Report on World Manufacturing Production Q2 2017
UNIDO Statistics presents this report on the observed growth of world manufacturing production in the second quarter of 2017 and expected growth estimates of world manufacturing value added (MVA) for the year 2017. The quarterly growth estimates are based on the indices of industrial production. Reports on earlier quarters are available on UNIDO’s website.
- World manufacturing output is expected to rise by 3.2 percent in 2017 – the highest rate in last six years. The manufacturing output of industrialized economies is expected to increase by 1.8 percent in 2017. Developing and emerging industrial economies are likely to maintain higher manufacturing growth at a rate of 5.0 percent in 2017.
- Global manufacturing output rose by 4.2 per cent in the second quarter of 2017 compared to the same period of the previous year, building on the robust 3.7 per cent increase observed at the beginning of 2017. The manufacturing output growth was estimated at 2.7 per cent in industrialized economies, and 6.1 per cent in developing and emerging industrial economies.
- The upward growth trend of industrialized economies as a whole is attributable to the robust dynamics in all industrialized regions, namely manufacturing production expanded by 4.4 per cent in East Asia, by 2.7 per cent in Europe and by 1.6 per cent in North America.
- Latin American economies have overcome a severe decline in economic growth with a 1.8 per cent upsurge. Asian developing economies achieved a relatively higher growth rate at 6.6 per cent. According to UNIDO estimates, Africa’s manufacturing output increased to 10.5 per cent.
- Medium-high and high technology manufacturing industries repeatedly held top positions when looking at year-by-year developments – they witnessed a 5.3 per cent growth rate, a record-breaking result over the last five years.