Statistical Release
Industry - Production and stocks
31.03.2023
Preliminary results Periodicity: monthly Next publication date: 28.04.2023

Industrial production indices, February 2023

The industrial production in February 2023 increased by 1.9% relative to February 2022

Industrial production in the Republic of Serbia, in February 2023 was higher by 1.9% compared to the same month in 2022, and compared to the 2022 average was by 4.8% lower. Industrial production for the period January  February 2023. compared to the same period last year was by 3.1% higher. Seasonally adjusted index in February 2023 compared to January 2023 shows an increase of the total industry by 2.6% and increase of 1.8% of the Manufacturing section. 

Observed by sections, in February 2023, compared to February 2022, industrial production in the Mining and quarrying section decreased by 1.0%, industrial production in Manufacturing section decreased by 3.7%, and the production in the Electricity, gas, steam and air conditioning supply section increased by 29.6%.


1. Industrial production indices, by MIGs, sections and divisions, 2023

Republic of Serbia
  Ø 2022=100 II 2023
II 2022
I-II 2023
I-II 2022
I II I-II
TOTAL1)90.895.293.0101.9103.1
Energy111.2107.2109.2117.0114.3
Intermediate goods except energy79.887.883.888.190.9
Capital goods86.697.992.2112.1111.8
Durable consumer goods81.193.887.499.799.1
Non durable consumer goods85.490.888.1100.3102.3
B MINING AND QUARRYING103.593.298.499.0107.4
    05 Mining of coal and lignite97.387.892.694.196.7
    06 Extraction of crude petroleum and natural gas100.290.895.597.596.8
    07 Mining of metal ores120.1105.1112.6105.6122.5
    08 Other mining and quarrying47.758.653.185.197.6
C MANUFACTURING82.489.485.996.398.3
    10 Manufacture of food products86.988.787.898.3100.8
    11 Manufacture of beverages76.072.574.2106.8106.5
    12 Manufacture of tobacco products79.691.485.597.496.4
    13 Manufacture of textiles80.296.588.489.793.0
    14 Manufacture of wearing apparel87.595.191.3100.0100.3
    15 Manufacture of leather and related products69.286.878.087.886.3
    16 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials63.084.473.7101.6106.2
    17 Manufacture of paper and paper products75.487.681.587.686.7
    18 Printing and reproduction of recorded media76.683.580.086.489.0
    19 Manufacture of coke and refined petroleum products91.281.286.2100.6109.9
    20 Manufacture of chemicals and chemical products80.288.184.178.480.2
    21 Manufacture of basic pharmaceutical products and pharmaceutical preparations93.5113.0103.2112.1113.9
    22 Manufacture of rubber and plastic products84.597.891.295.395.5
    23 Manufacture of other non-metallic mineral products55.864.960.383.194.5
    24 Manufacture of basic metals67.775.771.761.357.5
    25 Manufacture of fabricated metal products, except machinery and equipment62.067.965.075.680.8
    26 Manufacture of computer, electronic and optical products92.0113.9102.9136.1133.6
    27 Manufacture of electrical equipment81.697.489.5102.6102.1
    28 Manufacture of machinery and equipment n.e.c.105.9112.7109.3136.3135.4
    29 Manufacture of motor vehicles, trailers and semi-trailers100.3116.0108.1115.4112.0
    30 Manufacture of other transport equipment85.3104.194.7106.7100.7
    31 Manufacture of furniture74.785.780.290.490.3
    32 Other manufacturing81.6100.390.9100.4105.0
    33 Repair and installation of machinery and equipment107.3113.7110.5128.5127.0
D ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY124.4124.7124.6129.6120.5
    35 Electricity, gas, steam and air conditioning supply124.4124.7124.6129.6120.5

1)The estimate of the industrial production of small-sized enterprises that are not covered by regular statistical surveys of industry was made for February 2023. The estimate was made on the basis of the sample. If the estimate of industrial production of small-sized enterprises is included, the industrial production index for February 2023/2022 average, for total industrial production stands at 95.2 and for manufacturing at 89.3.

2. Seasonally adjusted industrial production indices

Republic of Serbia Ø 2022=100
  I II III IV V VI VII VIII IX X XI XII
Total industry
202296.8100.6105.5103.9100.4100.497.397.198.199.299.5101.7
202399.7102.3
MANUFACTURING
202297.6102.1107.8104.0103.6101.796.197.197.497.697.597.9
202397.198.8

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Methodological explanations

Data in this Communication represent previous results and may undergo certain modifications. Starting from 1999 the Statistical Office of the Republic of Serbia has not at disposal and may not provide available certain data relative to AP Kosovo and Metohia and therefore these data are not included in the coverage for the Republic of Serbia (total).

Industrial production index shows the percentage of decrease or increase in the quantities of produced manufactured products (services) on a selected territory. Hence, the index of industrial production presents trends of changes in industry development and the dynamics of its production in short time intervals.

There are two phases in the calculation of the index of production. In the first one, indices for groups and divisions are calculated on the basis of data on quantities, which are collected through the Monthly Survey on Industry, and on the basis of the weight by products (services).

Laspeyre’s formula is used for the calculation. The quantities of products in the current and referent period are multiplied by weights of those products then those multiplication products are divided.

IFO₀= (∑ q1k0 /∑ q0k0) * 100

IFOo – index of the physical volume of industrial production for divisions;
             q1 – quantity produced in the current period;
             q– quantity produced in the referent period;
             k0 – weights for the product in the referent period.

In the second phase, the index of the physical volume of industrial production for the overall industry, sections and MIGs is calculated on the basis of indices obtained for divisions and on the basis of the weight for divisions, the formula below being used for that purpose:

IFO= ∑ WiIi /∑ Wi

 IFO –  index of the physical volume of industrial production;
               Ii – index of the physical volume of industrial production in a division;
               Wi – weight for the division from the referent period

 

 Methodological explanations of Industrial Production Index could be found on the SORS website. Time series of Industrial Production Indices are available on the SORS website, in the database.