Industrial production increased by 4.0%
In July 2022 the volume of industrial production grew by 4.0% year-on-year. Based on working-day adjusted data production rose by 6.6%. The volume of production grew in the largest weight representing subsections, at the highest rate in the manufacture of electrical equipment, at the same time decreases were recorded in the majority of the manufacturing subsections. According to seasonally and working-day adjusted data industrial output was 1.1% higher than in June 2022.
In July 2022:
The volume of industrial production rose by 4.0% 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 1.1% above the level of the previous month.
The volume of industrial export was 4.0% higher than a year earlier. Transport equipment export, representing a 31% weight within export sales in manufacturing grew by 16.1%, the export in manufacture of computer, electronic and optical products accounting for a 13% weight, increased by 14.2%.
Industrial domestic sales rose by 3.3%, domestic sales in manufacturing were 4.1% lower compared to the same month of the previous year.
Within industry, manufacturing output, which accounts for a decisive share in industry (95%), grew by 3.7%, energy industry (electricity, gas, steam and air conditioning supply) increased by 29%, mining and quarrying having a small weight, rose by 5.4% compared to July 2021.
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 | 109.0 | 107.5 | 111.3 | 106.1 | 72.2 | |
| 2022 | January | 107.6 | 107.7 | 115.3 | 105.1 | 72.6 |
| February | 104.4 | 103.8 | 110.4 | 101.5 | 72.5 | |
| March | 103.3 | 102.3 | 113.2 | 98.2 | 70.0 | |
| April | 103.0 | 100.6 | 108.2 | 97.7 | 69.8 | |
| May | 109.9 | 110.3 | 108.8 | 110.9 | 70.3 | |
| June | 100.8 | 101.8 | 101.7 | 101.8 | 70.2 | |
| July | 103.7 | 101.8 | 95.9 | 104.5 | 70.4 | |
| From the beginning of the year | 104.5 | 103.9 | 106.9 | 102.7 | 70.7 | |
The largest weight carrying manufacture of transport equipment representing 24% of manufacturing surpassed by 16.6% the previous year’s data. The volume of motor vehicles manufacturing rose by 15.8%, the manufacture of parts and accessories for motor vehicles grew by 16.3%.
The manufacture of computer, electronic and optical products increased by 14.4% compared to the same month of the previous year. Out of the two largest groups the manufacture of electronic components and boards rose by 3.0%, the manufacture of consumer electronics went up by 29%.
The manufacture of food products, beverages and tobacco products having a 13% share in manufacturing grew by 7.4%, first of all due to an increase in export sales, while domestic sales dropped. The processing and preserving meat and the production of meat products representing the largest weight (21%) fell behind the previous year’s value by 8.3%. Above this output declined in two more groups: the manufacture of grain mill products, starches and starch products decreased by 1.2%, the manufacture of bakery and farinaceous products dropped by 2.2%. The production rose between 3.9 and 91% in the other groups, the processing and preserving of fish, crustaceans and molluscs having a very small weight went up the most.
As in the previous months, the manufacture of electrical equipment grew at the highest rate, by 26%. Out of the two most significant weight carrying groups the manufacture of batteries and accumulators went up by 54%, the manufacture of electric motors, generators, transformers and electricity distribution and control apparatus grew by 31%.
The manufacture of rubber and plastics products, and other non-metallic mineral products declined by 8.9%, the manufacture of basic metals and fabricated metal products fell by 6.9%compared to the same month of the previous year.
Decreases also continued in the manufacture of coke, and refined petroleum products (by 10.4%), as well as in that of machinery and equipment n.e.c. (by 3.7%).
The manufacture of chemicals and chemical products dropped at the highest rate, by 15.5%, year-on-year, primarily owing to the significant fall in manufacture of plastics in primary forms.
Changes in production in the major subsections of manufacturing, July 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 | 107.4 | 12.8 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 91.1 | 8.1 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 93.1 | 8.3 |
| CI | Manufacture of computer, electronic and optical products | 114.4 | 9.3 |
| CJ | Manufacture of electrical equipment | 126.3 | 9.3 |
| CL | Manufacture of transport equipment | 116.6 | 23.8 |
Industrial production decreased in Southern Transdanubia (by 4.5%), the Northern Great Plain (by 2.9%), and Northern Hungary (by 0.8%). In the other regions volume increases 1.1% and 13.6% were recorded, the highest one in the Central Transdanubia.
The volume of total new orders in the observed divisions of manufacturing was 8.5% higher compared to July 2021. New domestic orders dropped by 10.1%, at the same time new export orders rose by 12.3%. The total stock of orders at the end of July was above the previous year’s level by 23%.
In January–July 2022, compared to the same period of the previous year:
Industrial production increased by 4.9%. The volume of export sales representing 61% of all sales rose by 4.1%, domestic sales accounting for 39% of all sales grew by 8.4%.
Out of all the regions industrial production decreased only in Western Transdanubia (by 3.6%). The largest volume growth (11.2%) was measured in the Pest region, volume increases between 0.6% and 8.8% were recorded in the others.