Serbia's industrial production posts double-digit growth in October

By bne IntelliNews November 30, 2024

Serbia's industrial production surged by 14.4% in October 2024 compared to the 2023 average, driven by strong performances across key sectors, the Republic Statistical Office (RZS) reported on November 29.

This marks a continued upward trend for Serbia's industrial sector, which has shown resilience amid challenging global conditions. Analysts attribute the growth to increased domestic demand, export market recovery and investments in key industries.

On a year-on-year basis, industrial output increased by 8.1% in October, while monthly growth stood at 0.9%. For the first ten months of 2024, industrial production rose 3.3% compared to the same period last year.

Sector-specific data showed robust growth in October, with the processing industry expanding by 9.1%, electricity, gas, steam and air conditioning supply up by 7.8% and mining increasing by 0.4% compared to October 2023.

The production of metal products (excluding machinery), rubber and plastic products contributed most significantly to the overall growth. Additional boosts came from chemical production, electronics manufacturing and electricity generation.

#Serbia #macro #industrialproduction

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