Romania’s industrial output posted a disappointing 0.7% year-on-year advance in January while the annual growth rate in the core manufacturing sector was a mere 0.1% year-on-year, the National Statistics Institute (INS) informed on March 13.

The figures did not come exactly as a surprise after the foreign trade data released the day before showed only 1.6% year-on-year growth in exports.

The economic slowdown in Europe eventually hit the local industry, which had demonstrated outstanding resilience over the past quarters although certain slowdown was visible: the manufacturing output lost momentum to 2.4% year-on-year in the last quarter of 2018, from 4%-5% annual growth rates in the previous quarters.

In January, the transport means (car) production maintained a robust growth rate of 8.6% year-on-year, while the output of electric equipment rose as well by 7.9%. However, the light industries contracted by double-digit annual rates while the production of alcoholic drinks and tobacco also decreased by 4.9% and 8.5% on a yearly basis as well.

editor@romania-insider.com

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