Industrial production decreased by 7.3%, however, output grew in the majority of machine industry subsections
The volume of industrial production declined in September 2023 by 7.3%, year-on-year. Based on working-day adjusted data production fell by 5.8%. Production dropped in the majority of the manufacturing subsections, at the same time production volume increased in the largest weight carrying manufacture of transport equipment, and that of electrical equipment. According to seasonally and working-day adjusted data industrial output was 1.2% higher than in August 2023.
In September 2023:
The volume of industrial production decreased by 7.3% compared to the same period of the previous year. (Compared to the September data published in the first estimate, the data in the second estimate did not change.)
Industrial output in September – according to seasonally and working-day adjusted indices – was 1.2% above the level of the previous month.
The volume of industrial export was 7.7% lower than a year earlier. Transport equipment export, representing a 33% weight within export sales in manufacturing grew by 3.4%, the manufacture of electrical equipment export, accounting for a 15% weight, went up by 5.1%.
Domestic sales of industry fell by 16.4%, those of manufacturing decreased by 6.2% compared to the same month of the previous year.
Within industry, manufacturing output, which accounts for a decisive share in industry (96%), declined by 6.1%, that of mining and quarrying, having a small weight, fell by 31%, production in energy industry (electricity, gas, steam and air conditioning supply) dropped by 24%.
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 the previous year = 100.0 | ||||||
| 2021 | 109.0 | 107.5 | 111.3 | 106.1 | 72.2 | |
| 2022 | 106.2 | 106.2 | 100.2 | 108.8 | 71.5 | |
| 2023 | January | 100.8 | 100.5 | 88.4 | 105.4 | 74.6 |
| February | 95.4 | 97.5 | 89.4 | 100.8 | 74.0 | |
| March | 97.1 | 99.2 | 87.3 | 104.4 | 73.3 | |
| April | 92.2 | 94.0 | 84.5 | 98.2 | 72.4 | |
| May | 95.0 | 98.5 | 88.6 | 102.7 | 73.0 | |
| June | 100.0 | 102.8 | 91.7 | 107.4 | 73.6 | |
| July | 97.8 | 99.8 | 94.2 | 102.2 | 72.0 | |
| August | 95.3 | 95.0 | 91.1 | 96.6 | 71.2 | |
| September | 93.9 | 95.4 | 93.8 | 96.0 | 73.3 | |
| From the beginning of the year | 96.4 | 98.1 | 89.8 | 101.5 | 73.1 | |
The manufacture of transport equipment, representing 27% of the manufacturing production (having the largest weight), increased by 1.2%. compared to the same month of the previous year. Motor vehicles manufacturing declined by 0.9%, the manufacture of parts and accessories for motor vehicles rose by 4.0%.
The manufacture of electrical equipment, having a 12% weight in manufacturing, was 2.0% higher year-on-year. Out of the two largest weight representing groups the manufacture of batteries and accumulators went up by 15.4%, the manufacture of electric motors, generators, transformers and electricity distribution and control apparatus dropped by 23%.
The manufacture of computer, electronic and optical products, accounting for 10% within manufacturing, fell by 18.2% compared to the same month of the previous year. Out of the two largest groups, the manufacture of electronic components and boards decreased by 14.4%, the manufacture of consumer electronics dropped by 28%.
The manufacture of food products, beverages and tobacco products, having a 13% share in manufacturing, declined by 9.7% year-on-year, with sales falling in both directions. Output grew in only two groups (between 12.9% and 15,3%). Processing and preserving meat and the production of meat products, representing the largest weight (20%), dropped by 15.7% compared to the same month of the previous year. Production decreased between 1.2% and 56% in the other eight groups, least of all in the processing and preserving of fruit and vegetables, to the greatest extent in the small weight representing processing and preserving of fish, crustaceans and molluscs.
Out of the two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products fell by 22%, the manufacture of basic metals and fabricated metal products declined by 13.1% compared to the same month of the previous year.
The manufacture of machinery and equipment n.e.c. representing 6% weight within manufacturing rose by 3.4%, mainly owing to a significant increase in the manufacture of engines and turbines, (except aircraft, vehicle and cycle engines), having the largest weight among the classes.
For the first time since April 2022 growth was measured in the manufacture of coke, and refined petroleum products: the output went up by 9.2% in September compared to the low base of the previous year, both domestic and export sales expanded.
Changes in production in the major subsections of manufacturing, September 2023
(%)
| 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 | 90.3 | 12.5 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 78.4 | 7.3 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 86.9 | 6.7 |
| CI | Manufacture of computer, electronic and optical products | 81.8 | 9.6 |
| CJ | Manufacture of electrical equipment | 102.0 | 11.5 |
| CL | Manufacture of transport equipment | 101.2 | 26.6 |
Industrial production grew in Pest region (by 13.6%), and the Southern Great Plain (by 1.8%). In the other regions volume decreases between 3.2% and 15.4% were recorded, the highest one in the Northern Great Plain.
The volume of total new orders in the observed divisions of manufacturing was 10.1% lower compared to September 2022. New domestic orders dropped by 7.0%, new export orders declined by 10.5%. The total stock of orders at the end of September was above the previous year’s level by 0.3%.
In January–September 2023, compared to the same period of the previous year:
Industrial production decreased by 4.9%. The volume of export sales, representing 60% of all sales declined by 2.1%, domestic sales accounting for 40% of all sales fell by 16.4%.
Out of the thirteen subsections of manufacturing production decreased in nine, to the greatest extent, by 21%, in the manufacture of chemicals and chemical products. In the other four production volume rose between 0.6% and 16.4%, mostly in the manufacture of electrical equipment; the output in the manufacture of transport equipment, considered to be the largest subsection, went up by 12.0%.