Industrial production increased by 0.5%
In November 2022 the volume of industrial production grew by 0.5% year-on-year. Based on working-day adjusted data production rose by 0.8%. The volume of production lessened in the majority of the manufacturing subsections, out of the increasing ones the manufacture of electrical equipment grew the most. According to seasonally and working-day adjusted data industrial output was 0.7% lower than in October 2022.
In November 2022:
The volume of industrial production rose by 0.5% 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 0.7% below the level of the previous month.
The volume of industrial export was 5.1% higher than a year earlier. Transport equipment export, representing a 32% weight within export sales in manufacturing grew by 25%, the export in manufacture of computer, electronic and optical products accounting for a 13% weight, decreased by 4.9%.
Industrial domestic sales were 3.2% higher, domestic sales in manufacturing were 7.7% lower compared to the same month of the previous year.
Within industry, production increased by 1.3% in the decisive weight (95%) representing manufacturing, at the same time the output declined by 1.2% in the small weight representing mining and quarrying, and it dropped by 19.6% in energy industry (electricity, gas, steam and air-conditioning supply).
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 | 115.2 | 105.2 | 72.6 |
| February | 104.5 | 103.8 | 110.3 | 101.6 | 72.6 | |
| March | 103.2 | 102.2 | 113.0 | 98.2 | 70.0 | |
| April | 103.0 | 100.6 | 108.1 | 97.7 | 69.8 | |
| May | 109.9 | 110.3 | 108.6 | 111.1 | 70.3 | |
| June | 100.9 | 101.7 | 101.2 | 102.0 | 70.4 | |
| July | 103.6 | 101.6 | 95.8 | 104.2 | 70.4 | |
| August | 114.9 | 117.2 | 101.7 | 125.1 | 70.4 | |
| September | 111.5 | 110.1 | 97.0 | 115.8 | 73.1 | |
| October | 106.4 | 108.4 | 90.9 | 117.0 | 72.3 | |
| November | 101.3 | 104.3 | 92.3 | 109.8 | 72.2 | |
| From the beginning of the year | 105.9 | 106.1 | 101.9 | 107.8 | 71.3 | |
The largest weight carrying manufacture of transport equipment representing 26% of manufacturing, surpassed by 23% the previous year’s data. Motor vehicles manufacturing went up by 19.9%, the manufacture of parts and accessories for motor vehicles rose by 26%.
The manufacture of computer, electronic and optical products accounting for 10% of manufacturing declined by 3.7% compared to the same month of the previous year. Out of the two largest groups the manufacture of electronic components and boards increased by 22%, the manufacture of consumer electronics fell by 30%.
The manufacture of food products, beverages and tobacco products having a 13% share in manufacturing declined by 2.0%, first of all due to a decrease in domestic sales, while export sales rose. The processing and preserving meat and the production of meat products representing the largest weight (24%) dropped by 5.9% year-on-year. Besides, output decreased in 6 more groups: the manufacture of grain mill products, starches and starch products fell the most, by 27%. Production increased between 3.6 and 26% in the other groups, the manufacture of other food products also containing the manufacture of sugar, went up to the greatest extent.
Out of the subsections the manufacture of electrical equipment representing a 11% weight grew at the highest rate, by 55%. Out of the two most significant weight carrying groups the manufacture of batteries and accumulators went up by 97%, the manufacture of electric motors, generators, transformers and electricity distribution and control apparatus rose by 62%.
Out of the two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products declined by 12.4%, the manufacture of basic metals and fabricated metal products dropped by 16.4% compared to the same month of the previous year.
The increase goes on for five months in the small weight carrying manufacture of basic pharmaceutical products and pharmaceutical preparations: the volume of production was 13.9% higher than in November of 2021, mainly as a result of an expansion in export sales.
Decreases continued in the manufacture of chemicals and chemical products (by 33%), primarily owing to the considerable fall in the manufacture of plastics in primary forms as well as the manufacture of fertilisers and nitrogen compounds.
The manufacture of coke, and refined petroleum products dropped at the highest rate, by 50%, year-on-year, sales fell in both directions.
Changes in production in the major subsections of manufacturing, November 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 | 98.0 | 13.0 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 87.6 | 7.7 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 83.6 | 7.3 |
| CI | Manufacture of computer, electronic and optical products | 96.3 | 9.9 |
| CJ | Manufacture of electrical equipment | 154.5 | 10.9 |
| CL | Manufacture of transport equipment | 123.3 | 26.3 |
Industrial output grew in three regions, it stagnated in one and declined in other four, year-on-year. The highest volume growth was observed in Central Transdanubia (12.4%), the most significant decline (15.6%) was registered in the Northern Great Plain.
The volume of total new orders in the observed divisions of manufacturing was 5.8% higher compared to November 2021. New domestic orders dropped by 1.9%, new export orders grew by 7.2%. The total stock of orders at the end of November was above the previous year’s level by 19.9%.
In January–November 2022, compared to the same period of the previous year:
Industrial production increased by 6.0%. The volume of export sales representing 59% of all sales rose by 8.2%, domestic sales accounting for 41% of all sales grew by 6.0%.
Industrial production declined only in the Southern Transdanubia (by 0.5%). In the other regions volume increases between 0.7% and 12.9% were recorded, the highest one in Pest region.