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Industrial Production and Turnover December 2022

Quarterly increase of 5.2% in Industrial Production

Online ISSN: 2009-5384

CSO statistical publication, 07 February 2023, 11am

Key Findings

In Quarter 4 (Q4) 2022, industrial production in Manufacturing Industries increased by 5.2% compared with the previous quarter.
On an annual basis, production in Manufacturing Industries was 26.3% greater in Q4 2022, than in Q4 2021.
Production in Manufacturing Industries increased by 2.8% in the calendar year 2022, compared with 2021.
The Modern sector, which includes the Pharmaceutical, Computer, Electronic and Medical Instrumentation sectors, recorded a 27.0% increase in Q4 2022, compared with Q4 2021. The corresponding increase for the Traditional sector was 15.5%.
The increase in industrial output largely reflects increases in export manufacturing activity and contract manufacturing in the multinational sectors. (See Statistician's Comment section below).
In Q4 2022, turnover in Manufacturing Industries increased by 6.7% compared with the previous quarter.

Statistician's Comment

The Central Statistics Office (CSO) has today (07 February 2023) published the Industrial Production and Turnover release for December 2022. Commenting on the release, Eamonn Cleary, Statistician in the Business Statistics Division, said: "In Quarter 4 (Q4) 2022, production in Manufacturing Industries increased by 5.2% compared with the previous quarter. (See Headline Table, Table 1 and Table 3b)

On an annual basis, production in Manufacturing Industries was 26.3% greater in the three months from October 2022 to December 2022, than in the same period of 2021. (See Table 3b)

Production in Manufacturing Industries increased by 2.8% in the calendar year 2022, compared with 2021. (See Table 1)

The Modern sector, which includes the Pharmaceutical, Computer, Electronic and Medical Instrumentation sectors, recorded a 27.0% increase in industrial production from October 2022 to December 2022, compared with the same period in 2021. The corresponding growth for the Traditional sector was 15.5%. (See Table 3b)

This rise in industrial output largely reflects increases in export manufacturing activity, as well as contract manufacturing in the multinational sectors. For instance, External Trade statistics in the first 11 months of 2022 have shown a similar general upward trend. Exports between January and November 2022 were up by €41.0 billion (26.9%) compared with the same period in 2021, with Medical & Pharmaceutical Products up by €16.7 billion (28.8%), Organic Chemicals by €10.3 billion (42.8%), Machinery & Transport Equipment, which includes ICT, rose by €2.7 billion (11.9%), and Food Products increased by €2.5 billion (22.2%). (See Goods Exports and Imports November 2022, Table 3)

Turnover in Manufacturing Industries was 6.7% greater in Q4 2022 than in the previous quarter. (See Headline Table, Table 4 and Table 5b)"

Note on Seasonal Adjustment

The figures from March 2020 onwards, i.e. from the start of the COVID-19 crisis, have been an exception to previous seasonal patterns and have highlighted the underlying volatility of the monthly Industrial Production and Turnover series. In response to this, throughout 2022 the CSO has conducted a review of its approach to seasonal adjustment in the IPT, and intends to implement a method of indirect seasonal adjustment, beginning with reference month January 2023, which is due for publication in March 2023. This will have the benefit of ensuring greater consistency across the indices published in the IPT release each month, as the aggregate series will be adjusted with reference to the component series. In addition to this, the CSO will continue to carefully examine the individual seasonal adjustment models on an ongoing basis.

Manufacturing Industries - Seasonally Adjusted and Unadjusted¹
(Base Year 2015 = 100)
	Seasonally Adjusted		Seasonally Unadjusted
Production Index		Turnover Index	Production Index	Turnover Index
December 2021	163.2	155.4	115.7	122.9
November 2022	166.5	165.6	201.1	178.5
December 2022	152.4	160.1	107.2	124.4
Monthly % change	-8.5	-3.3	-46.7	-30.3
Annual % change	-6.7	3.0	-7.3	1.2

Jul 2022 - Sep 2022	148.8	162.4	156.4	174.7
Oct 2022 - Dec 2022	156.5	173.3	172.0	177.8
% change	5.2	6.7	10.0	1.8
¹Figures may differ due to rounding.

