Industrial Production Up in Hungary Year-on-Year

In May 2021 the volume of industrial production exceeded by 39.1% the low base level of last year’s May, caused by coronavirus pandemic related restrictions. Based on working-day adjusted data production rose by 40.2%, the Hungarian Central Statistical Office (KSH) reports.

All manufacturing subsections contributed to the significant increase. The growth in the manufacture of transport equipment and that of electrical equipment was above average, while the manufacture of basic pharmaceutical products and pharmaceutical preparations extended in the least degree. According to seasonally and working-day adjusted data industrial output was 3.4% higher than in April 2021.

In May 2021,

• the volume of industrial export was above the previous year’s level by 37%. Transport equipment export, representing a 32% weight within export sales in manufacturing went up by 68%, the export in manufacture of computer, electronic and optical products accounting for a 14% weight grew by 22%.
• industrial domestic sales rose by 25%, domestic sales in manufacturing were 28% higher compared to the same month of the previous year.
• within industry, production increased by 41% in the decisive weight (96%) representing manufacturing, at the same time it declined by 4.3% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) grew by 10.8%. the volume of industrial production exceeded by 39.1% the low base level of last year’s May, caused by coronavirus pandemic related restrictions. Based on working-day adjusted data production rose by 40.2%. All manufacturing subsections contributed to the significant increase. The growth in the manufacture of transport equipment and that of electrical equipment was above average, while the manufacture of basic pharmaceutical products and pharmaceutical preparations extended in the least degree. According to seasonally and working-day adjusted data industrial output was 3.4% higher than in April 2021.