Industrial Production increased by 12,1%, in nominal terms, returning to 2019 levels

– 2021

04 July 2022

Summary

According to the provisional results of the Annual Survey on Industrial Production (IAPI), in 2021, the total sales of products and services in the Manufacturing industries (Divisions 10 to 33, 35 and 38 of CAE Rev.3) increased by 12.1%, in nominal terms, totalling EUR 94.3 billion (-10.6% and EUR 84.2 billion in 2020). Compared to 2019, there was a slight increase of 0.2%.

Part of this variation is justified by the effect of price increases, given that the industrial production price index (IPPI) recorded a year-on-year increase of 8.7% in 2021.

The major contributions to the evolution of the total sales of products and services were identified in the activities of Manufacture of chemicals, chemical products and man-made fibres, except pharmaceutical products (Div.20), with +1.8 p.p., followed by Manufacture of basic metals (Div.24), with +1.5 p.p., and Manufacture of coke, refined petroleum products and fuels briquettes (Div.19), with +1.1 p.p.. According to the IPPI, these divisions are among those that recorded the highest price changes in industrial production in 2021 compared to 2020, highlighting the increases of 24.8% in Div. 20 and 19.6% in Div. 24.

The Division 10 – Manufacture of food products remained the division with the highest relative weight in the total sales of products and services (13.1% of total manufacturing industries), recording an increase of 4.3% over 2020 (+3.6% compared to 2019). It was followed by Division 29 – Manufacture of motor vehicles (weight of 9.9%; -0.5% compared to 2020) and Division 19 – Manufacture of coke, refined petroleum products and fuels briquettes (weight of 7.2%; +16.6% compared to 2020), which only reached 80% of the value recorded in 2019.

Among the main industrial products, Gas oils stood out, recording an increase of 4.2% (-25.2% in 2020) and representing 3.7% of the total sales of products (4.0% in 2020).

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