Polish industry at the European forefront. In Germany there is a decline, in Poland there is an increase [MAPA]
Increase in industrial production sold by 6 percent y/y in September after taking into account the difference in working days means the highest dynamics of the Polish manufacturing industry from October 2022. – according to Eurostat data. A year ago we fell by 1.3%. y/y, so we more than make up for the losses.
Only six European countries, led by Norway, Sweden and Denmark, showed higher dynamics than us. Of the Scandinavian countries, only Finland broke out and production there dropped by 1.8%.
It is important that the Polish industry operates independently of the German one. While there has been strong growth in our country, in Germany there was a decrease of 0.8%. rdr.
In August, Polish industry was also, interestingly, in seventh place in Europe, but the composition of the countries ahead of us was different at that time. At that time, Ireland grew the fastest, recording a 28.5% jump. This time it was also ahead of us, but only slightly, because its dynamics dropped to 6.3% in September. rdr. Spain, Croatia, Türkiye, Malta and Luxembourg, which were ahead of us in August, moved behind us.
What was rising, what was falling?
Unfortunately, we cannot find out what exactly our growth was like from Eurostat data. The Central Statistical Office data from the main industries published at the end of October indicated high dynamics in the production of machinery and equipment (+16.2% yoy), as well as repair, maintenance and installation of machines (+34.6% yoy), which altogether suggests increased investments. By 17.4 percent sold coal production increased. In turn, by as much as 60.9 percent production sold to the water abstraction, treatment and supply industry decreased year on year.
The food products sector, the most important in the Polish industry, grew by 9.1% in September. y/y, the second most important – automotive by 12.8%. y/y, and the third one – metal products – by 11.4 percent. rdr. And what was it like in Europe?
The greatest recovery was recorded in the air vehicles segment in Lithuania (+314.9% yoy), the production of other pre-processed steel products also in Lithuania (+256.8% yoy) and in third place again was Lithuania with the automotive sector, the production of which increased there by as much as 210.1%. Next is Türkiye, where arms production increased by 149.2%. y/y and the production of communication equipment by 90.6%.
The three largest declines belong to Lithuania, because the production of rolling stock there dropped by 95.2%. y/y, consumer electronics by 89.6%, and computers and peripheral devices by 83.9%. It seems that in Lithuania during the year there was a great regrouping of production capacity towards new directions.
In the case of Germany, the largest decline concerned the car body production sector (-29.2% yoy), basic pharmaceuticals (-18.5% yoy) and the production of pesticides and chemicals for agriculture (-18.1% yoy). However, armaments production (+18.6% yoy), production of communication equipment (+17.8%) and electronic components (+16% yoy) increased. The arrangement of segments with the highest dynamics is quite similar to that in Turkey.
