Manufacturing output jumps 40% in final part of 2022

Manufacturing output in three-month period between September and November last year jumped by a colossal 40.6 per cent when compared with the corresponding period of 2021, according to the Central Statistics Office (CSO)

The surge was driven by what the CSO classifies as the “Modern sector”, which includes the pharmaceutical, computer, electronic and medical instrumentation sectors.

The sector recorded a 43.8 per cent increase in industrial production from September to November 2022.

“The increase in industrial output largely reflects increases in export manufacturing activity and contract manufacturing in the multinational sectors,” the CSO said.

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It noted that external trade statistics in the first 10 months of 2022 show a similar upward trend with exports between January and October up by €39.4 billion (28.8 per cent) compared with the same period in 2021.

The corresponding increase for the “Traditional sector”, which includes farming, was 12.7 per cent.

The latest figures show that from September to November 2022, industrial production in manufacturing Industries increased by 14 per cent compared with the previous three-month period.