durable consumer goods increased the most, by 2.4% in the EU and by 2.7% in the euro area. In January, it fell by 0.4% in the EU and by 0.8% in the euro area.

Only the energy sector recorded a decrease, of 0.6% in the EU and 1.1% in the euro area.

Among member states, the highest monthly increases were registered in Italy (+4.0%), Croatia (+2.7%) and Ireland (+2.4%). 

It was the highest rate for Croatia since March 2021. In January 2022, industrial production in Croatia fell by 0.5%.

The largest decreases were observed in Slovenia (-8.3%), Lithuania (-3.8%) and Malta (-2.7%).

Annual comparison

In February 2022 compared with February 2021, industrial production increased by 3.0% in the EU and by 2.0% in the euro area. In January 2022, industrial production stagnated in the EU and declined by 1.5% in the euro area.

The recovery was driven by production of durable consumer goods, which increased by 6.3% in the EU and by 5.8% in the euro area. In January, production in this sector rose by 1.5% in the EU and stagnated in the euro area.

Only capital goods production decreased, by 2.1% in the EU and by 3.1% in the euro area.

Among member states, the highest annual increases were registered in Lithuania (+20.4%), Poland (+17.8%) and Bulgaria (+14.4%), while the largest decreases were observed in Ireland (-14.1%), Portugal (-5.7%) and Malta (-3.5%).

In Croatia, industrial production increased by 4.1% in February 2022 compared with February 2021, following an increase of 3.5% in January 2022.

For more, check out our business section.

 

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