Romania’s industrial output down 1.6% y/y in 2024 despite small recovery in Q4

Romania’s industrial output index contracted by 1.6% y/y in 2024, after the 3.0% y/y contraction in 2023, despite the small (+0.4% y/y) advance seen in Q4 – the first positive quarterly performance since Q3 2022.

The sector of utilities dragged down the overall performance, both in the whole year 2024 (-4.7% y/y) and in Q4 (-3.1% y/y). However, the core manufacturing segment’s output declined significantly by 1.1% y/y in 2024, despite the +1.1% y/y performance in Q4.

Against the general negative trend, there are industries that performed well in 2024: food manufacturing (+6.7% y/y), chemistry (+8.7% y/y), oil refining (+7.7% y/y), paper manufacturing (+8.7% y/y), and the manufacturing of transport means other than automobiles (+12.4% y/y).

Despite the record number of automobiles produced, the sector’s industrial output contracted by 5.7% y/y.

The sectors that saw negative performances in 2024 were the light industries (-10% y/y to -20% y/y), manufacturing of electronic and optic equipment (-10.3% y/y), rubber and plastic manufacturing and processing (-5.3% y/y).

(Photo source: Silviu Matei/Dreamstime.com)