The multi-month upward trend of Hungary’s industrial production continued in September this year: In comparison to the corresponding period of 2012, industrial output increased by 5.5 percent. As a result of the Government’s reindustrialization policy, Hungary is also among the top performers within the European Union.

Industrial output was mainly driven by the sales growth of the car industry and related supplier divisions. In the ninth month of the year, manufacturing industry achieved excellent performance: the sector expanded by 6.3 percent as eight out of the altogether thirteen sub sectors posted output growth. The vehicle industry, which constitutes some one-fourth of total manufacturing production, was up outstandingly, by more than 27 percent. The fabricated metal products and textile industry showed above average growth with 12 and 9.5% percent as well driven by the economic effect of exports.

Generally, exports were increased by 11.8 percent in one year period - especially the vehicle manufacturing sector, which constitute an important share of total manufacturing industry exports with some one-third of total, jumped in September by almost 28 percent.

Just today, Takata Corporation, a leading global supplier of automotive safety systems, announced that they have established a Hungarian subsidiary named Takata Safety Systems Hungary Kft. to build a new production facility in Hungary. The new high tech manufacturing plant will be located in the city of Miskolc in Northern Hungary, producing airbags and airbag components for car manufacturers in Europe. It is scheduled to begin operations in October 2014 and will employ up to 1,000 people. Total investment in the plant will be €68.3 million, which is the largest investment of a Japanese company in the region.

According to Eurostat data, Hungary is among the best on the industrial performance ranking of the EU28 member states based on seasonally adjusted monthly and workday-adjusted annual data. The steady increase of industrial output conforms to the approach of the Government as it aims to maintain the robust performance of the Hungarian economy through bolstering the productive sectors and pursuing an active industrial policy.

(Prime Minister’s Office)