Published on: 13 March 2019

Industrial production increased by 4.4%

In January 2019, the volume of industrial output grew by 4.4% year-on-year. Based on working-day adjusted data production rose by 5.0%.

In January 2019:

The volume of industrial production increased by 4.4% year-on-year. (Compared to the January data of the first estimate, the data in the second estimate did not change.)

Industrial output – according to the seasonally and working-day adjusted index – was above the previous month’s level by 0.6%.

The volume of industrial export grew by 6.7% year-on-year. Within export sales in manufacturing, the 36% representing transport equipment export went up by 10.3%, while in the manufacture of computer, electronic and optical products, accounting for 15% of manufacturing export, the volume rose by 5.8%.

Industrial domestic sales increased by 8.7%, within it, domestic sales in manufacturing were 8.6% higher compared to the same month of the previous year.

Within industry, production grew by 3.7% in the decisive weight (94%) representing manufacturing, and it went up by 16.4% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) increased by 9.5%, mainly as a result of colder weather compared with the previous year (according to the Hungarian Meteorological Service the January 2019 average temperature was 3.6 (C lower than the January 2018 average).

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
2017104.6104.0102.9104.474.7
2018103.7103.4110.6100.972.6
2019January103.7106.4108.6105.674.5

The manufacture of transport equipment representing 29% of manufacturing output grew by 4.8% year-on-year. The manufacture of motor vehicles went up by 2.3%, while the manufacture of parts and accessories for motor vehicles rose by 5.3%.

The manufacture of computer, electronic and optical products accounting for 12% of manufacturing increased by 3.2%. Out of the two most significant groups the manufacture of communication equipment rose by 9.6%, the manufacture of consumer electronics went up by 3.4%.

The manufacture of food products, beverages and tobacco products providing 10% of manufacturing grew by 4.7% compared to the same month of the previous year. Out of the groups, the processing and preserving meat and the production of meat products representing the largest weight (26%) increased by 3.1%, while the manufacture of prepared animal feeds, giving the second largest weight, rose by 8.2%. Decreases were recorded in three groups, out of these the smallest weight carrying manufacture of tobacco products fell the most by 19.4%.

The manufacture of electrical equipment grew at the highest rate among the subsections, by 27% year-on-year, with increases measured in both sales directions.

Growth in medium-weight subsections did not reach the industrial average: the manufacture of rubber and plastics products, and other non-metallic mineral products went up by 3.1%, while the manufacture of basic metals and fabricated metal products rose by 3.7% compared to the same month of the previous year.

The manufacture of basic pharmaceutical products and pharmaceutical preparations representing small weight dropped by 3.4% year-on-year, first of all due to a very unfavourable tendency in domestic sales.

The manufacture of machinery and equipment n.e.c accounting for 5.6% of manufacturing declined the most by 9.5% primarily as a result of a significant decrease in the manufacture of engines and turbines, (except aircraft, vehicle and cycle engines) carrying the largest weight among the classes.

Changes in production in the major subsections of manufacturing, January 2019

(%)

Subsections Volume indices of production, corresponding period of the previous year = 100.0 Share of subsection within manufacturing at current prices
code denomination
CAManufacture of food products, beverages and tobacco products104.710.4
CGManufacture of rubber and plastics products, and other non-metallic mineral products103.18.8
CHManufacture of basic metals and fabricated metal products, except machinery and equipment103.78.5
CIManufacture of computer, electronic and optical products103.211.7
CKManufacture of machinery and equipment n.e.c.90.55.6
CLManufacture of transport equipment104.828.7

Out of the regions, the production fell only in Western Transdanubia, by 2.9%. The largest volume growth (10.0%) was recorded in Pest region; we measured volume increases of between 2.4 and 9.2% in all other regions.

Total new orders volume in the observed subsections of manufacturing rose by 4.6% compared to the January 2018 data. New domestic orders volume grew by 9.5%, new export orders went up by 3.9%. The volume of total stock of orders was above the level of January 2018 by 8.2%.