Published on: 12 November 2020

Industrial production increased by 2.2% compared to September 2019, and by 2.3% month-on-month

In September 2020 the volume of industrial production grew by 2.2% year-on-year according to crude data. Based on working-day adjusted data production declined by 1.0%. The growth was 2.3% compared to the previous month according to seasonally and working-day adjusted data.

In September 2020:

The volume of industrial production increased by 2.2% compared to the same period of the previous year. (Compared to the September data published in the first estimate, the data in the second estimate did not change.)

Industrial output in September – according to seasonally and working-day adjusted indices – was 2.3% above the level of the previous month, and it grew by 61% compared to April.

The volume of industrial export was above the previous year’s level by 3.8%. Transport equipment export, representing a 38% weight within export sales in manufacturing rose by 8.8%, while the export in manufacture of computer, electronic and optical products accounting for a 18% weight grew by 7.5%.

Industrial domestic sales practically stagnated, within it domestic sales in manufacturing were 1.3% lower compared to the same month of the previous year.

Within industry, production increased by 3.3% in the decisive weight (97%) representing manufacturing, and it fell by 26% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose by 0.2% year-on-year.

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
2018103.5103.2109.2101.172.9
2019105.6106.4106.3106.472.5
2020January103.6102.997.3104.875.8
February104.4104.5101.0105.675.4
March94.493.399.591.172.8
April61.661.275.556.167.1
May68.370.476.468.271.4
June93.295.290.097.075.4
July92.192.988.894.673.1
August98.597.293.698.573.3
September103.3103.598.7105.175.6
From the beginning of the year90.891.091.091.173.7

The largest weight carrying manufacture of transport equipment representing 32% of the manufacturing output exceeded by 7.8 % the previous year’s production. The volume of motor vehicles manufacturing increased by 5.8%, the manufacture of parts and accessories for motor vehicles went up by 8.8%.

The manufacture of computer, electronic and optical products accounting for 14% of manufacturing grew by 6.0%. Out of the two largest groups the more significant one, the manufacture of consumer electronics rose by 27%, while the smaller weight carrying one, the manufacture of electronic components and boards went up by 78%. At the same time the manufacture of communication equipment dropped by 75%.

The manufacture of food products, beverages and tobacco products having an 11% share in manufacturing grew by 2.1% with increases measured in both sales directions. Out of the groups the processing and preserving of fish, crustaceans and molluscs representing a very small weight went up the most, by 79%, and the manufacture of vegetable and animal oils and fats also rose significantly, too, by 29%. Decreases were recorded in two groups only: the processing and preserving meat and the production of meat products representing the largest weight (22%) fell by 5.5%, while the manufacture of other food products including the manufacture of cocoa, chocolate and sugar, confectionery, as well as that of prepared meals and dishes declined by 6.5%.

The manufacture of electrical equipment having a smaller weight grew at the highest rate among the subsections: by 24% year-on-year, mainly as a result of the expansion in the manufacture of batteries and accumulators connected with the manufacture of transport equipment.

After a two-month long decline output in the manufacture of basic pharmaceutical products and pharmaceutical preparations was 6.7% higher in September year-on-year, as a result of an increase in domestic sales and a decrease in export sales..

The degree of fall was almost the same in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products declined by 4.4%, the manufacture of basic metals and fabricated metal products dropped by 4.3% year-on-year.

The manufacture of textiles, wearing apparel, leather and related products fell the most, by 13.9%, decreases were measured in almost every class.

Changes in production in the major subsections of manufacturing, September 2020

(%)

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 products102.111.0
CGManufacture of rubber and plastics products, and other non-metallic mineral products95.68.2
CHManufacture of basic metals and fabricated metal products, except machinery and equipment95.77.2
CIManufacture of computer, electronic and optical products106.013.7
CJManufacture of electrical equipment123.66.3
CLManufacture of transport equipment107.831.6

Industrial output fell in three regions year-on-year, by the most in Budapest (8.0%). The highest growth was observed in the Northern Great Plain (14.6%), in the other regions volume increases between 2.5% and 9.7% were measured.

Total new orders volume in the observed divisions of manufacturing grew by 8.2% compared to September 2019. New domestic orders rose by 7.0%, new export orders went up by 8.4%. The total stock of orders at the end of September was above the previous year’s level by 6.9%.

In January–September 2020, compared to the same period of the previous year:

Industrial production dropped by 9.2%. The volume of export sales representing 64% of all sales fell by 9.5%, while domestic sales accounting for 36% of all sales declined by 6.6% compared to the same period of the previous year.

Industrial production rose only in the Northern Great Plain (by 4.9%), while in the other regions volume decreases between 1.4 % and 15.6% were recorded, the largest one in Western Transdanubia.