Industrial production decreased by 2.1%
In August 2020 the volume of industrial production declined by 2.1% year-on-year. The extent of the decrease was 34.8 percentage point lesser than the nadir of April. Based on working-day adjusted data, production remained at the previous year’s level (–0.2%).
In August 2020:
The volume of industrial production decreased by 2.1% compared to the same period of the previous year. (Compared to the August data published in the first estimate, the data in the second estimate did not change.)
Industrial output in August – according to seasonally and working-day adjusted indices – was 6.8% above the level of the previous month, and it grew by 56% compared to April.
The volume of industrial export was below the previous year’s level by 2.9%. Transport equipment export, representing a 34% weight within export sales in manufacturing lessened by 1.6%, while the export in manufacture of computer, electronic and optical products accounting for a 18% weight grew by 0.9%.
Industrial domestic sales decreased by 4.4%, within it domestic sales in manufacturing were 6.3% lower compared to the same month of the previous year.
Within industry, production dropped by 1.6% in the decisive weight (96%) representing manufacturing, and it fell by 33% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) lagged behind the previous year’s level by 1.6%.
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 | ||||||
| 2018 | 103.5 | 103.2 | 109.2 | 101.1 | 72.9 | |
| 2019 | 105.6 | 106.4 | 106.3 | 106.4 | 72.5 | |
| 2020 | January | 103.7 | 102.8 | 97.6 | 104.7 | 75.7 |
| February | 104.5 | 104.5 | 101.3 | 105.6 | 75.3 | |
| March | 94.3 | 93.2 | 99.8 | 91.0 | 72.7 | |
| April | 61.6 | 61.2 | 75.4 | 56.0 | 67.1 | |
| May | 68.2 | 70.3 | 76.5 | 68.0 | 71.4 | |
| June | 92.7 | 94.7 | 90.3 | 96.2 | 75.2 | |
| July | 92.0 | 92.8 | 88.6 | 94.5 | 73.1 | |
| August | 98.4 | 97.1 | 93.7 | 98.4 | 73.2 | |
| From the beginning of the year | 88.9 | 89.2 | 90.1 | 88.9 | 73.3 | |
The largest weight showing manufacture of transport equipment representing 28% of the manufacturing output surpassed by 6.2% the previous year’s production. The volume of motor vehicles manufacturing went up by 13.1%, at the same time the manufacture of parts and accessories for motor vehicles declined by 1.0%.
The manufacture of computer, electronic and optical products accounting for some 14% of manufacturing grew by 1.8%. Out of the two largest groups the more significant one, the manufacture of consumer electronics went up by 31%, while the smaller weight carrying one, the manufacture of electronic components and boards increased by 60%. At the same time the manufacture of communication equipment dropped by 76%.
The manufacture of food products, beverages and tobacco products having a 13% share in manufacturing developed in a similar way as in the same month of the previous year (+0.3%) compared to the same month of the previous year, as a result of an increase in export sales and a decrease in domestic sales. The processing and preserving meat and the production of meat products representing the largest weight (22%) fell by 8.5%, while the manufacture of beverages, the second most significant group declined by 3.8%. The processing and preserving of fish, crustaceans and molluscs representing a very small weight went up the most, by 140%. The manufacture of vegetable and animal oils and fats also rose significantly, by 46%.
The manufacture of electrical equipment having a smaller weight grew by 8.7%, mainly as a result of the expansion in the manufacture of batteries and accumulators connected with the manufacture of transport equipment.
After a one month growth output in the manufacture of chemicals and chemical products was 5.2% lower in August year-on-year, first of all owing to a fall to in the manufacture of plastics in primary forms.
Out of the medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products decreased by 10.1%, the manufacture of basic metals and fabricated metal products dropped (to the highest degree among the subsections) by 16.1% year-on-year.
Changes in production in the major subsections of manufacturing, August 2020
(%)
| 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 | 100.3 | 12.7 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 89.9 | 8.8 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 83.9 | 7.1 |
| CI | Manufacture of computer, electronic and optical products | 101.8 | 13.6 |
| CJ | Manufacture of electrical equipment | 108.7 | 6.1 |
| CL | Manufacture of transport equipment | 106.2 | 27.9 |
Industrial production increased in the Northern Great Plain (by 14.8%), in Western Transdanubia (by 6.0%) and Pest region (by 1.6%). In the other regions volume decreases of 2.8% to 15.0% were recorded, the largest one in Budapest.
Total new orders volume in the observed divisions of manufacturing grew by 15.6% compared to August 2019. New domestic orders rose by 4.0%, new export orders went up by 17.7%. The total stock of orders at the end of August was above the previous year’s level by 8.6%.
In January–August 2020, compared to the same period of the previous year:
Industrial production dropped by 11.0%. The volume of export sales representing 64% of all sales fell by 11.6%, while domestic sales accounting for 36% of all sales declined 7.4%.
Industrial production rose only in the Northern Great Plain (by 3.1%), in the other regions on the other hand volume decreases between 3.1 % and 17.6% were recorded, the largest one in Western Transdanubia.