The Industrial Production Index decreased by 8.3% year-on-year in March 2025, according to calendar-adjusted data published by the National Statistical Institute (NSI) on Friday. This marks the fourth consecutive month of annual decline, with the last year-on-year increase recorded in November 2024.
The drop in March is the steepest annual decrease in more than a year. The last more significant year-on-year contraction was registered in January 2024, when the index fell by 9.3%.
On a monthly basis, the Industrial Production Index decreased by 3.6% compared to February 2025. This is the sharpest monthly decline since January 2024, when a 3.7% drop was recorded.
Monthly changes
In March 2025, compared to the previous month, a decrease was seen in the electricity, gas, steam and air conditioning supply - by 39.8%, while a rise was registered in the mining and quarrying industry - by 6.0%, and in the manufacturing - by 0.8%. In the manufacturing an increase was reported in the manufacture of fabricated metal products, except machinery and equipment - by 16.9%, in the manufacture of computer, electronic and optical products - by 15.0%, and in the manufacture of basic metals - by 13.1%. More significant decline in the manufacturing was reported in manufacture of other transport equipment - by 31.8%, and in the other manufacturing - by 15.1%.
Annual changes
On an annual basis, a decrease of the Industrial Production Index was observed in the electricity, gas, steam and air conditioning supply - by 29.7%, in the manufacturing - by 3.3%, while a rise was registered in the mining and quarrying industry - by 2.9%. In the manufacturing, a significant decline in production, compared to the same month of the previous year, was seen in the manufacture of basic metals - by 24.9%, and in the manufacture of other transport equipment - by 24.0%. A rise was reported in the manufacture of fabricated metal products, except machinery and equipment - by 30.0%, and in the manufacture of computer, electronic and optical products - by 27.2%.
