Industrial production decreased by 6.7%
In January 2021 the volume of industrial production fell by 6.7% year-on-year. Based on working-day adjusted data production declined by 2.8%. Compared to crude data, the significant difference is due to the fact that there were two less working days in January 2021 than in January 2020. Industrial output was 0.2% higher, compared to the previous month, according to seasonally and working-day adjusted data.
In January 2021:
The volume of industrial production declined by 6.7% 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 0.2% above the level of the previous month, and it grew by 57% compared to the nadir of April.
The volume of industrial export was below the previous year’s level by 5.1%. Transport equipment export, representing a 29% weight within export sales in manufacturing dropped by 27%, at the same time the export in manufacture of computer, electronic and optical products accounting for a 17% weight grew by 6.4%.
Industrial domestic sales declined by 3.7%, while domestic sales in manufacturing were 8.0% lower compared to the same month of the previous year.
Within industry, production decreased by 7.2% in the decisive weight (94%) representing manufacturing, and it fell by 25% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose by 7.1%.
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 | ||||||
| 2019 | 105.6 | 106.4 | 106.3 | 106.4 | 72.5 | |
| 2020 | 94.0 | 94.1 | 92.3 | 94.7 | 73.9 | |
| 2021 | January | 92.8 | 91.9 | 92.0 | 91.9 | 76.6 |
The largest weight carrying manufacture of transport equipment representing 25% of the manufacturing output was 28% lower than a year earlier. The global semiconductors shortage contributed primarily to the factory shutdowns causing the significant decline. The volume of motor vehicles manufacturing dropped by 38%, the manufacture of parts and accessories for motor vehicles dropped by 18.8%.
The manufacture of computer, electronic and optical products accounting for 13% of manufacturing rose by 8.6%. Out of the two largest groups the more significant one, the manufacture of consumer electronics electronic went up by 30%, while the smaller weight carrying one, the manufacture of electronic components and boards decreased by 2.8%.
The manufacture of food products, beverages and tobacco products having a 11% share in manufacturing declined by 5.0% with decreases measured in both sales directions. The processing and preserving meat and the production of meat products representing the largest weight (24%) fell by 11.0%, at the same time the manufacture of vegetable and animal oils and fats fell to the highest degree, by 15.2%. Altogether production grew in three groups: the processing and preserving of fish, crustaceans and molluscs having a very small weight grew the most, by 47%, while the volume increased between 1.1% and 6.2% in the other three groups.
Among the subsections the manufacture of electrical equipment, having medium weight, grew at the highest rate, by 40%, primarily due to the expansion in the manufacture of batteries and accumulators, as well as that of electric motors, generators.
Out of the other two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products rose by 1.9%, at the same time the manufacture of basic metals and fabricated metal products declined by 2.8% year-on-year.
The growth continued in the manufacture of chemicals and chemical products. The January output went up by 6.8%, mainly owing to the significant growth in the manufacture of plastics in primary forms.
Contrary to the increase of the previous month the manufacture of machinery and equipment n.e.c dropped by 9.0% year-on-year, first of all due to an unfavourable tendency in export demand, however domestic sales rose.
Changes in production in the major subsections of manufacturing, January 2021
(%)
| 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 | 95.0 | 11.0 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 101.9 | 8.7 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 97.2 | 7.6 |
| CI | Manufacture of computer, electronic and optical products | 108.6 | 13.5 |
| CJ | Manufacture of electrical equipment | 140.5 | 8.9 |
| CL | Manufacture of transport equipment | 72.5 | 24.5 |
Industrial production decreased in four regions, to the highest degree, by 34% in the Southern Great Plain. In the other four regions volume increases between 1.1% and 7.9% were recorded, the highest one in the Northern Great Plain.
Total new orders volume in the observed divisions of manufacturing declined by 4.3% compared to January 2020. New domestic orders dropped by 10.5%, new export orders fell by 3.4%. The total stock of orders at the end of January was above the previous year’s level by 0.8%.