Industrial production in Bulgaria increased in October, while it fell in the EU

Industrial production in the Eurozone in October 2023 decreased by 0.7% compared to September, when a drop of 1% was reported, Eurostat data announced today show. Compared to October 2022, industrial production fell by 6.6% in the Eurozone.

In the 27 countries of the EU, industrial production fell by 0.5% in October compared to the previous month, after a drop of 0.8% in September. On an annual basis, the indicator decreased by 5.5%.

For Bulgaria, Eurostat reports an increase in industrial production by 2.6% compared to the previous month of September and a decrease by 5.4% on an annual basis compared to October 2022.

The production of durable goods in October increased compared to September in the Eurozone by 0.2%, in the EU - by 0.3%. Energy production increased by 1.1% in the euro area and by 2.2% in the EU. The production of intermediate goods decreased by 0.7% in the euro area and by 0.6% in the EU. Production of capital goods fell by 1.4% in the euro area and by 0.9% in the EU.

The largest decrease in industrial production compared to the previous month was recorded in Ireland (-7.0%), Malta (-2.5%) and the Netherlands (-2.1%). The largest increase was observed in Greece (6.0%), Portugal (3.8%) and the Czech Republic (2.9%).

On an annual basis, the biggest decline was registered in Ireland (-34%), Estonia (-12.2%) and the Netherlands (-11.1%). The most significant increase was observed in Greece (10.8%), Denmark (6.9%) and Slovakia (4.4%).