The Government’s active industrial policy has been bearing fruits: according to the latest data of the Hungarian Central Statistical Office (KSH), Hungary’s industrial output increased by 1.4 percent compared to 2012, while year-on-year it was up by 6.8 percent in December last year.

In the second half of last year, industrial output increased steadily and the fact that in December 2013 the stock of orders at manufacturing industry sectors soared by almost 85 percent forecasts persistent growth.

Last year brought a positive U-turn also for the domestic vehicle manufacturing sector, and this division has become the growth engine driving economic expansion. Output and exports of the sector increased outstandingly, by 19 percent and more than 18 percent, respectively, in 2013. Industrial exports for the year were up by 4.9 percent, while they gained 12.9 percent year-on-year in December.

In 2013, the performance of the manufacturing sector also improved. While in the first half of the year output was still below the 2012 level, in the second half it was 5.3 percent higher than that. For the entire year output growth of 2 percent was registered in the sector with six sub sectors recording increases.

The manufacturing sector performed excellently in the last month of last year as well, registering growth of 8.6 percent. This figure resulted from output increases in eight out of thirteen sub sectors.  Output at the vehicle manufacturing sector, which constitutes some one-fourth of total manufacturing industry output, was almost one-and-a-half times higher. Output at the second largest sub sector, the manufacturing of food, beverages and tobacco products, was 6.4 percent higher.

The steady increase of industrial output conforms to the approach of the Government aiming to maintain the positive performance of the Hungarian economy through bolstering the productive sectors and pursuing an active industrial policy.

(Ministry for National Economy)