Industrial production decreased by 3.0%
In April 2017, the volume of industrial output declined by 3.0% year-on-year. Based on working-day adjusted data, the production grew by 2.5%. Compared to the raw data, this significant difference is mainly due to the fact that there were three fewer working days in April 2017 than a year earlier. In the first four months of 2017, production increased by 4.9%
In April 2017:
The volume of industrial production dropped by 3.0% year-on-year. (Compared to the data of April published in the first estimate, there was no change in the data of the second estimate.)
Industrial output in April – according to the seasonally and working-day adjusted index – was below the level of the previous month by 0.8%.
The volume of industrial export sales declined by 4.8% compared to the same period of the previous year. Within export sales in manufacturing, the exports of transport equipment, representing 36% fell by 11.2%. However, in the manufacture of computer, electronic and optical products – accounting for 16% of manufacturing exports –, the export volume increased by 4.8%.
Industrial domestic sales practically stagnated (+0.1%), within this, the domestic sales of manufacturing were 3.1% lower year-on-year.
Within industry, production declined by 3.4% in manufacturing representing a decisive weight (96%), while it grew by 23% in mining and quarrying having little weight and by 1.8% in energy industry (electricity, gas, steam and air-conditioning supply).
Changes in the production and sales of manufacturing
(%)
| Period | Production | Total | Domestic | Export | Share of export in sales at current prices | |
|---|---|---|---|---|---|---|
| sales | ||||||
| Volume index, corresponding period of previous year = 100.0 | ||||||
| 2015 | 108.0 | 108.2 | 106.7 | 108.7 | 74.9 | |
| 2016 | 101.4 | 101.4 | 101.7 | 101.3 | 75.1 | |
| 2017 | January | 106.4 | 106.3 | 102.3 | 107.6 | 77.0 |
| February | 102.7 | 99.9 | 95.7 | 101.2 | 77.0 | |
| March | 114.1 | 112.2 | 109.6 | 113.1 | 76.0 | |
| April | 96.6 | 95.1 | 96.9 | 94.5 | 74.4 | |
| From the beginning of the year | 104.8 | 103.3 | 101.1 | 103.9 | 76.1 | |
Compared to the previous months it also played a role in the less favourable performance of manufacturing that Easter holidays were in April this year and in March last year.
The production of transport equipment representing 29% of the manufacturing output dropped by 8.6%. There was a stronger fall in the manufacture of motor vehicles than in the manufacture of parts and accessories for motor vehicles. This lower performance level was also reflected in the orders indicators of the subsection.
The manufacture of computer, electronic and optical products accounting for 12% in manufacturing grew by 4.8% primarily due to the manufacture of consumer electronics, where the growth was 26%.
The manufacture of food products, beverages and tobacco products giving one tenth of manufacturing went up by 2.9%. Within this, the largest group (representing 25% of the subsection), the processing and preserving of meat and the production of meat products stayed at the level of the previous year, while the manufacture of vegetable and animal oils and fats grew the most by 38% year-on-year.
A smaller decline was observed in two subsections with medium weight: the manufacture of basic metals and fabricated metal products decreased by 0.5%, while the manufacture of rubber and plastics products, and other non-metallic mineral products dropped by 0.9%.
Decreases were almost the same in the manufacture of chemicals and chemical products (-4.9%), as well as that of electrical equipment (-4.7%), the production in the latter one continuously increased from September 2014 to March 2017.
The volume of the manufacture of textiles, wearing apparel, leather and related products having the smallest weight fell for the first time this year: the production declined by 3.3%, mainly as a result of a remarkable drop in domestic demand.
The manufacture of coke, and refined petroleum products fell at the highest rate of 12.3% year-on-year, owing to a decrease in both domestic and export sales.
Changes in production in the major subsections of manufacturing, April 2017
(%)
| Subsections | Volume indices of production, corresponding period of previous year = 100.0 | Share of subsection within manufacturing at current prices | |
|---|---|---|---|
| code | denomination | ||
| CA | Manufacture of food products, beverages and tobacco products | 102.9 | 10.1 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 99.1 | 8.0 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 99.5 | 8.0 |
| CI | Manufacture of computer, electronic and optical products | 104.8 | 12.3 |
| CK | Manufacture of machinery and equipment n.e.c. | 103.4 | 6.6 |
| CL | Manufacture of transport equipment | 91.4 | 28.9 |
Total new orders in the observed subsections of manufacturing fell by 8.0% compared to the same month of 2016. The volume of new export orders decreased by 7.7%, while that of new domestic orders declined by 9.3%. The volume of total stock of orders was below the level of April 2016 by 1.3%.
In January–April 2017, compared to the same period of the previous year:
Industrial production rose by 4.9%. The volume of export sales representing 65% of all sales grew 4.6%, while that of domestic sales accounting for 35% of all sales increased by 3.9%.
The labour productivity of industrial enterprises with 5 or more employees went up by 1.6% along with a 3.1% increase in the number of employees.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Northern Great Plain (7.0%), while the lowest in Central Hungary (2.4%).