Industrial Production Up by 14.4% on 2021 Pandemic Year

In August 2022 the volume of industrial production grew by 14.4% year-on-year. Based on working-day adjusted data production rose by 9.3%. Compared to crude data, the significant difference is due to the fact that there were two more working days in August 2022 than in the same month of the previous year, the Central Statistical Office reports.

The volume of production grew in the majority of the manufacturing subsections, at the highest rate in the manufacture of transport equipment. According to seasonally and working-day adjusted data industrial output was 0.1% higher than in July 2022.

In August 2022:
The volume of industrial production rose by 14.4% 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.)

The volume of industrial export was 28% higher than a year earlier. Transport equipment export, representing a 29% weight within export sales in manufacturing grew by 68%, the export in manufacture of computer, electronic and optical products accounting for a 15% weight, increased by 28%.

Industrial domestic sales rose by 8.0%, domestic sales in manufacturing were 1.6% higher compared to the same month of the previous year.

Within industry, manufacturing output, which accounts for a decisive share in industry (92%), grew by 14.9%, energy industry (electricity, gas, steam and air conditioning supply) increased by 1.8%, mining and quarrying having a small weight, rose by 21% compared to August 2021.

The largest weight carrying manufacture of transport equipment representing 21% of manufacturing, surpassed by 58% the previous year’s extremely low base – at the highest rate out of the subsections (there were several significant factory shutdowns in August 2021). Motor vehicles manufacturing went up by 114%, the manufacture of parts and accessories for motor vehicles rose by 34%.

The manufacture of computer, electronic and optical products accounting for 11% of manufacturing increased by 26% compared to the same month of the previous year. Out of the three largest groups the manufacture of electronic components and boards grew by 19.8%, the output in consumer electronics increased by 9.7%, the manufacture of computers and peripheral equipment more than tripled year-on-year. %.

The manufacture of food products, beverages and tobacco products having a 14% share in manufacturing rose by 13.7%, due to an increase in both domestic and export sales. The processing and preserving meat and the production of meat products representing the largest weight (22%) exceeded the previous year’s value by 1.7%. The production grew between 7.9 and 110% in the other, expanding groups, the processing and preserving of fish, crustaceans and molluscs having a very small weight went up the most. Decreases were recorded in two groups only: the manufacture of bakery and farinaceous products declined by 0.9, the processing and preserving of fruit and vegetables dropped by 6.1%.

The manufacture of electrical equipment grew by 52%. Out of the two most significant weight carrying groups the manufacture of batteries and accumulators went up by 92%, the manufacture of electric motors, generators, transformers and electricity distribution and control apparatus rose by 57%.

Out of the two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products declined by 2.9%, the manufacture of basic metals and fabricated metal products fell by 5.8% compared to the same month of the previous year.

The decrease continued in the manufacture of coke, and refined petroleum products (by 14.6%), too, sales fell in both sales directions.

The manufacture of chemicals and chemical products dropped at the highest rate, by 30%, year-on-year, primarily owing to the strong decline in manufacture of plastics in primary forms. The manufacture of fertilisers and nitrogen compounds shrank to one-tenth of the August 2021 value.