Industrial production increased by 3.6%
In March 2022 the volume of industrial production grew by 3.6% year-on-year. Based on working-day adjusted data production rose by 4.2%. In a yearly comparison increases were measured in the majority of the manufacturing subsections, but the manufacture of transport equipment, representing the largest weight, - due to semiconductor shortages and other material supply problems - dropped considerably. According to seasonally and working-day adjusted data industrial output was 0.1% lower than in February 2022.
In March 2022:
The volume of industrial production rose by 3.6% compared to the same period of the previous year. (Compared to the March data published in the first estimate, the data in the second estimate did not change.)
Industrial output in March – according to seasonally and working-day adjusted indices – was 0.1% below the level of the previous month.
The volume of industrial export was 2.4% higher than a year earlier. Transport equipment export, representing a 27% weight within export sales in manufacturing fell by 18.2%, the export in manufacture of computer, electronic and optical products accounting for a 15% weight, increased by 5.1%.
Industrial domestic sales rose by 11.8%, domestic sales in manufacturing were 12.4% higher compared to the same month of the previous year.
Within industry, manufacturing output, which accounts for a decisive share in industry (97%), grew by 3.0%, energy industry (electricity, gas, steam and air conditioning supply) increased by 19.2% and mining and quarrying having a small weight, rose by 9.6%.
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 | ||||||
| 2020 | 94.2 | 94.2 | 92.3 | 94.9 | 74.0 | |
| 2021 | 109.1 | 107.7 | 112.0 | 106.1 | 72.0 | |
| 2022 | January | 107.6 | 107.5 | 115.5 | 104.7 | 72.5 |
| February | 104.1 | 103.6 | 109.8 | 101.5 | 72.5 | |
| March | 103.0 | 102.1 | 112.4 | 98.2 | 69.9 | |
| From the beginning of the year | 104.7 | 104.1 | 112.4 | 101.2 | 71.5 | |
The largest weight carrying manufacture of transport equipment representing 22% of the manufacturing was 13.3% lower year-on-year, mainly due to semiconductor shortages, and other material supply problems. The volume of motor vehicles manufacturing dropped by 20%, the manufacture of parts and accessories for motor vehicles declined by 9.3%.
The manufacture of computer, electronic and optical products accounting for 11% of manufacturing increased by 6.3% compared to the same month of the previous year. Out of the two largest groups the manufacture of electronic components and boards fell by 12.2%, the manufacture of consumer electronics rose by 28%.
The manufacture of food products, beverages and tobacco products having a 11% share in manufacturing grew by 10.2% as a result of an increase in both domestic and export sales. Altogether the production declined in three groups, out of these the manufacture of tobacco products having a small weight fell the most, by 10.4%. The processing and preserving meat and the production of meat products representing the largest weight (22%) decreased by 2.5%, while the manufacture of vegetable and animal oils and fats, the second most significant group, grew by 32% compared to the same month of the previous year.
Similarly to the previous month the manufacture of coke, and refined petroleum products went up the most, by 23%, first of all owing to the expansion in domestic sales, at the same time export sales declined.
The rate of growth further accelerated in the manufacture of electrical equipment, having a medium weight: output in March rose by 22%. Out of the two largest groups the manufacture of batteries and accumulators went up by 67%, the manufacture of electric motors, generators increased by 11.2%.
Out of the other two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products declined by 2.6%, at the same time the manufacture of basic metals and fabricated metal products grew by 6.6% year-on-year.
Contrary to the drop in the previous month the manufacture of basic pharmaceutical products and pharmaceutical preparations rose by 1.7% compared to a year earlier, which is the result of an increase of export sales and a decrease of domestic sales.
Changes in production in the major subsections of manufacturing, March 2022
(%)
| 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 | 110.2 | 11.4 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 97.4 | 8.4 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 106.6 | 8.9 |
| CI | Manufacture of computer, electronic and optical products | 106.3 | 10.8 |
| CJ | Manufacture of electrical equipment | 121.9 | 8.4 |
| CL | Manufacture of transport equipment | 86.7 | 21.5 |
Industrial production decreased in Southern Transdanubia (by 0.6%), and Western Transdanubia (by 12.8%). In the other regions volume increases between 0.4% and 18.5% were recorded, the highest one in Pest region.
Total new orders volume in the observed divisions of manufacturing rose by 2.7% compared to March 2021. New domestic orders went up by 9.2%, new export orders increased by 1.5%. The total stock of orders at the end of March was above the previous year’s level by 26%.
In January–March 2022, compared to the same period of the previous year:
Industrial production increased by 5.5%. The volume of export sales representing 61% of all sales rose by 5.1%, domestic sales accounting for 39% of all sales grew by 8.0%.
Out of all the regions industrial production declined only in Southern Transdanubia (by 0.6%) and in Western Transdanubia (by 7.0%) compared to the same period of the previous year. The largest volume growth (15.7%), was measured in the Pest region, volume increases between 3.4% and 11.1% were recorded in the others.