Local industry, the sector that represents almost a quarter of the Romanian economy, recorded an increase of 5.8% in January over the first month of 2016.

The growth was supported by the strong advance in the manufacturing sector, according to data published yesterday by the National Statistics Institute (INS).

The manufacturing industry has the most important share in the local industry. It increased by 6.5% in January over the same month in 2016.

The production and supply of energy went up by 3.7% year-on-year whereas the mining and quarrying continued its decline, recording an annual decrease of 7% in January. The statistics reflect the problems recorded for several years by the mining sector and the utility companies, largely controlled by the state. These sectors are undermined by the lack of reforms and weak competitiveness.

The turnover of the companies in industry increased by 9.1% in January compared to the same month last year, as industrial production prices also went up by 2.6% compared to January 2016. The capital goods industry supported the business, according to data published by the INS.

In December, the turnover of the companies in industry went up by 7.3% compared to the same month in 2015.

The new industrial orders also increased by 7.8% in the first month of this year compared to January 2016. The durable goods industry say the highest growth in order, namely 20.8%.

editor@romania-insider.com