Industrial production decreased by 2.3%
In September 2021, the volume of industrial production fell by 2.3% year-on-year. Based on working-day adjusted data production declined by 1.7%. Increases were recorded in the majority of the manufacturing subsections, the manufacture of electrical equipment grew at the highest rate. However, the manufacture of transport equipment representing the largest weight dropped significantly, by 26%, primarily due to factory shutdowns caused by the global shortage in semiconductors. According to seasonally and working-day adjusted data industrial output was 0.3% lower than in August 2021. Production level was similar to the pre-pandemic, September 2019 one.
In September 2021:
The volume of industrial production decreased by 2.3% compared to the same period of the previous year. (Compared to the September data published in the first estimate, the data in the second estimate did not change.)
Industrial output in September – according to seasonally and working-day adjusted indices – was 0.3% below the level of the previous month.
The volume of industrial export was below the previous year’s level by 0.2%. The transport equipment export, representing a 28% weight within export sales in manufacturing fell by 27%, the export in manufacture of computer, electronic and optical products accounting for a 16% weight declined by 12.0%.
Industrial domestic sales rose by 7.0%, those in manufacturing were 5.0% higher compared to the same month of the previous year.
Within industry, the production in manufacturing accounting for a decisive share in industry (96%) dropped by 3.5%, at the same time it grew in mining and quarrying having a small weight by 19.1% and in the energy industry (electricity, gas, steam and air conditioning supply) it increased by 15.0%.
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 | 91.9 | 91.9 | 76.7 |
| February | 101.6 | 100.7 | 99.4 | 101.2 | 76.3 | |
| March | 116.7 | 117.9 | 108.9 | 121.2 | 75.0 | |
| April | 163.0 | 165.6 | 127.9 | 184.7 | 74.0 | |
| May | 140.3 | 135.1 | 128.5 | 137.9 | 72.0 | |
| June | 122.3 | 116.7 | 127.6 | 113.0 | 72.2 | |
| July | 107.7 | 104.9 | 112.2 | 102.1 | 70.4 | |
| August | 101.4 | 101.1 | 115.9 | 95.4 | 68.1 | |
| September | 96.5 | 95.4 | 105.0 | 92.0 | 71.5 | |
| From the beginning of the year | 112.8 | 111.4 | 112.6 | 110.9 | 72.9 | |
The manufacture of transport equipment representing 23% of the manufacturing output (having the largest weight) fell the most among the subsections, by 26% year-on-year. Factory shutdowns due to the global shortage in semiconductors contributed primarily to the decline. The volume of motor vehicles manufacturing dropped by 29%, the manufacture of parts and accessories for motor vehicles decreased by 26%.
The manufacture of computer, electronic and optical products accounting for 12% of manufacturing declined too, by 11.4%. Out of the two largest groups the more significant one, the manufacture of consumer electronics fell by 10,2%, while the smaller weight carrying one, the manufacture of electronic components and boards dropped by 23%.
The manufacture of food products, beverages and tobacco products having approximately a 13% share in manufacturing grew by 11,1%, 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 17.4%, the manufacture of beverages, the second most significant group rose by 13.4% compared to the same month of the previous year. Decreases were recorded in two groups only: the processing and preserving of fish, crustaceans and molluscs dropped by 5.9%, the manufacture of vegetable and animal oils and fats declined by 1.1%.
The manufacture of electrical equipment, having a medium weight, grew at the highest rate, by 28%, 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 rose by 6.2%, the manufacture of basic metals and fabricated metal products increased by 12.3% year-on-year.
The growth continued also in the smaller weight carrying manufacture of machinery and equipment n.e.c. The production volume went up by 13.3% in September year-on-year, increases were measured in almost every class.
The growth lasting for months came to a halt in the manufacture of chemicals and chemical products. The output was below the previous year’s September level by 4.9% mainly due to a fall in the significant weight carrying manufacture of plastics in primary forms.
Changes in production in the major subsections of manufacturing, September 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 | 111.1 | 12.5 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 106.2 | 9.1 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 112.3 | 9.6 |
| CI | Manufacture of computer, electronic and optical products | 88.6 | 11.7 |
| CJ | Manufacture of electrical equipment | 128.2 | 8.1 |
| CL | Manufacture of transport equipment | 74.1 | 22.7 |
Industrial production decreased in WesternTransdanubia (by 17.6%), Northern Hungary (by 8.6%), and Central Transdanubia (by 8.2%). In the other regions volume increases 1.0% and 14.1% were recorded, the highest one in Budapest.
Total new orders volume in the observed divisions of manufacturing fell by 6.8% compared to September 2020. New domestic orders declined by 5.5%, while new export orders dropped by 7.0%. The total stock of orders at the end of September was above the previous year’s level by 12.4%.
In January–September 2021, compared to the same period of the previous year:
Industrial production increased by 12.8%. The volume of export sales representing 64% of all sales went up by 13.5%, domestic sales accounting for 36% of all sales rose by 12.6%.
Industrial production grew in every region of Hungary, to the largest degree, by 25% in Pest region, the lowest increase was measured in the Southern Great Plain (6.4%).