Hungary’s industrial production volume increased by 18.1pc from January to May 2021 as compared to the same period last year, according to the Hungarian Central Statistical Office (KSH).
The country’s export sales volume grew by 22pc and domestic sales rose 11pc during the same timeframe under review.
Hungary’s industrial production volume rose by 39.1pc in May this year compared to the same month last year,
The country’s total exports grew by 37pc this May with the export of transport equipment rising by 68pc. Hungary’s domestic sales saw a 25pc increase in May with manufacturing sales rising by 28pc compared to the same period in 2020.
KSH reported that industrial production was up mainly because of production in manufacturing rising by 41pc while mining and quarrying dropped by 4.3pc annually.
Under manufacturing, the production of transport equipment rose by 81pc in May from the same month in 2020 with the volume of motor vehicle manufacturing increasing by 95pc and volume of motor vehicle parts and accessories seeing a 76pc rise.
Manufacturing of non-metallic mineral products along with rubber products saw a 36pc rise in May from the same month last year while manufacturing of basic metals and fabricated metal products increased by 35pc this May.
Hungary’s order volumes in the manufacturing sector grew by 53pc with new domestic orders up 41pc in May from the same period in 2020. Export orders climbed 56pc during the same timeframe.
In the first five months of the year, the country’s construction output also saw a 1.3pc increase from the same period in 2020. In May alone, the construction output rose by 18.7pc annually and saw a 2.3pc increase from April this year, KSH noted.
Under this, the construction of buildings increased by 38.6pc while civil engineering saw a 0.8pc drop in May compared to the same month last year.
KSH reported that the volume of new order contracts increased by 11.8pc under which the contract for construction of building went up by 29.2pc and contract for civil engineering went down by 3.2pc in May on an annual basis.