Industrial Production Down in Hungary

In April, 2020 the volume of industrial production declined by 36.8% year-on-year. Based on working-day adjusted data, production fell by 36.6%. The economic effects caused by the coronavirus epidemic were significant in this period.

According to data by Hungary's Central Statistical Office, the manufacture of transport equipment fell outstandingly, to one-fifth, due to the temporary total or partial production stoppage. The manufacture of food products, beverages and tobacco products declined to a lesser degree, while the manufacture basic pharmaceutical products and pharmaceutical preparations grew almost by one-fifth.

The volume of industrial export dropped by 43% year-on-year. Transport equipment export, representing a 15% weight within export sales in manufacturing, fell significantly, by 77%, while the export in manufacture of computer, electronic and optical products accounting for a 19% weight declined by 23%.

Industrial domestic sales decreased by 18.6%, within it domestic sales in manufacturing were 25% lower compared to the same month of the previous year.

Within industry, production fell by 38% in the decisive weight (94%) representing manufacturing, and it dropped by 39% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) declined by 4.4%.