Statistical Release
Industry - Production and stocks
29.09.2023
Preliminary results Periodicity: monthly Next publication date: 31.10.2023

Industrial production indices, August 2023

The industrial production in August 2023 increased by 5.8% relative to August 2022

Industrial production in the Republic of Serbia, in August 2023 was higher by 5.8% compared to the same month in 2022, and compared to the 2022 average was by 0.6% higher. Industrial production for the period January  August 2023 compared to the same period last year was by 2.4% higher. Seasonally adjusted index in August 2023 compared to July 2023 shows a increase of the total industry by 1.9% and increase of 1.2% of the Manufacturing section. 

Observed by sections, in August 2023, compared to August 2022, industrial production in the Mining and quarrying section increased by 17.0%,  production in Manufacturing section increased by 2.4%, and the production in the Electricity, gas, steam and air conditioning supply section increased by 16.6%.


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

Republic of Serbia
  Ø 2022=100 VIII 2023
VIII 2022
I-VIII 2023
I-VIII 2022
VII VIII I-VIII
TOTAL1)98.4100.6100.4105.8102.4
Energy100.8104.6103.5110.3106.5
Intermediate goods except energy99.4103.198.2112.998.4
Capital goods99.391.4105.198.2109.8
Durable consumer goods82.287.295.192.297.6
Non durable consumer goods95.698.298.198.0100.3
B MINING AND QUARRYING98.7113.097.6117.0101.8
    05 Mining of coal and lignite96.0106.687.1103.690.4
    06 Extraction of crude petroleum and natural gas102.0103.599.2101.498.9
    07 Mining of metal ores99.8121.1109.6136.7116.5
    08 Other mining and quarrying105.7116.889.6119.790.6
C MANUFACTURING97.398.398.2102.499.7
    10 Manufacture of food products93.296.495.596.299.1
    11 Manufacture of beverages110.5110.1100.985.498.4
    12 Manufacture of tobacco products63.6100.394.193.998.0
    13 Manufacture of textiles87.097.5107.4121.3111.1
    14 Manufacture of wearing apparel94.467.2100.184.2102.8
    15 Manufacture of leather and related products82.761.083.191.685.5
    16 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials82.989.588.192.492.9
    17 Manufacture of paper and paper products85.188.491.992.789.0
    18 Printing and reproduction of recorded media85.886.884.882.484.7
    19 Manufacture of coke and refined petroleum products97.1102.893.2102.994.5
    20 Manufacture of chemicals and chemical products98.5112.598.7144.696.4
    21 Manufacture of basic pharmaceutical products and pharmaceutical preparations110.1113.1110.1132.0112.1
    22 Manufacture of rubber and plastic products95.983.197.389.897.6
    23 Manufacture of other non-metallic mineral products97.7119.092.5116.294.4
    24 Manufacture of basic metals131.1111.8105.7131.496.3
    25 Manufacture of fabricated metal products, except machinery and equipment92.089.690.194.491.6
    26 Manufacture of computer, electronic and optical products144.6135.7134.6136.8155.6
    27 Manufacture of electrical equipment90.3103.7100.0112.1104.1
    28 Manufacture of machinery and equipment n.e.c.93.090.5107.492.7113.5
    29 Manufacture of motor vehicles, trailers and semi-trailers95.793.5110.7110.3115.2
    30 Manufacture of other transport equipment118.2113.2112.090.3102.5
    31 Manufacture of furniture85.388.490.596.192.6
    32 Other manufacturing100.554.894.484.7100.4
    33 Repair and installation of machinery and equipment104.2111.1103.2102.4108.1
D ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY103.6105.1112.4116.6116.4
    35 Electricity, gas, steam and air conditioning supply103.6105.1112.4116.6116.4

1)The estimate of the industrial production of small-sized enterprises that are not covered by regular statistical surveys of industry was made for August 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 August 2023/2022 average, for total industrial production stands at 100.7 and for manufacturing at 98.4.

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
202296.5100.2103.7101.7101.1101.298.798.198.599.2100.0101.8
2023100.0102.4104.3103.2101.9102.3101.9103.8
MANUFACTURING
202298.0102.5105.5101.9102.9100.798.098.098.197.998.598.8
202398.299.8102.3101.1100.4101.699.6100.8

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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.