Within industry as a whole, production fell by 38% in manufacturing, and it dropped by 39% in mining and quarrying. The output of energy industry declined by 4.4%.
The economic effects caused by the coronavirus epidemic were significant in April, KSH notes. The outstanding drop in automotive industry output came as a result of temporary total or partial production stoppages. The volume of motor vehicle manufacturing dropped by 94%, while the manufacture of parts and accessories for motor vehicles fell by 69%
The manufacture of computer, electronic and optical products accounting for 13% of manufacturing declined by 21%. Out of the two largest groups the more significant one, the manufacture of electronic components and boards rose by 6.9%, at the same time the smaller weight carrying one, the manufacture of consumer electronics decreased by 28%.
The manufacture of food products, beverages and tobacco products, having a 16% share in manufacturing was less affected by the epidemic. The volume of production declined by 7.9% compared to the same month of 2019, with decreases measured in both sales directions. The processing and preserving meat and the production of meat products fell by 17.2%, while the manufacture of prepared animal feeds, the second most significant group, went up by 8.6%. Altogether the production declined in five groups, out of these the manufacture of beverages fell the most, by 31%.
Growth was measured only in the manufacture basic pharmaceutical products and pharmaceutical preparations among the subsections: the output exceeded the low base of the previous year by 19.4% in April, as both export and domestic demand developed favorably.
Out of the medium-weight representing subsections the manufacture of rubber and plastic products, and other non-metallic mineral products decreased by 25%, the manufacture of basic metals and fabricated metal products dropped by 28% year-on-year.
The manufacture of electrical equipment declined in the smallest proportion, by 5.2%.
Industrial production fell in every region compared to the same month of the previous year. The largest decrease (62%) was recorded in Western Transdanubia; volume declines were measured between 11.7% and 44% in the other regions.
Total new orders volume in the observed divisions of manufacturing fell by 42% compared to April 2019, KSH notes. New domestic orders declined by 34%, new export orders dropped by 43%. The total stock of orders at the end of April was below the previous year’s level by 4.7%.
As the Budapest Business Journal reported earlier, industrial production as a whole declined by 36.8% in April 2020 compared to the same month of the previous year. According to seasonally and working-day adjusted indices, output was 30.5% below the level recorded in March 2020.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