Open in Excel: Industrial Production and Turnover December 2022 Headline Table (XLS 10KB)

Tables and Graphs

Table 1 Volume Indices of Production - Seasonally Adjusted

Table 1 Volume Indices of Production						Base Year: 2015=100
		Manufacturing Industries			Industries
		NACE 10 - 33			NACE 05 - 35
		Seasonally Adjusted Indices
Period		Index	% change on previous period	Annual % change	Index	% change on previous period	Annual % change
2019	Year	104.0		6.2	104.0		7.0
2020	Year	117.2		12.7	119.2		14.6
2021	Year	139.4		18.9	138.8		16.4
2022	Year	143.4		2.8	142.9		2.9

2020	1st quarter	106.9	-1.4	8.1	112.2	2.8	12.5
	2nd quarter	105.5	-1.3	7.0	110.8	-1.3	11.0
	3rd quarter	110.7	4.9	6.2	111.7	0.8	8.9
	4th quarter	147.7	33.4	36.1	144.8	29.6	32.6

2021	1st quarter	154.3	4.5	44.3	157.3	8.6	40.2
	2nd quarter	144.5	-6.4	36.9	146.2	-7.1	32.0
	3rd quarter	145.1	0.4	31.1	142.7	-2.4	27.7
	4th quarter	123.9	-14.6	-16.1	119.8	-16.0	-17.3

2022	1st quarter	130.9	5.6	-15.2	135.5	13.1	-13.9
	2nd quarter	134.4	2.7	-7.0	140.0	3.3	-4.3
	3rd quarter	148.8	10.7	2.5	144.9	3.5	1.6
	4th quarter¹	156.5	5.2	26.3	149.4	3.1	24.7

2020	December	170.7	1.0	77.2	166.2	1.0	70.7

2021	January	164.1	-3.9	53.7	160.4	-3.5	51.4
	February	156.7	-4.5	76.8	159.8	-0.3	64.5
	March	142.3	-9.2	13.4	151.7	-5.1	13.6
	April	167.8	18.0	47.8	156.9	3.4	44.7
	May	138.8	-17.3	45.7	142.5	-9.2	39.0
	June	126.8	-8.7	17.6	139.2	-2.4	14.7
	July	165.5	30.5	30.2	160.9	15.7	27.8
	August	141.2	-14.7	38.9	139.7	-13.2	31.8
	September	128.6	-8.9	24.5	127.4	-8.9	23.4
	October	94.6	-26.4	-8.4	91.9	-27.8	-11.4
	November	113.9	20.3	-32.6	111.4	21.1	-32.3
	December	163.2	43.3	-4.4	156.1	40.2	-6.0

2022	January	130.9	-19.8	-20.2	132.0	-15.5	-17.7
	February	130.9	0.1	-16.4	134.2	1.7	-16.0
	March	130.7	-0.2	-8.1	140.3	4.5	-7.5
	April	114.5	-12.4	-31.8	113.0	-19.5	-28.0
	May	139.5	21.8	0.5	144.7	28.1	1.5
	June	149.1	6.9	17.6	162.3	12.2	16.6
	July	122.9	-17.6	-25.8	123.8	-23.7	-23.1
	August	155.7	26.7	10.3	150.4	21.5	7.6
	September	167.7	7.7	30.4	160.7	6.9	26.1
	October	150.6	-10.2	59.1	143.8	-10.5	56.4
	November	166.5	10.6	46.2	159.1	10.6	42.8
	December¹	152.4	-8.5	-6.7	145.5	-8.5	-6.8
¹ Provisional data

Open in Excel: Industrial Production and Turnover December 2022 Table 1 (XLS 15KB)

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Table 1a Volume Indices of Production - Seasonally Unadjusted

Table 1a Volume Indices of Production						Base Year: 2015=100
		Manufacturing Industries			Industries
		NACE 10 - 33			NACE 05 - 35
		Seasonally Unadjusted Indices
Period		Index	% change on previous period	Annual % change	Index	% change on previous period	Annual % change
2019	Year	104.0		6.2	104.1		7.0
2020	Year	117.2		12.7	119.2		14.6
2021	Year	139.4		18.9	138.8		16.4
2022	Year	143.4		2.9	142.9		3.0

2020	1st quarter	101.3	-20.1	7.7	104.0	-17.7	10.7
	2nd quarter	95.4	-5.9	7.6	98.9	-4.9	10.4
	3rd quarter	114.1	19.6	7.1	116.2	17.5	9.2
	4th quarter	158.2	38.6	24.8	157.9	35.9	25.0

2021	1st quarter	146.9	-7.1	45.0	146.2	-7.4	40.6
	2nd quarter	132.5	-9.8	38.9	131.7	-9.9	33.2
	3rd quarter	149.8	13.1	31.3	148.3	12.6	27.7
	4th quarter	128.5	-14.2	-18.8	129.0	-13.0	-18.3

