In May 2022, the volume of industrial production grew by 9.4% year-on-year. Based on working-day adjusted data production rose by 3.4%, the Hungarian Central Statistical Office reports.
Compared to crude data, the significant difference is due to the fact that there were two more working days in May 2022 than in the same month of the previous year. Increases were recorded in the majority of the manufacturing subsections, the manufacture of electrical equipment grew at the highest rate. According to seasonally and working-day adjusted data industrial output was 1.4% higher than in April 2022.
In May 2022:
The volume of industrial production rose by 9.4% compared to the same period of the previous year. (Compared to the May data published in the first estimate, the data in the second estimate did not change.)
The volume of industrial export was 11.6% higher than a year earlier. Transport equipment export, representing a 30% weight within export sales in manufacturing grew by 13.0%, the export in manufacture of computer, electronic and optical products accounting for a 13% weight, increased by 12.3%.
Industrial domestic sales rose by 9.5%, domestic sales in manufacturing were 7.2% higher compared to the same month of the previous year.
Within industry, manufacturing output, which accounts for a decisive share in industry (96%), grew by 9,8%, mining and quarrying having a small weight, increased by 10.0% compared to May 2021, whereas energy industry (electricity, gas, steam and air conditioning supply) declined by 1.9%.
The largest weight carrying manufacture of transport equipment representing 23% of manufacturing was 8.7% higher year-on-year. The volume of motor vehicles manufacturing rose by 3.1%, the manufacture of parts and accessories for motor vehicles grew by 12.4%.
The manufacture of computer, electronic and optical products accounting for 10% of manufacturing increased by 22% compared to the same month of the previous year. Out of the two largest groups the manufacture of electronic components and boards rose by 5.8%, the manufacture of consumer electronics went up by 23%.
The manufacture of food products, beverages and tobacco products having a 12% share in manufacturing grew by 17.1%, 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 (23%) rose by 4.5%, while the manufacture of vegetable and animal oils and fats, the second most significant group, went up by 41% compared to the same month of the previous year. Decrease was recorded in one group only: the manufacture of grain mill products declined by 0,2%.
As in the previous month, the manufacture of electrical equipment having a medium weight grew the most, by 37%, Out of the two largest groups the manufacture of batteries and accumulators went up by 72%, the manufacture of electric motors, generators increased by 33%.
Out of the other two medium-weight representing subsections the manufacture of rubber and plastics products, and other non-metallic mineral products rose by 7.2%, the manufacture of basic metals and fabricated metal products grew by 6.6% year-on-year.
Production decreased in three subsections: the manufacture of chemicals and chemical products dropped by 3.6, the manufacture of basic pharmaceutical products and pharmaceutical preparations declined by 4.2, while the manufacture of coke, and refined petroleum products fell at the highest rate of 20% compared to high base of the previous year. The last decrease in this subsection was measured in January 2021.
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