Industrial production increased by 2.6%
In November 2021, the volume of industrial production grew by 2.6% year-on-year. Based on working-day adjusted data production rose by 2.1%. According to seasonally and working-day adjusted data industrial output was 2.9% higher than in October 2021. In a yearly comparison we measured increases in the majority of the manufacturing subsections, however, the manufacture of transport equipment, representing the largest weight, dropped by 15.1%, mainly due to the global shortage in semiconductors.
In November 2021:
The volume of industrial production increased by 2.6% compared to the same period of the previous year. (Compared to the November data published in the first estimate, the data in the second estimate did not change.)
Industrial output in November – according to seasonally and working-day adjusted indices – was 2.9% above the level of the previous month.
The volume of industrial export decreased by 0.4% year-on-year. The transport equipment export, representing a 30% weight within export sales in manufacturing fell by 17.3%, the export in manufacture of computer, electronic and optical products accounting for a 16% weight declined by 1.8%.
Industrial domestic sales rose by 6.9%, those in manufacturing were 11.3% higher compared to the same month of the previous year.
Within industry, manufacturing, which accounts for a decisive share in industry (94%), grew by 1.3%, energy industry (electricity, gas, steam and air conditioning supply) increased by 10.1% and mining and quarrying having a small weight, by 37%.
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 | |
| October | 95.4 | 92.3 | 108.6 | 86.5 | 69.4 | |
| November | 101.3 | 99.8 | 111.3 | 95.8 | 71.0 | |
| From the beginning of the year | 109.6 | 108.0 | 112.0 | 106.5 | 72.4 | |
The manufacture of transport equipment representing 23% of the manufacturing output (having the largest weight) fell by 15.1% year-on-year. The decline was mainly caused by the fact that, due to the global semiconductor shortage, factories were working at lower capacity or on a one shift basis.The volume of motor vehicles manufacturing dropped by 11.5%, the manufacture of parts and accessories for motor vehicles decreased by 21%.
The manufacture of computer, electronic and optical products accounting for almost 12% of manufacturing declined too, by 2.1%, due to the microchip shortage. The base material shortage had a major impact on the manufacture of electronic components and boards, – which is supplying the transport equipment manufacturing –; it dropped by 24%. The largest weight carrying subsection, the manufacture of consumer electronics grew by 4.6% year-on-year.
The manufacture of food products, beverages and tobacco products having a 11% share in manufacturing increased at the highest rate, by 17.4%, as a result of an increase in both domestic and export sales. Within it the processing and preserving meat and the production of meat products representing the largest weight (24%) went up by 17.5%, compared to the same month of the previous year. The production declined in one group only, by 51%, in the very small weight carrying processing and preserving of fish, crustaceans and molluscs.
Out of the two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products rose by 9.3%, the manufacture of basic metals and fabricated metal products increased by 16.2% year-on-year.
The manufacture of electrical equipment, having a smaller weight, went up by 15.7%, mainly due to the expansion in the manufacture of electric motors, generators as well as that of batteries and accumulators.
The growth continued in the manufacture of coke, and refined petroleum products, the production volume rose by 12.3% year-on-year, primarily owing to the increase in domestic sales, at the same time export sales dropped significantly.
Similarly to the previous month, the manufacture of pharmaceuticals, medicinal chemical and botanical products fell by 10.2% compared to the previous year, both domestic and export sales declined.
Changes in production in the major subsections of manufacturing, November 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 | 117.4 | 11.5 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 109.3 | 8.8 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 116.2 | 9.3 |
| CI | Manufacture of computer, electronic and optical products | 97.9 | 11.9 |
| CJ | Manufacture of electrical equipment | 115.7 | 7.5 |
| CL | Manufacture of transport equipment | 84.9 | 23.3 |
Industrial production decreased in Western Transdanubia (by 6.0%), Northern Hungary (by 3.4%), and the Southern Great Plain (by 1.3%). In the other regions volume increases 0.6% and 13.6% were recorded, the highest one in the Northern Great Plain.
Total new orders volume in the observed divisions of manufacturing declined by 2.2% compared to November 2020. New domestic orders grew 7.3%, while new export orders dropped by 3.7%. The total stock of orders at the end of November was above the previous year’s level by 11.7%.
In January–November 2021, compared to the same period of the previous year:
Industrial production increased by 9.9%. The volume of export sales representing 63% of all sales went up by 9.0%, domestic sales accounting for 37% of all sales rose by 11.4%.
Industrial production grew in every region of Hungary, to the largest degree, by 21% in the Pest region, the lowest increase was measured in Western Transdanubia (4.7%).