The stable upward trend of Hungarian industrial output growth continued in November 2013. Industrial output was up by 3.5 percent in comparison to the corresponding period of 2012, and workday-adjusted data show an even more significant growth of 5.8 percent.

The largest contributing factor behind this favourable result has continued to be the vehicle manufacturing sector, but related supplier sectors were also instrumental for the achievement. The Government has been aiming to sustain the remarkable performance of the Hungarian economy by bolstering the productive sector and pursuing an active industrial policy.

In November 2013, growth was registered in seven out of the thirteen sub sectors of manufacturing industry.  Output regarding the vehicle industry, which constitute some one-fourth of total manufacturing production, was up outstandingly, by more than 20 percent. Growth was above-average (exceeding 10 percent) with regard to the medium weight sector of manufacturing of basic metals and fabricated metal products as well as chemicals and chemical products which were mainly boosted by the favourable sales on the domestic and external markets. As a result primarily of better demand for fuels, output concerning coke and refined petroleum products grew by 11.7 percent. Output with regard to leather, related products and footwear was up by some 24 percent in November 2013.

Over the past period, industrial exports also showed marked growth: in the initial eleven months of the year and in November 2013 they increased by 4.2 percent and 4.4 percent year-on-year, respectively. Vehicle industry exports were also significantly higher, by 15 percent, in November.

In January-November 2013, industrial output increased in four Hungarian regions in comparison to the corresponding period of the previous year. The largest growth of 22 percent was registered in the Southern Great Plain area, while expansion was as much as 6 percent in Northern Hungary.

(Ministry for National Economy)