Stable turnover in the manufacturing industry despite lower production

11/02/2004 09:30

According to the latest figures by Statistics Netherlands, the turnover of the Dutch manufacturing industry in December 2003 was virtually the same as in December 2002. Production was down by 3 percent on December 2002.

Industrial turnover stable in December

Both domestic and international turnover in December 2003 equalled that of December 2002. One extra working day in December 2003 positively influenced total turnover. Statistics Netherlands estimates its positive effect at 3 percent. Selling prices on the other hand were down by 1 percent, while turnover volume per working day fell by about 2 percent. Most branches of industry had a higher turnover in December 2003 than in December 2002. The metal industry was the only one with less turnover.

Production lower

The Dutch manufacturing industry produced 3 percent less in December 2003 than in December 2002. In the previous four months production was 2 percent below the level of the corresonding months in 2002. The metal industry in particular saw its production drop in December 2003. The only industry among the other branches to produce more than in 2002 was the oil, chemicals and rubber industry. Compared to November seasonally corrected Dutch industrial production fell by 2 percent. This is the first decrease in production since August 2003.

Less turnover and production in 2003

In 2003 turnover was down by 1 percent on 2002, at a selling price that was on average almost 2 percent higher. Most branches of industry saw a drop in turnover. The metal industry was heaviest hit. Food, beverages and tobacco was the only industry to have the same turnover as in 2002. The only industry to have a higher turnover than in 2002 was oil, chemicals and rubber.

Production in 2003 ended up 2 percent lower than in 2002. This comes after the 2 percent production decrease the manufacturing industry already saw in 2002. Nearly all branches of industry saw a lower annual production rate, except the oil, chemicals and rubber industry that produced 3 percent more than in 2002. The paper and printing industry saw a major drop in production during the first six months of 2003.

PDF contains complete press release, including tables and graphics.