Business News

Malta with third lowest industrial production drop in June

12th August 2020

Ireland posts only increase on an annual basis

Malta posted the third lowest decrease in industrial production in June when compared to the same month last year.

Figures released by Eurostat show that the lowest decrease in both the EU and the euro area was observed in Latvia, followed by Croatia and Malta, while the highest was in Portugal, closely followed by Germany, Spain and Italy.

Ireland was the only member state to post an increase.

Eurostat said that the seasonally adjusted industrial production rose by 9.1 per cent in both the euro area and the EU in June, when COVID-19 containment measures started to be relaxed in many member states, compared with the previous month. In May, industrial production rose by 12.3 per cent in the euro area and by 11.6 per cent in the EU.

In the euro area, production of durable consumer goods rose by 20.2 per cent, capital goods by 14.2 per cent, intermediate goods by 6.7 per cent, non-durable consumer goods by 4.8 per cent and energy by 2.6 per cent in June over May.

In the EU, production of durable consumer goods grew by 20.2 per cent, capital goods by 14.2 per cent, intermediate goods by 6.5 per cent, non-durable consumer goods by 5.6 per cent and energy by 1.7 per cent.

The highest increases were registered in Slovakia, Hungary and Romania and decreases were observed in Belgium and Finland.

Industrial production dropped by 12.3 per cent in the euro area and by 11.6 per cent in the EU when compared with June 2019.

Production of capital goods in the euro area fell by 15.9 per cent, intermediate goods by 13.1 per cent, durable consumer goods by 8.9 per cent, energy by 7.6 per cent and non-durable consumer goods by 7.5 per cent on a year-on-year basis.

In the EU, production of capital goods was down by 16.4 per cent, intermediate goods by 11.9 per cent, energy by 9.1 per cent, durable consumer goods by 7.5 per cent and non-durable consumer goods by 6.0 per cent.


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Malta with third lowest industrial production drop in June