Industrial production increased by 8.0%
In July 2021, the volume of industrial production grew by 8.0% year-on-year. Based on working-day adjusted data production rose by 10.2%. The majority of the manufacturing subsections contributed to the growth, however, the manufacture of transport equipment representing the largest weight declined. The manufacture of electrical equipment grew at the highest rate. According to seasonally and working-day adjusted data industrial output was 0.5% lower than in June 2021. Production level was similar to that before the pandemic in July 2019.
In July 2021:
The volume of industrial production increased by 8.0% compared to the same period of the previous year. (Compared to the July data published in the first estimate, the data in the second estimate did not change.)
Industrial output in July – according to seasonally and working-day adjusted indices – was 0.5% below the level of the previous month.
The volume of industrial export was above the previous year’s level by 7.2%. However, the transport equipment export, representing a 30% weight within export sales in manufacturing dropped by 8.6%, the export in manufacture of computer, electronic and optical products accounting for a 13% weight declined by 3.9%.
Industrial domestic sales rose by 11.7%, those in manufacturing were 11.8% higher compared to the same month of the previous year.
Within industry, manufacturing, which accounts for a decisive share in industry (96%), grew by 7.6%, energy industry (electricity, gas, steam and air conditioning supply) by 3.8% and mining and quarrying having small weight, by 27%.
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 | 94.2 | 94.2 | 92.3 | 94.9 | 74.0 | |
| 2021 | January | 92.9 | 91.9 | 91.8 | 91.9 | 76.7 |
| February | 101.6 | 100.7 | 99.3 | 101.1 | 76.3 | |
| March | 116.7 | 117.9 | 109.0 | 121.2 | 75.0 | |
| April | 162.9 | 165.5 | 127.7 | 184.7 | 74.0 | |
| May | 140.3 | 135.1 | 128.5 | 137.9 | 72.0 | |
| June | 122.2 | 116.7 | 127.6 | 113.0 | 72.2 | |
| July | 107.6 | 104.7 | 111.8 | 102.0 | 70.5 | |
| From the beginning of the year | 117.5 | 115.8 | 113.4 | 116.6 | 73.7 | |
The majority of the manufacturing subsections contributed to the growth, however, the manufacture of transport equipment representing 23% of the manufacturing output (having the largest weight) fell by 6.7% year-on-year. This is mainly due to factory shutdowns, as well as one-shift work schedule. The volume of motor vehicles manufacturing declined by 4.1%, the manufacture of parts and accessories for motor vehicles decreased by 9.7%.
The manufacture of computer, electronic and optical products accounting for a tenth of manufacturing dropped by 4.0%, too. Out of the two largest groups the manufacture of electronic components and boards declined by 1.2%, the manufacture of consumer electronics fell by 18.9%.
The manufacture of food products, beverages and tobacco products having a 12% share in manufacturing grew by 2.6%, as a result of an increase in both domestic and export sales. Within this the processing and preserving meat and the production of meat products representing the largest weight (24%) rose by 11.2%, the manufacture of beverages, the second most significant group went up by 14.1% compared to the same month of the previous year. Decreases were recorded in six groups, out of these the manufacture of vegetable and animal oils and fats fell the most, by 17.5%.
The manufacture of electrical equipment, having a medium weight, grew at the highest rate, by 58%, first of all 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 15.1%, the manufacture of basic metals and fabricated metal products rose by 19.3% year-on-year.
The growth continued also in the manufacture of chemicals and chemical products. The output grew by 14.6% in July, mainly due to a rise in the significant weight carrying manufacture of plastics in primary forms.
After the increase in the previous month the manufacture of basic pharmaceutical products and pharmaceutical preparations dropped by 6.4% compared to a year earlier, decreases were measured in both sales directions.
Changes in production in the major subsections of manufacturing, July 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 | 102.6 | 11.5 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 115.1 | 9.6 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 119.3 | 9.2 |
| CI | Manufacture of computer, electronic and optical products | 96.0 | 9.8 |
| CJ | Manufacture of electrical equipment | 157.9 | 8.4 |
| CL | Manufacture of transport equipment | 93.3 | 23.3 |
Industrial production declined only in the Southern Great Plain (by 0.2%). In the other regions volume increases between 0.1% and 34% were recorded, the highest one in Pest region.
Total new orders volume in the observed divisions of manufacturing grew by 9.6% compared to July 2020. New domestic orders went up by 13.1%, new export orders rose by 9.0%. The total stock of orders at the end of July was above the previous year’s level by 11.9%.
In January–July 2021, compared to the same period of the previous year:
Industrial production increased by 17.1%. The volume of export sales representing 64% of all sales went up by 18.0%, domestic sales accounting for 36% of all sales rose by 13.0%.
Industrial production grew in every region of Hungary, to the largest degree, by 28% in Pest region, the lowest increase was measured in Southern Transdanubia (9.6%).