2022	1st quarter	123.7	-3.7	-15.8	124.3	-3.6	-15.0
	2nd quarter	121.5	-1.8	-8.3	122.0	-1.9	-7.4
	3rd quarter	156.4	28.7	4.4	154.2	26.4	4.0
	4th quarter¹	172.0	10.0	33.9	170.9	10.8	32.5

2020	December	125.4	-37.0	67.4	126.0	-36.2	64.2

2021	January	192.2	53.3	52.8	189.3	50.2	49.1
	February	127.4	-33.7	76.8	127.6	-32.6	67.4
	March	121.0	-5.0	14.1	121.6	-4.7	11.9
	April	172.7	42.8	46.6	170.6	40.4	43.0
	May	119.7	-30.7	47.9	119.2	-30.1	39.2
	June	105.1	-12.2	20.3	105.2	-11.7	14.8
	July	171.1	62.8	31.0	167.8	59.5	26.2
	August	115.0	-32.8	39.0	114.7	-31.6	33.7
	September	163.3	41.9	26.6	162.4	41.5	25.1
	October	133.5	-19.9	-12.7	133.7	-19.1	-12.5
	November	136.4	2.2	-31.5	137.0	2.5	-30.6
	December	115.7	-15.2	-7.8	116.4	-15.0	-7.7

2022	January	152.8	32.1	-20.5	152.9	31.4	-19.2
	February	107.1	-29.9	-15.9	108.4	-29.1	-15.1
	March	111.2	3.8	-8.1	111.6	3.0	-8.2
	April	117.1	5.3	-32.2	117.7	5.5	-31.0
	May	121.7	3.9	1.7	122.9	4.4	3.1
	June	125.5	3.1	19.4	125.6	2.2	19.4
	July	127.7	1.8	-25.4	126.7	0.9	-24.5
	August	126.7	-0.8	10.1	125.5	-0.9	9.4
	September	214.7	69.5	31.5	210.4	67.6	29.5
	October	207.7	-3.3	55.6	205.9	-2.1	54.0
	November	201.1	-3.2	47.4	199.4	-3.2	45.5
	December¹	107.2	-46.7	-7.3	107.3	-46.2	-7.8
¹ Provisional data

Open in Excel: Industrial Production and Turnover December 2022 Table 1a (XLS 15KB)

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Table 2 Volume Indices of Production for Modern and Traditional Sectors

Table 2 Volume Indices of Production for "Modern"²and "Traditional"² Sectors						Base Year: 2015=100
		Modern Sector			Traditional (All Other Sectors)
		Seasonally Adjusted Indices
Period		Index	% change on previous period	Annual % change	Index	% change on previous period	Annual % change
2019	Year	103.5		7.4	106.2		5.5
2020	Year	120.8		16.8	113.2		6.7
2021	Year	144.8		19.8	116.4		2.8
2022	Year	145.6		0.6	132.5		13.8

2020	1st quarter	111.5	5.6	11.7	118.0	9.7	11.5
	2nd quarter	110.1	-1.3	12.8	102.5	-13.2	-2.2
	3rd quarter	116.4	5.7	11.2	116.1	13.2	8.3
	4th quarter	148.7	27.8	40.9	116.7	0.6	8.4

2021	1st quarter	169.2	13.8	51.8	109.6	-6.1	-7.2
	2nd quarter	151.0	-10.8	37.1	119.5	9.1	16.6
	3rd quarter	158.9	5.3	36.6	114.9	-3.8	-1.0
	4th quarter	118.0	-25.8	-20.7	122.0	6.1	4.5

2022	1st quarter	133.8	13.4	-20.9	130.1	6.6	18.7
	2nd quarter	140.8	5.2	-6.8	127.5	-2.0	6.7
	3rd quarter	155.3	10.3	-2.3	132.5	3.9	15.3
	4th quarter¹	149.8	-3.6	27.0	140.8	6.3	15.5

2020	December	172.3	1.1	88.3	124.5	11.6	12.4

2021	January	167.0	-3.1	63.3	109.8	-11.8	-9.0
	February	175.8	5.3	92.9	110.0	0.2	-2.2
	March	165.0	-6.1	16.8	108.9	-1.0	-10.0
	April	167.0	1.2	49.4	122.0	12.0	23.4
	May	154.0	-7.7	45.7	115.6	-5.2	20.4
	June	132.0	-14.3	16.9	120.9	4.6	7.5
	July	193.5	46.7	36.3	113.8	-5.9	-5.4
	August	151.0	-22.0	43.8	112.3	-1.4	0.0
	September	132.3	-12.4	29.4	118.6	5.7	2.6
	October	91.1	-31.1	-12.0	118.9	0.3	4.3
	November	103.8	14.0	-39.1	126.6	6.5	13.5
	December	159.0	53.2	-7.7	120.3	-5.0	-3.4

