According to data revealed by Eurostat on Monday, Malta’s industrial production was amongst the hardest hit in the EU in December.
According to the Eurostat report, which compiles data for industrial production across the EU, Malta’s industrial production declined by 4.3 per cent in December on the same period in 2019, against 1.2 per cent across the EU.
Belgium’s industrial production was the worst hit, falling 4.6 per cent in comparison to December 2019.
On the other hand, Slovakia and Poland saw the most dramatic increases in production, as their production increased by 6.8 per cent and 6.1 per cent respectively when compared to December 2019.
By sector, production of non-durable consumer goods decreased the hardest, falling 3.1 per cent on the December 2019 figure, whereas durable consumer goods and intermediate goods production rose by 4.2 per cent and 4.4 per cent respectively.
December seems to have been a generally disappointing month in an otherwise relatively promising year for Maltese industry. It was the only EU country to record decreased industrial producer prices in December.
However, Eurostat’s data for Malta has drawn criticism in recent weeks.
Its report that Malta’s December retail trade volume actually increased in December 2020 over 2019 was met with derision in some quarters, with Malta’s Chamber of SME’s calling the report illogical.
For its part the NSO, which provides Malta’s data, has reemphasised the accuracy of its statistics, telling BusinessNow.mt, that its “methodological framework, statistical processes and output are all in tune with Eurostat’s recommendations and guidelines”.
Package expected to bring 'significant changes' to the rules for many financial products and services
Changes to the existing Key Employee Initiative scheme were also announced
Six-tenant limit was introduced in 2014, update of rent law simply a way to enforce it