Manufacturing turnover plummeting

Manufacturing turnover decreased by 16 percent in December 2008 compared with December 2007. Turnover on the export market was 20 percent down on one year previously and on the domestic market turnover dropped by 12 percent. The downturn in December is the most substantial one since the beginning of the time series in the early 1990s. Manufacturing output declined by 13 percent in November. 

December’s turnover decline is largely attributable to a decrease in turnover volume. Lower selling prices also had a negative effect on turnover. The number of working days and holidays in December 2008 was more favourable than in December 2007.

Food, drinks and tobacco retailers realised a 3 percent turnover growth in December. In other branches, turnover declined relative to December 2007. The sector petroleum, chemical products, rubber and plastics faced the largest turnover loss of 36 percent. Lower selling prices largely account for the decline.

Throughout 2008, manufacturers realised a turnover growth by 5 percent. Turnover on the export market was 4 percent higher. On the domestic market, a 7 percent turnover growth was achieved.

Manufacturing turnover