Malta - Industrial Production





Malta: Industrial Production

Mnemonic IP.IMLT
Unit Index 2015=100, SA
Adjustments Seasonally Adjusted
Monthly 4.53 %
Data Dec 2023 117.34
Nov 2023 112.25

Series Information

Source National Statistics Office (NSO) - Malta
Release Industrial Production Indices
Frequency Monthly
Start Date 1/31/2000
End Date 12/31/2023

Malta: Business

Reference Last Previous Units Frequency
Business Confidence Feb 2024 -37.9 -13.6 SA Monthly
Capacity Utilization 2023 Q4 84.1 69.4 %, SA Quarterly
Change in Inventories 2023 Q4 35,933 37,154 Ths. EUR, NSA Quarterly
Industrial Production Dec 2023 117.34 112.25 Index 2015=100, SA Monthly
Real Change in Inventories 2009 -14,743,020 40,522,741 NCU Annual

Release Information

The Maltese IPI is compiled by the National Statistics Office - Malta every month. The Industrial Production Indices is a monthly survey. The index monitors the changes in production in leading products from a sample of industrial enterprises. These sampled enterprises cover over 95% of total industrial production. Data is seasonally adjusted (SA). The current base year is 2015=100.

Active:

  • Classification: NACE Rev. 2
  • Measurement: Fixed-base index relative to 2015 (Index 2015=100)
  • Adjustment: Seasonally adjusted (SA)
  • Native frequency: Monthly
  • Start date: Uniformly 2000m1

Predecessors:

  • 2010=100 - 2000m1 to 2017m12 ("_10")
  • 2005=100 - 2005m1 to 2012m7

The source writes (citation): 

1. This Index of Industrial Production is a Principal European Economic Indicator (PEEI) and compiled in accordance with Commission Regulation (EU) 2019/2152 and Commission Implementing Regulation 2020/1197 of the European Parliament and of the Council on European Business Statistics. The NSO has also adopted methodologies and guidelines recommended by Eurostat and the United Nations.

2. The Maltese Index of Industrial Production is calculated using a Laspeyres-type index (2015=100). Aggregation weights are updated every five years and the gross value added is used as the weighting variable. The whole series is available from the year 2000 onwards.

3. The sample covers 80 per cent of the total industrial turnover and the number of surveyed businesses is around 200. A combination of cut-off and stratified random sampling techniques are used. The volume of industrial production is calculated using three methods: the physical quantities of output, the deflated turnover and the number of hours worked.

4. In this news release, Energy refers to NACE D35 only – Electricity, gas steam and air conditioning supply. It excludes B05 – mining of coal and lignite, B06 – extraction of crude petroleum and natural gas, C19 – manufacture of coke and refined petroleum products and E36 – water, collection, treatment and supply. The index excludes the electricity supply imported via the Malta-Sicily Interconnector.

5. Year-on-year comparisons refer to indices that are calendar adjusted while month-on-month comparisons refer to calendar and seasonally adjusted index numbers. These adjustments aid interpretation of data by removing regularly recurring variations from a time series. The officially recommended software JDemetra+ is used to adjust all series in this news release.

6. The calendar effect is the variation caused by the changing number of working/trading days, fixed and moving holidays, leap year and other calendar-related phenomena. The seasonal effect is the variation caused by any pattern that repeats on a regular basis in the same period each year.

7. The average weighted response rate for this indicator is around 80%. The data is to be considered as provisional and therefore subject to revision.

8. The aggregation weights (gross value added) of the various categories used for the calculation of the Index of Industrial Production for the year 2015 (base year) are as follows:

Weights for aggregates:

NACE Section NACE Divisions Description Share
    Total (sections B, C and D) 1.00
B   Mining and quarrying 0.00
C 13, 14, 25, 27, 28 and 31 to 33 Other manufacturing 0.31
  10 and 11

Food products and beverages

0.22
  26 and 29 Computer, electronic and optical products and motor vehicles 0.1
  22 to 23 Rubber, plastic products and other non-metallic mineral products 0.09
  16 to 18 Wood, paper products and printing 0.09

 

20 and 21 Chemicals and pharmaceuticals products 0.09
D 35 Energy 0.08

Definitions of main industrial groupings:

Title Description Example
Capital Goods Capital goods are physical assets used by businesses to produce consumer (final) goods Machinery equipment
Intermediate Goods Intermediate goods, also called semi-finished goods are products used as inputs to produce a consumer (final) good Rubber and plastic products
Consumer Goods Consumer goods, also called final goods are products that are readily available for consumption by consumers. These goods do not undergo further transformation in production Food products and beverages
Energy Energy refers to the production of electricity Electricity excluding supply imported via the Malta-Sicily Interconnector

Yes. Figures are to be considered as provisional and therefore subject to revision.

Further reading

At the source:

At IMF (SDDS):

  • 18 May 2023, Phillip Thorne - Two components terminated.