Industrial production increased by 2.4%
In January 2020 the volume of industrial production grew by 2.4% year-on-year. Based on working-day adjusted data, production rose by 2.7%.
In January 2020:
The volume of industrial production increased by 2.4% compared to the same period of the previous year. (Compared to the January data published in the first estimate, the data in the second estimate did not change.)
Industrial output in January – according to seasonally and working-day adjusted indices – was 4.6% above the level of the previous month.
The volume of industrial export grew by 4.3% year-on-year. Transport equipment export, representing a 37% weight within export sales in manufacturing increased by 6.5%; the export in manufacture of computer, electronic and optical products accounting for a 16% weight went up by 9.9%.
Industrial domestic sales decreased by 4.5%, within it a 4.8% drop in that of manufacturing occurred compared to the same month of the previous year.
Within industry production grew by 3.0% in the decisive weight (94%) representing manufacturing, while it declined by 9.3% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose 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 | ||||||
| 2018 | 103.5 | 103.2 | 109.2 | 101.1 | 72.9 | |
| 2019 | 105.5 | 106.3 | 106.7 | 106.2 | 72.4 | |
| 2020 January | 103.0 | 102.4 | 95.2 | 104.9 | 76.0 | |
After a drop during the previous month the manufacture of transport equipment representing 31% of manufacturing output exceeded the previous year’s level by 10.6%. The volume of manufacturing of motor vehicles went up by 19.0%, while the manufacture of parts and accessories for motor vehicles increased by 4.9%.
The manufacture of computer, electronic and optical products accounting for 12% of manufacturing grew by 8.4%. The manufacture of consumer electronics carrying a significant weight rose by 26%.
The manufacture of food products, beverages and tobacco products having an 11% share of manufacturing went up by 5.3% compared to the same month of the previous year, with increases measured in both sales directions. Out of its groups the processing and preserving meat and the production of meat products, representing the largest weight (27%) rose by 1.8%, while the manufacture of vegetable and animal oils and fats grew the most, by 53%. Decrease was recorded in one group only: in the manufacture of prepared animal feeds (by 7.1%).
Out of the medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products decreased by 3.3%, the manufacture of basic metals and fabricated metal products dropped by 13.2%.
The manufacture of electrical equipment having a smaller weight grew at the highest rate among the subsections, by 17.7%, first of all due to a favourable tendency in export sales.
The manufacture of textiles, wearing apparel, leather and related products having the smallest weight declined by 8.8%, decreases were measured in almost every class.
The manufacture of coke, and refined petroleum products fell the most year-on-year, by 14.2%, owing to a drop in domestic sales.
Changes in production in the major subsections of manufacturing, January 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 | 105.3 | 10.8 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 96.7 | 8.0 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 86.8 | 7.0 |
| CI | Manufacture of computer, electronic and optical products | 108.4 | 12.0 |
| CJ | Manufacture of electrical equipment n.e.c. | 117.7 | 5.8 |
| CL | Manufacture of transport equipment | 110.6 | 31.1 |
Industrial production decreased in Central Transdanubia (by 0.7%), Southern Transdanubia (by 3.1%) and Budapest (by 8.0%). In the other regions volume increases of 2.4% to 10.5% were recorded, the highest one in Pest region.
Total new orders volume in the observed divisions of manufacturing grew by 8.6% compared to January 2019. New domestic orders declined by 2.8%, new export orders went up by 10.4%. The total stock of orders at the end of January was below the previous year’s level by 3.4%.