Industrial production increased by 39.1%
In May 2021 the volume of industrial production exceeded by 39.1% the low base level of last year’s May, caused by coronavirus pandemic related restrictions. Based on working-day adjusted data production rose by 40.2%. All manufacturing subsections contributed to the significant increase. The growth in the manufacture of transport equipment and that of electrical equipment was above average, while the manufacture of basic pharmaceutical products and pharmaceutical preparations extended in the least degree. According to seasonally and working-day adjusted data industrial output was 3.4% higher than in April 2021.
In May 2021:
The volume of industrial production increased by 39.1% compared to the same period of the previous year. (Compared to the May data published in the first estimate, the data in the second estimate did not change.)
Industrial output in May – according to seasonally and working-day adjusted indices – was 3.4% above the level of the previous month.
The volume of industrial export was above the previous year’s level by 37%. Transport equipment export, representing a 32% weight within export sales in manufacturing went up by 68%, the export in manufacture of computer, electronic and optical products accounting for a 14% weight grew by 22%.
Industrial domestic sales rose by 25%, domestic sales in manufacturing were 28% higher compared to the same month of the previous year.
Within industry, production increased by 41% in the decisive weight (96%) representing manufacturing, at the same time it declined by 4.3% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) grew by 10.8%.
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 | ||||||
| 2019 | 105.6 | 106.4 | 106.3 | 106.4 | 72.5 | |
| 2020 | 94.0 | 94.1 | 92.3 | 94.7 | 73.9 | |
| 2021 | January | 92.9 | 92.0 | 91.9 | 92.0 | 76.6 |
| February | 101.8 | 100.8 | 99.1 | 101.4 | 76.3 | |
| March | 116.8 | 117.8 | 108.3 | 121.4 | 75.0 | |
| April | 163.0 | 165.7 | 127.3 | 185.4 | 74.0 | |
| May | 140.6 | 135.2 | 128.3 | 138.0 | 71.9 | |
| From the beginning of the year | 118.8 | 118.1 | 110.5 | 120.9 | 74.7 | |
The largest weight carrying manufacture of transport equipment representing 26% of the manufacturing output grew outstandingly, by 81%, primarily due to the low base value caused by factory shutdowns, as well as by the one-shift work schedule in May of the previous year. The volume of motor vehicles manufacturing went up by 95%, the manufacture of parts and accessories for motor vehicles increased by 76%.
The manufacture of computer, electronic and optical products accounting for 10% of manufacturing rose by 24%. Out of the two largest groups the manufacture of electronic components and boards grew by 23%, the manufacture of consumer electronics went up by 37%.
The manufacture of food products, beverages and tobacco products having approximately a 11% share in manufacturing rose by 14.7%, due to an increase in both domestic and export sales. The production volume grew in each group: the processing and preserving of fish, crustaceans and molluscs having a very small weight increased the most, by 46%, at the same time the manufacture of beverages, the second most significant group rose the least, by 1.4% compared to the same month of the previous year. The processing and preserving meat and the production of meat products representing the largest weight (24%) went up by 24% year-on-year.
Similarly to the previous month the manufacture of electrical equipment, having a medium weight, went up significantly, too, by 73%, mainly owing 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 36%, the manufacture of basic metals and fabricated metal products rose by 35% year-on-year.
The growth of rate accelerated in the manufacture of coke, and refined petroleum products: the output went up by 60% with increases measured in both sales directions.
The manufacture of basic pharmaceutical products and pharmaceutical preparations grew the least, by 1.1% compared to a year earlier, the effect of the high base played a part in this trend, too.
Changes in production in the major subsections of manufacturing, May 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 | 114.7 | 10.7 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 135.8 | 9.4 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 134.8 | 8.4 |
| CI | Manufacture of computer, electronic and optical products | 123.8 | 10.4 |
| CJ | Manufacture of electrical equipment | 173.3 | 7.8 |
| CL | Manufacture of transport equipment | 181.1 | 26.0 |
Industrial production rose in every region of Hungary, to the largest degree, by 56% in Northern Hungary, the lowest increase was measured in Southern Transdanubia (16.7%).
Total new orders volume in the observed divisions of manufacturing grew by 53% compared to May 2020. New domestic orders went up by 41%, new export orders rose by 56%. The total stock of orders at the end of May was above the previous year’s level by 11.7%.
In January–May 2021, compared to the same period of the previous year:
Industrial production increased by 18.1%. The volume of export sales representing 65% of all sales grew by 22%, domestic sales accounting for 35% of all sales rose by 11.0%.
In the regions volume increases between 7.6% and 28% were recorded, the highest growth was observed in Northern Hungary.