World manufacturing production expected to rise in 2013 as recovery begins in Europe, says UNIDO report
VIENNA, 5 September 2013 - World manufacturing production is expected to grow in 2013 as major European economies have stopped or reversed the recent trend of declining industrial production, according to the latest report on world manufacturing growth statistics published by the United Nations Industrial Development Organization (UNIDO).
For the first time since the start of the current recession, industrialized regions of East Asia, North America and Europe, together with developing and emerging industrial economies, are simultaneously on a growth path. According to UNIDO estimates, global manufacturing output is expected to grow by 2.7 per cent in 2013.
Some visible signs of recovery have now been observed in Europe, although the current pace of growth is fragile according to the UNIDO report. The manufacturing output rose by 1.5 per cent in France, 2.6 per cent in Germany and 0.7 in the United Kingdom.
Signs of growth were also seen in European countries where the recession had been particularly severe. In comparison with the first quarter of 2013, manufacturing output in Greece grew by 12.8 per cent, in Portugal by 2.3 per cent and in Spain by 0.6 percent. However, Cyprus’ manufacturing output fell sharply in the second quarter due to recent financial instability.
Developing and emerging industrial economies maintained relatively higher growth of 7.1 per cent in the second quarter, mainly as a result of growth in China. Manufacturing output in other major emerging economies, such as Brazil, Mexico and Turkey, grew at a slower pace.
Manufacturing growth remained sluggish in India, Asia’s other major emerging industrial economy. The recent plunge of the Indian currency to a record low has upset manufacturing industries which have suffered from a further rise in imported input prices and a consequent increase in the cost of production. By contrast, Indonesia showed a strong growth performance with a rate of 6.6 per cent.
Estimates based on limited data indicated that the industrial growth rate of African countries was relatively low. The manufacturing output of South Africa, the continent’s largest manufacturer, rose by 2.2 per cent, while, growth in Morocco was 1.6 percent, and in Tunisia 2.5 per cent. In Egypt, manufacturing output dropped amid political instability.
The manufacturing output of Latin America grew by 2.1 per cent in the second quarter. According to UNIDO estimates, the manufacturing output of Argentina grew by 3.6 per cent, Brazil by 3.8 per cent, Colombia by 2.0 per cent, and Peru by 1.4 per cent.
UNIDO’s quarterly report presents the latest estimates of world industrial growth by country groups and by manufacturing sector. The current report contains the growth estimates for the second quarter, as well as expected growth rate for the entire year of 2013. Quarterly growth rates are based on seasonally adjusted data.
The full report is available here
UNIDO maintains an international industrial statistical database in accordance with the mandate of the United Nations Statistics Commission. Data is disseminated through publications, CD products and an online web-portal.
For more information, please contact:
UNIDO Chief Statistician