Industrial production increased by 12.0%
In July 2019, the volume of industrial output grew by 12.0% year-on-year. Based on working-day adjusted data, production rose by 8.7%.
In July 2019:
The volume of industrial production rose by 12.0 year-on-year. (Compared to the July 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 1.7%.
The volume of industrial export grew by 12.7% year-on-year. Within export sales in manufacturing, the 37% representing transport equipment export went up by 31%, the export in manufacture of computer, electronic and optical products accounting for a 14% weight rose by 4.7%.
Industrial domestic sales increased by 14.3%, within it domestic sales in manufacturing were 16.2% higher compared to the same month of the previous year.
Within industry, production grew by 12.1% in the decisive weight (96%) representing manufacturing, and it went up by 12.6% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) increased to a lesser degree by 2.3%.
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 | ||||||
| 2017 | 104.6 | 104.0 | 102.9 | 104.4 | 74.7 | |
| 2018 | 103.5 | 103.2 | 109.2 | 101.1 | 72.9 | |
| 2019 | January | 103.7 | 106.1 | 108.2 | 105.3 | 74.6 |
| February | 106.8 | 107.4 | 108.2 | 107.1 | 74.3 | |
| March | 108.0 | 108.3 | 109.4 | 107.8 | 73.6 | |
| April | 106.1 | 105.6 | 111.6 | 103.4 | 71.5 | |
| May | 109.2 | 108.2 | 108.0 | 108.3 | 72.4 | |
| June | 97.7 | 99.6 | 100.8 | 99.2 | 73.0 | |
| July | 112.1 | 113.2 | 116.2 | 111.9 | 70.9 | |
| From the beginning of the year | 106.1 | 106.8 | 108.9 | 106.1 | 72.9 | |
The rate of growth accelerated in the largest weight representing manufacture of transport equipment accounting for 30% of manufacturing: output went up by 35% in July compared the same month of the previous year. The remarkable growth was mainly related to a summer stoppage dissimilar from the base year. The manufacture of motor vehicles grew by 60%, the manufacture of parts and accessories for motor vehicles rose by 15.8%.
The manufacture of computer, electronic and optical products accounting for almost 11% of manufacturing increased by 4.1%. Out of the two most significant groups the manufacture of consumer electronics grew by 44%, at the same time the manufacture of communication equipment fell by 17.3%
The manufacture of food products, beverages and tobacco products providing more than 11% of manufacturing rose by 6.5% year-on-year, as a result of a favourable tendency in both domestic and export sales. Out of the groups the processing and preserving meat and the production of meat products, representing the largest weight (25%) increased by 7.6%, while the manufacture of beverages, the second most significant group went up by 15.4%. Decreases were recorded in two groups only: in processing and preserving of fruit and vegetables (17,1%), and in the small weight carrying manufacture of tobacco products (7.3%).
Contrary to the decrease in the previous month the volume of production increased in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products grew by 6.8%, the manufacture of basic metals and fabricated metal products rose by 2.4%.
Two subsections representing smaller weight increased at a rate above the industrial average: the manufacture of electrical equipment grew by 13.5%, while other manufacturing went up by 17.8%.
The declining tendency continued in the manufacture of chemicals and chemical products: output dropped in July by 3.7% year-on-year, mainly owing to a fall in the significant weight carrying manufacture of plastics in primary forms.
The manufacture of coke, and refined petroleum products fell the most, by 7.9%; due to the unfavourable tendency in export sales.
Changes in production in the major subsections of manufacturing, July 2019
(%)
| 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 | 106.5 | 11.2 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 106.8 | 9.4 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 102.4 | 8.7 |
| CI | Manufacture of computer, electronic and optical products | 104.1 | 10.8 |
| CK | Manufacture of machinery and equipment n.e.c. | 110.3 | 5.5 |
| CL | Manufacture of transport equipment | 134.6 | 29.7 |
Industrial production grew in every region. The highest volume growth was observed in Western Transdanubia (21%), whereas in all others volume increases between 3.1% and 16.6% were measured.
Total new orders volume in the observed subsections of manufacturing rose by 11.0% compared to the July 2018 data. New domestic orders volume increased by 14.7%, new export orders grew by 10.3%. The volume of total stock of orders at the end of July was above the previous year’s level by 0.5%.
In January–July 2019, compared to the same period of the previous year:
Industrial production rose by 6.3%. The volume of export sales representing 63% of all sales went up by 6.8%, domestic sales accounting for 37% of all sales grew by 7.5%.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Pest region (10.0%), while the lowest in Northern Hungary (0.3%).