Industrial production increased by 3.5%
In November 2020 the volume of industrial production surpassed the previous year’s level by 3.5% according to crude data. Based on working-day adjusted data production rose by 1.6%. According to seasonally and working-day adjusted data there was a 1.2% decrease compared to the previous month.
In November 2020:
The volume of industrial production increased by 3.5% compared to the same period of the previous year. (Compared to the November data published in the first estimate, the data in the second estimate did not change.)
Industrial output in November – according to seasonally and working-day adjusted indices – was 1.2% below the level of the previous month, however it grew by 63% compared to the nadir of April.
The volume of industrial export was above the previous year’s level by 8.9%. Transport equipment export, representing a 37% weight within export sales in manufacturing went up by 14.3%, while the export in manufacture of computer, electronic and optical products accounting for a 17% weight grew by 6.1%.
Industrial domestic sales rose by 1.1%, while domestic sales in manufacturing were 3.1% lower compared to the same month of the previous year.
Within industry, production increased by 3.7% in the decisive weight (96%) representing manufacturing, at the same time it fell by 16.8% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose by 13.6%, mainly due to the colder weather compared with the previous year (according to the Hungarian Meteorological Service the November 2020 average temperature was 3.5°C lower than the November 2019 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 | ||||||
| 2018 | 103.5 | 103.2 | 109.2 | 101.1 | 72.9 | |
| 2019 | 105.6 | 106.4 | 106.3 | 106.4 | 72.5 | |
| 2020 | January | 103.6 | 102.9 | 97.3 | 104.8 | 75.8 |
| February | 104.4 | 104.5 | 101.0 | 105.6 | 75.4 | |
| March | 94.4 | 93.3 | 99.5 | 91.1 | 72.8 | |
| April | 61.6 | 61.2 | 75.5 | 56.1 | 67.1 | |
| May | 68.3 | 70.4 | 76.4 | 68.2 | 71.4 | |
| June | 93.2 | 95.2 | 90.0 | 97.0 | 75.4 | |
| July | 92.1 | 92.9 | 88.8 | 94.6 | 73.1 | |
| August | 98.5 | 97.2 | 93.6 | 98.5 | 73.3 | |
| September | 103.3 | 103.5 | 98.7 | 105.1 | 75.6 | |
| October | 101.2 | 98.9 | 93.6 | 100.8 | 75.8 | |
| November | 103.7 | 105.6 | 96.9 | 108.8 | 75.7 | |
| From the beginning of the year | 93.1 | 93.3 | 91.8 | 93.8 | 74.1 | |
The largest weight carrying manufacture of transport equipment representing 30% of the manufacturing output exceeded by 7.4 % the previous year’s production. The volume of motor vehicles manufacturing increased by 5.7%, the manufacture of parts and accessories for motor vehicles went up by 9.9%.
The manufacture of computer, electronic and optical products accounting for 13% of manufacturing grew by 5,7%. Out of the two largest groups the more significant one, the manufacture of consumer electronics rose by 37%, while the smaller weight carrying one, the manufacture of electronic components and boards went up by 62%. At the same time the manufacture of communication equipment dropped by 80%.
The manufacture of food products, beverages and tobacco products having a 10% share in manufacturing lagged behind the previous year’s level by 1.0% with decreases measured in both sales directions. The processing and preserving meat and the production of meat products representing the largest weight (24%) declined by 4.1%, the manufacture of beverages, the second most significant group fell to the highest degree, by 15.2%. Out of the groups the processing and preserving of fish, crustaceans and molluscs having a very small weight grew the most, reaching an output close to three times larger than in the previous year; the manufacture of vegetable and animal oils and fats also increased significantly, by 26%.
The manufacture of electrical equipment grew at the highest rate among the subsections: by 27%, primarily due to the expansion in the manufacture of batteries and accumulators connected with the manufacture of transport equipment.
Following a four-month decrease the manufacture of machinery and equipment n.e.c rose by 7.3%, mainly owing to a remarkable increase in the manufacture of engines and turbines, except aircraft, vehicle and cycle engines.
The fall continued in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products declined by 2.9%, the manufacture of basic metals and fabricated metal products dropped by 6.8% year-on-year.
The manufacture of textiles, wearing apparel, leather and related products fell the most, by 8.9%, first of all as a result of a drop in manufacture of leather and related products.
Changes in production in the major subsections of manufacturing, November 2020
(%)
| Subsections | Volume indices of production, corresponding period of the previous year = 100.0 | Share of subsection within manufacturing at current prices | |
|---|---|---|---|
| code | denomination | ||
| CA | Manufacture of food products, beverages and tobacco products | 99.0 | 10.1 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 97.1 | 8.3 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 93.2 | 7.3 |
| CI | Manufacture of computer, electronic and optical products | 105.7 | 13.4 |
| CJ | Manufacture of electrical equipment | 127.4 | 7.1 |
| CL | Manufacture of transport equipment | 107.4 | 30.0 |
Industrial production decreased only in Southern Transdanubia (by 8.4%), Budapest (by 7.8%), and Central Transdanubia (by 2.6%). In the other regions volume increases between 2.1% and 16.3% were recorded, the highest one in the Northern Great Plain.
Total new orders volume in the observed divisions of manufacturing grew by 10.0% compared to November 2019. New domestic orders rose by 7.7%, new export orders went up by 10.4%. The total stock of orders at the end of November was above the previous year’s level by 6.5%.
In January–November 2020, compared to the same period of the previous year:
Industrial production dropped by 7.0%. The volume of export sales representing 65% of all sales fell by 6.6%, while domestic sales accounting for 35% of all sales declined 5.5% compared to the same period of the previous year.
Industrial production rose only in the Northern Great Plain (by 6.7%) and Pest region (by 0.3%), while in the other regions volume decreases between 4.5 % and 12.2% were recorded, the largest one in Western Transdanubia.