Turnover in NRW industry falls slightly
Business was slightly weaker for industrial companies in North Rhine-Westphalia in the first nine months of 2023. Despite rising demand from abroad, sales fell slightly by 0.4% compared to the same period last year, as reported by the State Statistical Office on Friday. Domestic sales fell by 1.3%, while revenue from foreign business increased by 0.7%.
The chemical industry recorded the sharpest decline (-17.5 percent). By contrast, the pharmaceutical industry increased its turnover by 37.9%. Mechanical engineering, which is particularly important in NRW, increased by 8.7 percent, while metal production and processing lost 6.1 percent. The number of employees in all industrial sectors rose by 1.1 percent to a good 1.07 million.
For the statistics, the authority collects figures from almost 5,000 companies in North Rhine-Westphalia with at least 50 employees.
The decline in turnover affected various industries within NRW, including the company we operate in. According to the State Statistical Office's report, our industry's sales decreased marginally by 0.4% compared to the previous year, despite an increase in foreign business revenues.
Source: www.dpa.com