2022	January	126.1	-20.7	-24.5	130.5	8.4	18.8
	February	134.2	6.4	-23.6	132.4	1.5	20.3
	March	141.1	5.2	-14.5	127.3	-3.9	16.9
	April	110.3	-21.9	-33.9	125.3	-1.6	2.7
	May	151.2	37.1	-1.8	134.0	7.0	15.9
	June	160.8	6.4	21.9	123.2	-8.0	1.9
	July	135.5	-15.7	-30.0	133.4	8.2	17.2
	August	158.1	16.6	4.7	137.4	3.1	22.4
	September	172.3	9.0	30.3	126.6	-7.9	6.7
	October	150.5	-12.7	65.2	142.7	12.7	20.0
	November	157.4	4.6	51.7	141.6	-0.8	11.8
	December¹	141.4	-10.2	-11.1	138.2	-2.4	14.9
¹Provisional data
²See Background notes for detailed breakdown

Open in Excel: Industrial Production and Turnover December 2022 Table 2 (XLS 15KB)

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Table 3a Volume Indices of Production for Industrial Sectors - Provisional Results December 2022

Table 3b Volume Indices of Production for Industrial Sectors 3 monthly - Provisional Results

Table 3c Volume Indices of Production for Industrial Sectors - Final Results November 2022

Table 4 Industrial Turnover Indices - Seasonally Adjusted

Table 4 Industrial Turnover Indices						Base Year: 2015=100
		Manufacturing Industries			Transportable Goods Industries²
		NACE 10 - 33			NACE 05 - 33
		Seasonally Adjusted Indices
Period		Index	% change on previous period	Annual % change	Index	% change on previous period	Annual % change
2019	Year	99.9		1.8	100.2		1.6
2020	Year	101.8		1.9	102.1		2.0
2021	Year	126.4		24.2	126.9		24.3
2022	Year	156.2		23.5	156.9		23.6

2020	1st quarter	103.1	-1.2	2.5	103.3	-1.1	2.3
	2nd quarter	102.1	-0.9	5.2	102.4	-0.8	5.2
	3rd quarter	95.4	-6.6	-1.3	95.8	-6.5	-1.1
	4th quarter	109.4	14.7	4.8	109.8	14.6	5.0

2021	1st quarter	119.5	9.3	16.0	119.8	9.2	16.0
	2nd quarter	124.3	4.0	21.7	124.9	4.2	21.9
	3rd quarter	129.9	4.5	36.2	130.4	4.4	36.1
	4th quarter	134.5	3.6	23.0	135.0	3.5	23.0

2022	1st quarter	135.9	1.0	13.7	136.8	1.3	14.1
	2nd quarter	150.3	10.6	20.9	151.1	10.5	21.0
	3rd quarter	162.4	8.1	25.1	163.0	7.9	25.0
	4th quarter¹	173.3	6.7	28.8	173.7	6.6	28.7

2020	December¹	110.4	-9.6	16.6	110.8	-9.6	16.7

2021	January	116.8	5.8	14.1	117.0	5.6	14.1
	February	125.5	7.5	49.4	125.9	7.5	49.2
	March	116.3	-7.4	-5.4	116.6	-7.3	-5.2
	April	133.5	14.8	27.4	134.2	15.1	28.2
	May	126.3	-5.3	32.8	126.8	-5.5	32.7
	June	113.1	-10.5	6.2	113.6	-10.4	6.1
	July	131.0	15.8	20.3	131.3	15.5	20.1
	August	132.0	0.7	33.6	132.6	1.0	33.6
	September	126.6	-4.1	61.6	127.3	-4.0	61.3
	October	117.2	-7.4	22.5	117.5	-7.7	22.4
	November	130.9	11.7	7.2	131.6	12.0	7.4
	December	155.4	18.7	40.8	155.9	18.5	40.7

