Industrial production increased by 1.9%
In February 2021 the volume of industrial production grew by 1.9% year-on-year. Based on working-day adjusted data production rose by 3.9%. Industrial output was 4.8% higher, compared to the previous month, according to seasonally and working-day adjusted data.
In February 2021:
The volume of industrial production increased by 1.9% compared to the same period of the previous year. (Compared to the February data published in the first estimate, the data in the second estimate did not change.)
Industrial output in February – according to seasonally and working-day adjusted indices – was 4.8% above the level of the previous month, and it rose by 67% compared to the nadir of April 2020, surpassing even the pre-pandemic peak.
The volume of industrial export was above the previous year’s level by 2.1%. Transport equipment export, representing a 34% weight within export sales in manufacturing dropped by 10.8%, at the same time the export in manufacture of computer, electronic and optical products accounting for a 16% weight grew by 13.8%.
Industrial domestic sales rose by 2.6%, while domestic sales in manufacturing were 0.9% lower compared to the same month of the previous year.
Within industry, production increased by 1.7% in the decisive weight (95%) representing manufacturing, and it fell by 36% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) grew by 7.7%, mainly due to the colder weather compared with the previous year (according to the Hungarian Meteorological Service the February 2021 average temperature was 2.8℃ lower than the February 2020 average).
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 |
| February | 101.7 | 100.8 | 99.1 | 101.3 | 76.3 | |
| From the beginning of the year | 97.3 | 96.5 | 95.7 | 96.7 | 76.5 | |
The largest weight carrying manufacture of transport equipment representing 30% of the manufacturing output was 6.6% lower than a year earlier. The volume of motor vehicles manufacturing dropped by 6.8%, the manufacture of parts and accessories for motor vehicles declined by 6.4%.
The manufacture of computer, electronic and optical products accounting for 12.5% of manufacturing grew by 9.8%. Out of the two largest groups the manufacture of electronic components and boards rose by 7.3%, the manufacture of consumer electronics went up by 18.6%.
The manufacture of food products, beverages and tobacco products having a 10% share in manufacturing declined by 2.9%, as a result of an increase in export sales and a decrease in domestic sales. Increases were recorded in two groups only: the processing and preserving of fish, crustaceans and molluscs having a very small weight grew by 76%, processing and preserving of fruit and vegetables rose by 0.6%. The processing and preserving meat and the production of meat products representing the largest weight (25%) declined by 1.0%, at the same time the manufacture of tobacco products fell to the highest degree, by 14.3%. The volume decreased between 0.2% and 8.2% in the other groups.
Among the subsections the manufacture of electrical equipment, having a medium weight, grew at the highest rate, by 36%, mainly due to the expansion in the manufacture of electric motors, generators as well as that of batteries and accumulators.
Out of the other two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products increased by 0.7%, the manufacture of basic metals and fabricated metal products rose by 0.5% year-on-year.
The growth continued in the manufacture of chemicals and chemical products. The February output went up by 7.4%, mainly owing to the significant increase in the manufacture of plastics in primary forms.
The manufacture of textiles, wearing apparel, leather and related products having the smallest weight fell the most, by 15.7%, due to unfavourable tendency in demand of both domestic and export sales.
Changes in production in the major subsections of manufacturing, February 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 | 97.1 | 9.8 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 100.7 | 8.2 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 100.5 | 7.6 |
| CI | Manufacture of computer, electronic and optical products | 109.8 | 12.5 |
| CJ | Manufacture of electrical equipment | 135.7 | 7.8 |
| CL | Manufacture of transport equipment | 93.4 | 29.6 |
Industrial production increased in five regions, to the highest degree, by 10.1% in Northern Hungary. In the other three regions volume decreases between 0.2% and 5.3% were recorded, the highest one in the Western Transdanubia.
Total new orders volume in the observed divisions of manufacturing grew by 4.3% compared to February 2020. New domestic orders went up by 7.9%, new export orders rose by 3.8%. The total stock of orders at the end of February was above the previous year’s level by 1.2%.
In January–February 2021, compared to the same period of the previous year:
Industrial production decreased by 2.3%. The volume of export sales representing 65% of all sales dropped by 1.5%, domestic sales accounting for 35% of all sales declined by 0.6%.
Industrial output grew in four regions and declined in other four year-on-year. The highest growth was observed in the Northern Great Plain (8.9%), the most significant decline (16.9%) was registered in the Southern Great Plain.