Industrial production increased by 2.6%
In August 2021, the volume of industrial production grew by 2.6% year-on-year. Based on working-day adjusted data production rose by 0.6%. The majority of the manufacturing subsections contributed to the growth, the manufacture of electrical equipment grew at the highest rate. The manufacture of transport equipment, representing the largest weight, dropped significantly, by 34%, mainly due to factory shutdowns caused by the global shortage in semiconductors. According to seasonally and working-day adjusted data industrial output was 2.7% lower than in July 2021. Production volume slightly surpassed the pre-pandemic, August 2019 level.
In August 2021:
The volume of industrial production increased by 2.6% compared to the same period of the previous year. (Compared to the August data published in the first estimate, the data in the second estimate did not change.)
Industrial output in August – according to seasonally and working-day adjusted indices – was 2.7% below the level of the previous month.
The volume of industrial export was above the previous year’s level by 0.2%. The transport equipment export, representing a 23% weight within export sales in manufacturing fell by 33%, the export in manufacture of computer, electronic and optical products accounting for a 17% weight declined by 5.8%.
Industrial domestic sales rose by 15.8%, those in manufacturing were 15.9% higher compared to the same month of the previous year.
Within industry, manufacturing, accounting for a decisive share in industry (95%), grew by 1.5%, energy industry (electricity, gas, steam and air conditioning supply) by 10.1% and mining and quarrying having a small weight, increased by 40%.
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 | |
| August | 101.5 | 101.0 | 115.9 | 95.3 | 68.1 | |
| From the beginning of the year | 115.5 | 113.9 | 113.7 | 114.0 | 73.1 | |
The majority of the manufacturing subsections contributed to the growth, however, the manufacture of transport equipment representing 17% of the manufacturing output (having the largest weight) dropped significantly, by 34% year-on-year. Factory shutdowns due to the global shortage in semiconductors contributed primarily to the decline. The volume of motor vehicles manufacturing fell by 53%, the manufacture of parts and accessories for motor vehicles decreased by 20%.
The manufacture of computer, electronic and optical products accounting for 12% of manufacturing declined too, by 3.7%. Out of the two largest groups the manufacture of electronic components and boards dropped by 10.3%, the manufacture of consumer electronics fell by 7.1%.
The manufacture of food products, beverages and tobacco products having approximately a 14% share in manufacturing grew by 10.6%, 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 (23%) went up by 21%, the manufacture of beverages, the second most significant group rose by 9.9% compared to the same month of the previous year. The production declined in one group only, in the very small weight carrying processing and preserving of fish, crustaceans and molluscs, by 9.9%.
The manufacture of electrical equipment, having a medium weight, grew at the highest rate, by 41%, mainly 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 rose by 15.3%, the manufacture of basic metals and fabricated metal products increased by 23% year-on-year.
The growth continued also in the smaller weight carrying manufacture of chemicals and chemical products. The output went up by 32% in August year-on-year, first of all owing to the rise in the significant weight carrying manufacture of plastics in primary forms.
Similarly to the previous month the manufacture of basic pharmaceutical products and pharmaceutical preparations dropped by 10.2% compared to a year earlier, mostly due to an unfavourable tendency in export sales, while domestic sales increased.
Changes in production in the major subsections of manufacturing, August 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 | 110.6 | 13.6 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 115.3 | 10.2 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 123.3 | 9.9 |
| CI | Manufacture of computer, electronic and optical products | 96.3 | 12.0 |
| CJ | Manufacture of electrical equipment | 140.5 | 8.1 |
| CL | Manufacture of transport equipment | 66.3 | 17.0 |
Industrial production declined in WesternTransdanubia (by 21%) and in the Southern Great Plain (by 12.7%). In the other regions volume increases between 5.6% and 18.5% were recorded, the highest one in Pest region.
Total new orders volume in the observed divisions of manufacturing fell by 12.5% compared to August 2020. New domestic orders rose by 6.5%, while new export orders dropped by 15.7%. The total stock of orders at the end of August was above the previous year’s level by 10.8%.
In January–August 2021, compared to the same period of the previous year:
Industrial production increased by 15.3%. The volume of export sales representing 64% of all sales went up by 15.8%, domestic sales accounting for 36% of all sales rose by 13.4%.
Industrial production grew in every region of Hungary, to the largest degree, by 27% in Pest region, the lowest increase was measured in the Southern Great Plain (7.3%).