Industrial production increased by 6.2%
In July 2018 the volume of industrial output grew by 6.2% year-on-year. Based on working-day adjusted data production rose by 3.9%.
In July 2018:
The volume of industrial production increased by 6.2% year-on-year. (Compared to the July data published in the first estimate there is no change in the data of the second estimate.)
Industrial output – according to the seasonally and working-day adjusted index – was below the previous month’s level by 2.0%.
The volume of industrial export grew by 3.9% year-on-year. Within export sales in manufacturing, the 33% representing transport equipment export dropped by 6.1%, however in the manufacture of computer, electronic and optical products, accounting for 15% of manufacturing export, volume increased by 17.2%.
Industrial domestic sales rose by 8.3%, within this, the domestic sales of manufacturing were 12.4% higher compared to the same month of the previous year.
Within industry, production grew by 6.5% in the decisive weight (96%) representing manufacturing, while it went up by 62% in the small weight representing mining and quarrying. The output of the energy industry (electricity, gas, steam and air-conditioning supply) decreased by 2.8%.
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 | ||||||
| 2016 | 101.4 | 101.4 | 101.8 | 101.3 | 75.1 | |
| 2017 | 104.6 | 104.0 | 102.9 | 104.4 | 74.7 | |
| 2018 | January | 109.0 | 108.9 | 116.8 | 106.5 | 75.1 |
| February | 104.0 | 103.8 | 114.5 | 100.7 | 74.8 | |
| March | 98.1 | 98.1 | 103.4 | 96.3 | 74.3 | |
| April | 107.9 | 108.8 | 112.2 | 107.6 | 73.4 | |
| May | 100.7 | 99.7 | 107.4 | 97.1 | 72.8 | |
| June | 104.3 | 103.8 | 107.6 | 102.5 | 73.8 | |
| July | 106.5 | 106.5 | 112.4 | 104.4 | 71.5 | |
| From the beginning of the year | 104.1 | 104.0 | 110.2 | 101.9 | 73.7 | |
The manufacture of transport equipment representing one-quarter of manufacturing output declined by 6.4% year-on-year. The manufacture of parts and accessories for motor vehicles went up by 5.7%, whereas the manufacture of motor vehicles fell by 19.7%.
The manufacture of computer, electronic and optical products giving 12% of manufacturing rose by 16.8%. Out of the two most significant groups the manufacture of communication equipment increased outstandingly by 79%, while the manufacture of electronic components and boards grew by 7.3%.
The manufacture of food products, beverages and tobacco products accounting for 11% of manufacturing went up by 5.8% compared to the same month of the previous year, due to an increase in both domestic and export demand. Out of the groups, the largest weight (25%) representing one: the processing and preserving meat and the production of meat products rose by 12.5%. Decreases were recorded in two groups only: in processing and preserving of fruit and vegetables (6.0%), and in the manufacture of dairy products (2.2%).
Out of the subsections the manufacture of coke, and refined petroleum products grew the most (by 30%) compared to the production level of the previous year, the low base effect also contributed to this result.
The other two subsections in the chemical industry showed a good performance as well: the manufacture of chemicals and chemical products rose by 10.9%, while the manufacture of pharmaceutical products and pharmaceutical preparations went up by 10%
The increase of production continued in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products grew by 18.5%, while the manufacture of basic metals and fabricated metal products went up by 12.7% year-on-year.
The decline has been lasting for six months in the manufacture of machinery and equipment n.e.c accounting for 5.7% of the manufacturing: output dropped by 9.7% in July year-on-year, primarily as a result of a significant fall in the manufacture of engines and turbines, except aircraft, vehicle and cycle engines - this having the largest weight among the classes.
Changes in production in the major subsections of manufacturing, July 2018
(%)
| 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 | 105.8 | 11.2 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 118.5 | 9.4 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 112.7 | 9.5 |
| CI | Manufacture of computer, electronic and optical products | 116.8 | 11.5 |
| CK | Manufacture of machinery and equipment n.e.c. | 90.3 | 5.7 |
| CL | Manufacture of transport equipment | 93.6 | 25.1 |
Alongside a 3.5% increase in the number of employees, the labour productivity of industrial enterprises with 5 or more employees was 2.7% higher in July than in the same month of the previous year.
Industrial output declined year-on-year in one region only: in Central Transdanubia (by 3.0%). The highest growth was observed in Pest region (16.3%), whereas in the other regions volume increases between 1.7% and 14.2% were measured.
Total new orders volume in the observed subsections of manufacturing grew by 12% compared to the July 2017 data. New domestic orders volume grew by 15.4%, while new export orders went up by 11.4%. The volume of total stock of orders was below the level of July 2017 by 1.1%.
In January–July 2018, compared to the same period of the previous year:
Industrial production rose by 3.9%. The volume of export sales representing 64% of all sales went up by 1.9%, while that of domestic sales accounting for 36% of all sales grew by 6.1%.
The labour productivity of industrial enterprises with 5 or more employees rose by 0.2% along with a 3.6% increase in the number of employees
Industrial production rose in every region of Hungary; the largest volume growth was measured in Pest region (9.3%), while the lowest occurred in Western Transdanubia (1.4%).