Industrial production drops in Serbia at start of 2022

NEWS 06.04.202219:09
Promo

Industrial production dropped in the first two months of this year mainly because of a drop in power, gas, steam and air conditioning supply sectors, the Macroeconomic Analyses and Trends (MAT) newsletter said on Wednesday.

It said that overall industrial production dropped 2.2 percent in January and 0.7 percent in February y.o.y. because the power, gas, steam and air conditioning supply sectors dropped by 18.6 percent in January and 25.8 in February. It added that the mining sector saw y.o.y. growth of 30.6 percent in January because metal ore mining rose by 230 percent.

Foreign trade stood at more than 5 billion Euro in February or 41 percent more than the same month in 2021 due to a sudden rise in imports. Exports rose at y.o.y. level by 28 percent and imports by 51.7 percent with February’s deficit total 1.072 billion Euro. The highest rise was in energy industry imports in February which stood 92 percent higher than a year earlier.

The current accounts deficit totaled 141.7 million Euro in January while foreign direct investments stood at 125.9 million Euro, a drop of 46.7 percent.

The budget deficit stood at 44.7 billion Dinars (1 Euro – 118 Dinars) in February.