Industrial Production in the European Union Decline Significantly

Industrial Production in the European Union Decline Significantly

Industrial production in the European Union (EU) suffered a serious drop of 27.2 percent compared to April last year, when corona virus outbreak measures, which affected the world and hit the economy heavily, were highly implemented. The European Statistical Office (Eurostat) has released industrial production statistics in the European Union and the Eurozone in April. Looking at the statistics, the industrial production within the Eurozone, which has 19 members, decreased by 17.1 percent in April compared to March, and decreased by 28 percent compared to April data of 2019. Industrial production in the European Union contracted by 17.3 percent in April compared to March, and decreased by 27.2 percent compared to the same time of 2019. At the time, the country with the highest decrease in industrial production on a monthly basis among the European Union countries was Hungary with 30.5 percent, followed by Romania with 27.7 percent and Slovakia with 26.7 percent. On a yearly basis, the country with the highest decrease in industrial production was Luxembourg with 43.9 percent, Italy with 42.5 percent and Slovakia with 42 percent followed.