Carmakers help maintain double-digit growth in industrial output

Slovakia’s industrial output in June maintained its double-digit pace of growth, surging 11.3 percent year-on-year after adjustment for the number of working days, according to data from the Slovak Statistics Office (ŠÚ). In May, industrial output rose 11.1 percent year-on-year.

Slovakia’s industrial output in June maintained its double-digit pace of growth, surging 11.3 percent year-on-year after adjustment for the number of working days, according to data from the Slovak Statistics Office (ŠÚ). In May, industrial output rose 11.1 percent year-on-year.

The driving force of industrial output in June was again manufacturing, which rose by 14.1 percent. Mining and quarrying dropped 20.7 percent, while electricity, gas, steam and cooled air supplies fell by 4.2 percent, the ŠÚ reported on Thursday, August 9, as quoted by the SITA newswire. Net of seasonal influences growth in industrial output slowed by 1.4 percent in June compared to May.

The biggest contribution to growth in industrial output in June came from carmakers: manufacturing of transport equipment soared by 50.9 percent in annualised terms. Manufacturing of textiles, apparel, leather and leather products followed, reporting growth of 12 percent. Manufacture of PCs, electronic and optical products posted growth of 4.9 percent. Production of electrical equipment went up 6.3 percent and manufacturing of wood and paper products and print reported 2.4-percent growth. The volume of production dwindled mainly in manufacturing of metals and metal structures – except for machinery and equipment – by 4.2 percent and in manufacturing of chemicals and chemical products by 15 percent.

Slovakia's foreign trade surplus continued to show significant growth: the surplus for the first six months of 2012 was higher than for the whole last year, when a record surplus of €2.442 billion was reported. According to preliminary data from the ŠÚ, the surplus in foreign trade was €2.466 billion in the first half of 2012, up €1.521 billion year-on-year. In June alone the trade surplus was a record €546.6 million, €12.5 million above the May figure. Overall exports of goods in June soared in yearly terms by 10.2 percent to €5.273 billion. Following a moderate year-on-year drop in May, imports grew again by 2.8 percent to €4.727 billion. Over the first six months exports of goods from Slovakia surged 9.9 percent in yearly terms to €30.396 billion, while overall imports went up 4.5 percent to €27.93 billion.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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