Global manufacturing gains momentum despite uncertainties.

 

This report presents observed growth rates and estimates of world manufacturing production for the fourth quarter of 2024, as well as revised estimates for the third quarter of 2024. The figures are based on indices of industrial production (IIP) collected by UNIDO Statistics from national data sources. Currently, quarterly IIPs are available for 119 countries, corresponding to 97.3 per cent of global manufacturing value added (MVA). As shown in Figure B.1, major data gaps are still present, mostly in Africa and some subregions of Asia and Oceania. These estimates are replaced as soon as the officially reported values become available in national statistical publications.

The present report implements revision 4 of the International Standard for Industrial Classification of All Economic Activities. InternationalStandard Industrial Classification ofAll Economic Activities (ISIC), Rev.4. United Nations, 2008, p. 308. (ISIC Rev.4). For countries that publish monthly/quarterly indices based on ISIC Rev.4, national data are used in their original form. For countries that still produce index numbers based on ISIC Rev.3, growth figures are estimated at the two-digit level of Rev.4 using correspondence tables. In both cases, data on index numbers are derived from national statistical sources. In case of missing data, UNIDO conducts imputations.

This report refers to country groups in terms of economic territories rather than political boundaries. Economies are classified according to a combination of their stage of industrialization (industrial or
industrializing) and income level (high income, middle income and low income). This classification is particularly useful for presenting growth estimates by country aggregates at different levels of structural transformation. In addition, the report includes information on the group of emerging industrial economies, which includes the most dynamic low- and middle-income economies within both industrial
and industrializing economies. Finally, regional groups based on the M49 classification are also presented. A comparative picture of growth trends in different parts of the world is provided based on these country groups. The methodology and full list of economies in the country groupings is available in the UNIDO Country Classification Edition 2025 report

Growth rates are calculated from the national index numbers aggregated to the given country group or geographical region using weights based on the countries’ contribution to world MVA. Since the first quarter of 2020, the base year has been adjusted to 2015 in accordance with other UNIDO publications. Users can find further information on the methodology of index numbers, estimation procedures and a compilation of country groups’ indices in a methodological document that is available on the statistical pages of UNIDO’s website. The indices themselves are published in UNIDO’s IIP database, available on the UNIDO Statistics Portal

Quarterly Report, Q4 2024 - World Manufacturing Production

 Global manufacturing gains momentum despite uncertaintie