Industrial production increased by 6.8%
In August 2017, the volume of industrial output was 6.8% higher than a year earlier based on both working days adjusted and non-adjusted indices. Output went up by 5.1% in the first eight months of 2017 compared to the same period of the previous year.
In August 2017:
The volume of industrial production rose by 6.8% year-on-year. (Compared to the data of August published in the first estimate, there was no change in the data of the second estimate.)
Industrial output – according to the seasonally and working-day adjusted index – was above the level of the previous month by 5.5%.
The volume of industrial export sales increased by 9.1% compared to the same period of the previous year. Within export sales in manufacturing, the exports of transport equipment representing 35% rose by 6.1%. In the manufacture of computer, electronic and optical products – accounting for 16% of manufacturing exports –, the export volume went up by 10.5%.
Industrial domestic sales grew by 4.5%, within this, the domestic sales of manufacturing were 4.3% higher year-on-year.
Out of the sections of industry, production rose by 6.8% in manufacturing representing a decisive weight (96%) and by 38% in mining and quarrying having little weight. The output of energy industry (electricity, gas, steam and air-conditioning supply) decreased by 1.6%.
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 | 101.8 | 101.3 | 75.1 | |
| 2017 | January | 106.8 | 106.4 | 102.4 | 107.6 | 77.0 |
| February | 102.9 | 100.0 | 95.9 | 101.3 | 77.0 | |
| March | 114.3 | 112.4 | 109.5 | 113.3 | 76.0 | |
| April | 96.8 | 95.2 | 96.7 | 94.7 | 74.5 | |
| May | 108.8 | 110.4 | 106.6 | 111.7 | 75.1 | |
| June | 103.9 | 104.0 | 103.6 | 104.2 | 75.2 | |
| July | 100.3 | 100.7 | 102.2 | 100.2 | 73.3 | |
| August | 106.8 | 106.9 | 104.3 | 107.9 | 73.0 | |
| From the beginning of the year | 105.0 | 104.5 | 102.7 | 105.1 | 75.1 | |
Compared to the previous month's decline, the production of transport equipment representing 27% of manufacturing output increased year-on-year by 5.0%. It also played a role in the growth that the summer stoppage was now in a different period than in the base year. The manufacture of parts and accessories for motor vehicles went up by 9.5%, while the manufacture of motor vehicles practically stagnated.
The manufacture of computer, electronic and optical products accounting for 12% of manufacturing rose by 9.0%, within this the manufacture of consumer electronics having the largest weight grew the most by 21%.
The manufacture of food products, beverages and tobacco products giving 13% of manufacturing increased by 2.9%. Within this, the largest group (representing 24% of the subsection), the processing and preserving of meat and the production of meat products fell by 4.6%. The second largest group, the manufacture of beverages went up by 16.1%, year-on-year, at the same time the manufacture of vegetable and animal oils and fats having smaller weight rose at the highest rate of 25%.
The manufacture of pharmaceuticals, medicinal chemical and botanical products grew the most among the subsections, by 20.5%, first of all as a result of a remarkable expansion in export demand.
The manufacture of coke, and refined petroleum products also rose outstandingly by 19.9%, partly due to the low base effect.
The growth continued in the manufacture of machinery and equipment n.e.c accounting for 6.6% of the manufacturing output, the volume of production increased year-on-year by 12.8%; out of the groups, the manufacture of agricultural and forestry machinery grew the most by 31.7%.
The manufacture of basic metals and fabricated metal products having medium weight rose by 13.5% and the manufacture of rubber and plastics products, and other non-metallic mineral products increased by 5.2%, owing to a favourable tendency in both domestic and export sales.
A drop was measured only in the manufacture of chemicals and chemical products: output declined by 2.7% in August, primarily as a result of a significant fall in domestic sales of the manufacture of plastics in primary forms.
Changes in production in the major subsections of manufacturing, August 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 | 12.6 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 105.2 | 8.7 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 113.5 | 8.3 |
| CI | Manufacture of computer, electronic and optical products | 109.0 | 11.9 |
| CK | Manufacture of machinery and equipment n.e.c. | 112.8 | 6.6 |
| CL | Manufacture of transport equipment | 105.0 | 27.0 |
The labour productivity of industrial enterprises with 5 or more employees was 2.9% higher in August than in the same period of 2008, along with a 3.6% increase in the number of employees.
Out of the territorial units of Hungary, industrial output declined year-on-year only in one, in Southern Great Plain (1.2%). In the other regions, volume increases of 3.1% to 12.4% were recorded.
Total new orders in the observed subsections of manufacturing grew by 15.8% compared to the same month of 2016. The volume of new export orders increased by 17.4%, while that of new domestic orders rose by 6.6%. The volume of total stock of orders was below the level of August 2016 by 0.4%.
In January–August 2017, compared to the same period of the previous year:
Industrial production went up by 5.1%. The volume of export sales representing 65% of all sales grew by 5.6%, while that of domestic sales accounting for 35% of all sales rose by 3.7%.
The labour productivity of industrial enterprises with 5 or more employees went up by 1.6% along with a 3.2% increase in the number of employees.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Northern Great Plain (8.8%), while the lowest in Southern Great Plain (2.5%).