2022	January	134.9	-13.2	15.5	135.6	-13.0	15.9
	February	132.4	-1.8	5.5	133.2	-1.8	5.8
	March	140.5	6.1	20.8	141.5	6.2	21.3
	April	132.5	-5.6	-0.7	133.5	-5.7	-0.6
	May	158.1	19.3	25.1	158.9	19.1	25.3
	June	160.2	1.3	41.6	160.8	1.2	41.5
	July	143.5	-10.4	9.5	143.9	-10.5	9.6
	August	168.6	17.5	27.8	169.3	17.7	27.7
	September	175.2	3.9	38.4	175.9	3.9	38.2
	October	194.2	10.9	65.6	194.3	10.5	65.4
	November	165.6	-14.7	26.5	166.2	-14.5	26.3
	December¹	160.1	-3.3	3.0	160.7	-3.3	3.1
¹Provisional data
² See Background notes for detailed breakdown

Open in Excel: Industrial Production and Turnover December 2022 Table 4 (XLS 15KB)

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Table 4a Industrial Turnover Indices - Seasonally Unadjusted

Table 4a Industrial Turnover Indices						Base Year: 2015=100
		Manufacturing Industries			Transportable Goods Industries²
		NACE 10 - 33			NACE 05 - 33
		Seasonally Unadjusted Indices
Period		Index	% change on previous period	Annual % change	Index	% change on previous period	Annual % change
2019	Year	99.9		1.8	100.2		1.6
2020	Year	101.8		1.9	102.1		2.0
2021	Year	126.5		24.3	126.9		24.2
2022	Year	156.2		23.5	156.9		23.6

2020	1st quarter	100.1	-9.5	3.0	100.2	-9.5	2.9
	2nd quarter	95.1	-4.9	4.6	95.4	-4.8	4.6
	3rd quarter	99.5	4.5	-1.5	100.0	4.8	-1.2
	4th quarter	112.5	13.2	1.8	112.9	13.0	2.0

2021	1st quarter	116.5	3.6	16.5	116.7	3.4	16.4
	2nd quarter	116.4	-0.1	22.4	117.0	0.2	22.6
	3rd quarter	138.3	18.8	39.0	138.8	18.6	38.9
	4th quarter	134.6	-2.6	19.6	135.1	-2.7	19.7

2022	1st quarter	132.7	-1.4	13.9	133.4	-1.3	14.3
	2nd quarter	140.0	5.5	20.3	140.4	5.2	20.0
	3rd quarter	174.7	24.8	26.4	175.4	24.9	26.4
	4th quarter¹	177.8	1.8	32.1	178.3	1.7	32.0

2020	December	90.4	-32.8	11.5	90.7	-32.7	11.6

2021	January	135.1	49.4	15.5	135.1	48.9	15.3
	February	114.3	-15.4	50.5	114.5	-15.3	50.3
	March	100.1	-12.4	-6.6	100.6	-12.1	-6.3
	April	138.8	38.6	26.3	139.5	38.7	27.1
	May	113.3	-18.4	34.1	113.7	-18.4	34.0
	June	97.2	-14.2	6.8	97.8	-14.0	6.7
	July	139.5	43.6	20.4	139.9	43.0	20.2
	August	112.0	-19.7	34.3	112.7	-19.4	34.3
	September	163.2	45.6	64.8	163.9	45.4	64.5
	October	138.5	-15.1	31.6	139.0	-15.2	31.6
	November	142.4	2.8	5.9	143.0	2.9	6.1
	December	122.9	-13.7	36.0	123.3	-13.8	35.9

2022	January	157.0	27.7	16.2	157.4	27.7	16.5
	February	121.3	-22.7	6.1	121.8	-22.6	6.4
	March	119.9	-1.2	19.7	120.9	-0.7	20.2
	April	137.3	14.5	-1.1	138.2	14.3	-0.9
	May	143.4	4.4	26.6	144.2	4.3	26.8
	June	138.0	-3.8	42.0	138.7	-3.8	41.8
	July	152.4	10.4	9.2	152.9	10.2	9.3
	August	143.8	-5.6	28.4	144.6	-5.4	28.3
	September	227.9	58.5	39.7	228.5	58.0	39.4
	October	230.6	1.2	66.5	231.1	1.1	66.3
	November	178.5	-22.6	25.4	179.0	-22.5	25.2
	December¹	124.4	-30.3	1.2	124.8	-30.3	1.2
¹Provisional data
² See Background notes for detailed breakdown

Open in Excel: Industrial Production and Turnover December 2022 Table 4a (XLS 15KB)

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Table 5a Turnover Indices for Industrial Sectors - Provisional Results December 2022

Table 5b Turnover Indices for Industrial Sectors 3 monthly - Provisional Results

Table 5c Turnover Indices for Industrial Sectors - Final Results November 2022

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Industrial Production and Turnover December 2022