Industrial production in Serbia increased by 1.0% year-on-year in November, BalkanEngineer.com has learned from data from the Serbian Statistical Office. This growth is significantly more modest compared to October, when an increase of 8.1% was reported.

The mining industry contributed the most to the growth, with its output increasing by 4.8% compared to November last year. The manufacturing sector also posted positive results with a 2.2% increase. However, the electricity, gas and air-conditioning distribution sector recorded a decline of 5.8%, which has an impact on the overall picture.
Compared to October, the seasonally adjusted data for November shows a decline of 2.8% in the industry as a whole, with the manufacturing sector posting a decrease of 2.4%. Despite the short-term fluctuations, the country's industrial production grew by 3.2% year-on-year in the first eleven months of 2024.
According to the statistical office's annual estimate, for the whole of 2024, industrial production grew by 3%, with the manufacturing sector posting growth of 4.4%. In short, the data shows the continued development of the industry despite challenges in the energy sector.

Photo source: ©Engineer BG via Canva.com