Industrial production increased by 2.0%
In December 2022 the volume of industrial production grew by 2.0% year-on-year. Based on working-day adjusted data production rose by 5.7%. Compared to crude data, the significant difference is due to the fact that there were two less working-days in December 2022 than in December 2021. The volume of production declined in the majority of the manufacturing subsections, out of the increasing ones, however, the manufacture of electrical equipment grew the most. According to seasonally and working-day adjusted data industrial output was 3.8% higher than in November 2022.
In 2022 the volume of industrial production increased by 5.8% compared to 2021.
In December 2022:
The volume of industrial production rose by 2.0% compared to the same period of the previous year. (Compared to the December data published in the first estimate, the data in the second estimate did not change.)
Industrial output in December – according to seasonally and working-day adjusted indices – was 3.8% above the level of the previous month.
The volume of industrial export was 3.9% higher than a year earlier. Transport equipment export, representing a 33% weight within export sales in manufacturing grew by 34%, the export in manufacture of computer, electronic and optical products accounting for a 13% weight, decreased by 1.2%.
Industrial domestic sales fell by 13.8%, domestic sales in manufacturing were 15.5% lower compared to the same month of the previous year.
Within industry, production increased by 2.4% in the decisive weight (95%) representing manufacturing, it rose by 16.3% in the small weight representing mining and quarrying, at the same time the output of the energy industry (electricity, gas, steam and air-conditioning supply) dropped by 7.8%.
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 | 107.7 | 107.8 | 115.2 | 105.3 | 72.6 |
| February | 104.6 | 103.9 | 110.3 | 101.7 | 72.6 | |
| March | 103.3 | 102.4 | 113.0 | 98.4 | 70.1 | |
| April | 103.1 | 100.7 | 108.1 | 97.8 | 69.8 | |
| May | 110.0 | 110.4 | 108.6 | 111.2 | 70.4 | |
| June | 100.9 | 101.8 | 101.1 | 102.1 | 70.4 | |
| July | 103.8 | 101.8 | 95.8 | 104.5 | 70.5 | |
| August | 115.0 | 117.3 | 101.9 | 125.3 | 70.4 | |
| September | 111.9 | 110.5 | 97.3 | 116.2 | 73.1 | |
| October | 106.5 | 108.5 | 90.9 | 117.2 | 72.4 | |
| November | 101.4 | 104.5 | 92.3 | 110.1 | 72.2 | |
| December | 102.4 | 103.2 | 84.5 | 112.8 | 72.2 | |
| From the beginning of the year | 105.8 | 106.0 | 100.3 | 108.4 | 71.4 | |
The largest weight carrying manufacture of transport equipment, representing 25% of manufacturing, surpassed by 34% the level of the previous year’s low base. Motor vehicles manufacturing went up by 48%, the manufacture of parts and accessories for motor vehicles rose by 28%.
The manufacture of computer, electronic and optical products accounting for more than 9% of manufacturing output declined by 8.1% compared to the same month of the previous year. Out of the two largest groups the manufacture of electronic components and boards increased by 5,2%, while the manufacture of consumer electronics fell by 28%.
The manufacture of food products, beverages and tobacco products having a 13% share in manufacturing declined by 4.8%, 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 7.9% year-on-year. Besides, output decreased in five more groups; the manufacture of grain mill products, starches and starch products fell the most, by 34%. Production increased between 2.1 and 31% in the other groups, the processing and preserving of fish, crustaceans and molluscs, having a very small weight, 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 62%. Out of the two most significant weight carrying groups the manufacture of batteries and accumulators went up by 120%, the manufacture of electric motors, generators, transformers and electricity distribution and control apparatus rose by 37%.
Out of the two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products declined by 13.6%, the manufacture of basic metals and fabricated metal products dropped by 23% compared to the same month of the previous year. In the latter one the manufacture of basic iron and steel and of ferro-alloys shrunk to approximately 2% of the December 2021 value.
The decrease continued in the manufacture of coke, and refined petroleum products (by 29%), sales fell in both directions.
The manufacture of chemicals and chemical products dropped at the highest rate, by 40% year-on-year, mainly due to the considerable fall in the manufacture of plastics in primary forms as well as the manufacture of fertilisers and nitrogen compounds.
Changes in production in the major subsections of manufacturing, December 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 | 95.2 | 13.4 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 86.4 | 6.9 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 77.4 | 6.5 |
| CI | Manufacture of computer, electronic and optical products | 91.9 | 9.4 |
| CJ | Manufacture of electrical equipment | 161.6 | 11.0 |
| CL | Manufacture of transport equipment | 134.5 | 24.8 |
Industrial output grew in four regions and declined in other four year-on-year. The highest volume growth was observed in Pest region (28%), the most significant decline (18.8%) was registered in the Northern Great Plain.
The volume of total new orders in the observed divisions of manufacturing was 6.0% higher compared to December 2021. New domestic orders dropped by 12.2%, new export orders grew by 7.9%. The total stock of orders at the end of December was above the previous year’s level by 7.8%.
In 2022, compared to the previous year:
Industrial production rose by 5.8%, following the 9.5% increase of the previous year. Within this, out of the three sections, output grew by 5.8% in manufacturing, by 1.2% in the energy industry, by 9.0% in the low weight representing mining and quarrying, compared to 2021.
In manufacturing, production value at current prices was approximately HUF 52 thousand billion in 2022. The volume of production exceeded the level of the previous year in every month. Out of the thirteen subsections of manufacturing the production declined in four, in the others the volume increased between 0.7% and 36%, mostly in the manufacturing of electrical equipment. The output in the manufacture of transport equipment, considered to be the largest one, went up by 14.6%, while the manufacture of computer, electronic and optical products grew by 9.0%, the manufacture of food products, beverages and tobacco products rose by 6.6%.
Industrial export sales went up by 8.0% year-on-year (in 2021, an 8.9% volume increase was measured). Exports accounted for 59% of total industrial sales and for 71% of manufacturing sales. Manufacturing exports grew by 8.4% compared to the previous year. Within it the volume of export sales increased by 15.5% in the 30% weight representing manufacture of transport equipment. The second largest subsection (accounting for 14%), the manufacture of computer, electronic and optical products expanded its export by 8.5%. The export in the manufacture of electrical equipment grew the most, by 40%.
Industrial domestic sales increased by 3.6%, including a 0.3% domestic sales growth within manufacturing. Domestic sales exceeded the level of the previous year by 1.2% in the manufacture of food products, beverages and tobacco products, representing the largest weight, 24%, of domestic manufacturing sales. Domestic sales of the manufacture of coke, and refined petroleum products accounting for a 17% weight in domestic manufacturing (the second largest subsection) declined by 3,8 % in 2022.
Industrial production decreased in Southern Transdanubia (by 0.6%), and the Northern Great Plain (by 1.1%). In the other regions volume increases between 2.0% and 14.2% were recorded, the highest one in Pest region.