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Industrial production in July 2020

Industrial production in July 2020

Last update: 10.09.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Industry
Publish Date: 10.09.2020

In July, after five months, manufacture of transport equipment surpassed the last year, industrial production as a whole only slightly lags behind.

In July 2020, industrial production approached the last year's volume; after significant declines in previous months, it was only by 3,6 % lower year-on-year in July. Manufacture of transport equipment already exceeded the last year's value, but most sectors of industrial production still lag behind 2019.

The total industrial production of the SR lagged behind the last year's value for the sixth month in a row, but this decline was the slightest in July; negative development of the economy was mostly affected by decreases in May (by 33,3 %) and in April (by 42 %).  Compared to June, after taking into account seasonal effects, industrial production increased by 7,1 % in July.

As for the 15 components of industry1), a four achieved higher performance than in July 2019 in total, most of the sectors or their groupings has not yet reached the last year's level of production volume.

In July 2020, compared to July 2019, the total decrease in industrial production was mainly influenced by lower manufacture of rubber and plastic products by 13,2 %, manufacture of machinery and equipment by 15,8 %, other manufacture, repair and installation of machinery and equipment by 23,8 % %, manufacture of electrical equipment by 8,9 % and manufacture of textiles, clothing, leather and leather products by 28,1 %.

A favourable development of the total production affected increases of selected sectors. After five months of decline, manufacture of transport equipment was revived, increasing only slightly by 0,8 % year-on-year so far. A rise was also recorded in mining and quarrying by 3,2 % and in electricity, gas, steam and air conditioning supply by 16,2 %, manufacture of coke and refined petroleum products by 35,6 % (but this was related to the last year's production shutdown in one of the producers).

Compared to July 2019, according to the main industrial groupings, production of intermediate consumption decreased by 7,7 %, production of non-durable consumer goods by 7,2 %, production of investment goods by 6,4 % and production of durable consumer goods by 1,3 %. Production related to energy rose by 17 %.

Since the beginning of the year, in summary, industrial production fell by 16 % year-on-year in 2020, of which in manufacturing by 18,8 %. Production increased in electricity, gas, steam and air conditioning supply by 1,8 % and in mining and quarrying by 4,3 %.

As for the special groupings of industries that contributed the most to the overall decline in production, the most significant decrease was in the manufacture of transport equipment by 28,2 %, manufacture of rubber and plastic products and other non-metallic mineral products by 17,5 %, manufacture of machinery and equipment n.e.c. by 18,7 %, manufacture of metals and fabricated metal products except machinery and equipment by 14,5 % and other manufacture, repair and installation of machinery and equipment by 28,5 %. Production increased in manufacture of coke and refined petroleum products by 20,2  electricity, gas, steam and air conditioning supply by 1,8 % and in mining and quarrying by 4,3 %.

According to the main industrial groupings, production of durable consumer goods decreased by 28,4 %, production of investment goods by 24,6 %, production of intermediate consumption and production of non-durable consumer goods by 12,9 % %. Production related to energy rose by 3,7 %.


Note: preliminary data; industrial production represents volume production changes in its natural expression. Data are adjusted from the influence of the number of working days by program JDEMETRA+ and during processing of every month they are back-casted from the beginning of the time series. In July 2020, the number of working days was by 1 day higher than in the corresponding period of 2019 and also since the beginning of the year. Note 1 According to the Statistical classification of economic activities SK NACE Rev. 2, the structure of the industry consists of three sections – Mining and Quarrying, Manufacturing and Electricity, Gas, Steam and Air Conditioning Supply. Manufacturing is further divided into 13 special groupings of industrial sectors.

 

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