November 18, 2018 Sunday
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Hungarian economy
Annual industrial production up by 4.2pc in Hungary
In June 2018, the volume of industrial output grew by 4.2% year-on-year, the Hungarian Central statistical Office (KSH) reports. Based on working-day adjusted data, the production rose by 3.1%. However, industrial output – according to the seasonally and working-day adjusted index –was down by 1.2% on the previous month.
Diplomacy&Trade online | August 13, 2018

The volume of industrial export grew by 2.8% year-on-year. Within export sales in manufacturing, the 36% representing transport equipment export went up by 4.3%, at the same time in the manufacture of computer, electronic and optical products, accounting for 15% of manufacturing export, volume increased by 5.8%.

Industrial domestic sales rose by 6.7%, within this, the domestic sales of manufacturing were 7.6% higher compared to the same month of the previous year.

Within industry, production grew by 4.3% in the decisive weight (97%) representing manufacturing, while it went up by 35% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) dropped by 8.3%.

The production of transport equipment representing 29% of manufacturing output rose year-on-year by 2.0%. The manufacture of parts and accessories for motor vehicles went up by 7.6%, whereas the manufacture of motor vehicles declined by 4.9%.

The manufacture of computer, electronic and optical products giving 12% of manufacturing grew by 6.6%. Out of the two dominant groups the manufacture of communication equipment increased outstandingly by 44%, while the manufacture of consumer electronics went up by 2.1%.

The manufacture of food products, beverages and tobacco products accounting for almost 10% of manufacturing went up by 4.3% compared to the previous year’s same month, both domestic and export sales increased. Out of the groups, the largest one, the processing and preserving meat and the production of meat products (representing 24% of the subsection) grew by 5.4%, Decreases were recorded in two groups only: in processing and preserving of fruit and vegetables (3.4%), and in the manufacture of dairy products (5.0%).

The increase of production continued in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products grew by 16.9%, while the manufacture of basic metals and fabricated metal products went up by 10.5% year-on-year.

After a decrease in the previous month the manufacture of pharmaceuticals, medicinal chemical and botanical products rose by 6.1% in June, mainly as a result of a growth in export sales, while domestic sales dropped.

The production has been declining for five months in the manufacture of machinery and equipment n.e.c accounting for 5.8% of the manufacturing: output dropped by 15.1% in June year-on-year, primarily due to a significant fall in the manufacture of engines and turbines, except aircraft, vehicle and cycle engines this having the largest weight among the classes.

   
   
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