17 Martie 2009
Industrial production drops in Jan. 12.1% y/y on power industry cutbacks
The industrial production in Romania reduced an annual 12.1 percent in January following a one fifth fall of the activity in the processing industry and geared by the lower production in the power field, caused by the dearth of orders, the country’s Statistics Institute (INS) announced today, NewsIn informs.
Consequently, the processing industry lost 18.5 percent in January over the same month of 2008 and the electricity and thermal power production reduced 4.9 percent. Yet, the extractive industry advanced 4.4 percent year-on-year in January.
All major industrial branches witnessed significant falls in production at the beginning of the year. The capital goods industry lost 24 percent, the intermediary goods industry reduced 22.3 percent, the long-term goods industry had 18.7 percent smaller production. Plus, production in the power field dropped 8 percent and in the current goods industry, 2.6 percent, INS also reported.
Production in Romania’s industry was hit from two sides. On one hand it was the financial crisis which settled in the country since the 2008 fall and started punching hard the industry and on the other hand it was the continuous decrease of the national currency which made imports more expensive and affected exports as well.
All major industrial branches witnessed significant falls in production at the beginning of the year. The capital goods industry lost 24 percent, the intermediary goods industry reduced 22.3 percent, the long-term goods industry had 18.7 percent smaller production. Plus, production in the power field dropped 8 percent and in the current goods industry, 2.6 percent, INS also reported.
Production in Romania’s industry was hit from two sides. On one hand it was the financial crisis which settled in the country since the 2008 fall and started punching hard the industry and on the other hand it was the continuous decrease of the national currency which made imports more expensive and affected exports as well.