Romania’s industrial output plunges by 6% y/y in Q2

Romania’s industrial output contracted by 5.9% y/y in Q2 (-6.0% y/y in core manufacturing industries), posting the steepest annual decline since the 2020 lockdown, according to data published by the statistics office INS.

Compared to Q2 in 2019 before the Covid-19 crisis, Romania’s Q2 industrial output was 9.8% smaller this year (9.5% smaller for the core manufacturing industries).

Very few industries gained ground over the past four years: computer and electronics (+30.3%), food manufacturing (+5.2%) and tobacco processing (+4.3%) and the production of other means of transportation (such as rolling stock) are the most important of them.

The automobile industry posts a 10.5% decline compared to 2019, despite the 4.9% y/y advance. Metallurgy lost 23% of its activity (-10% y/y compared to 2022), and the oil refineries 21% (-17% y/y) compared to 2019.

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