Malta is experiencing a significant surge in the production of chemical and pharmaceutical products, as the country’s manufacturing industry continues its upswing in industrial output.
The index of industrial production (IIP) is a business cycle indicator which provides an early measure of change in the volume of industrial output produced by domestic businesses in the manufacturing, energy, and quarrying sectors in Malta.
In April 2023, the IIP grew by 14.3 per cent year-on-year, or 10.6 per cent when excluding energy. Manufacturing output grew by 10.3 per cent.
The largest upward trend was registered in the production of chemical and pharmaceutical products (54.4 per cent), followed by the production of computer, electronic and optical products and motor vehicles (14.9 per cent) and the production of food products and beverages (11.2 per cent).
However, a contraction was once again registered in the production of rubber, plastic, and other non-metallic mineral products (4.1 per cent).
In April, the production of energy, consumer goods and capital goods increased by 31.9 per cent, 20.3 per cent and 4.3 per cent respectively.
When adjusting for seasonal effects, production for April stood at 112.6 index points (100 = 2015), a decrease of 2.5 per cent when compared to the previous month, which was a 10-year high.
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