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Industrial production in May 2021
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Industrial production in May 2021

Last update: 09.07.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Industry
Publish Date: 09.07.2021

In May 2021, industrial production rose by more than a third, it is still lagging behind the coronacrisis by 10 %.

In particular, the automotive industry contributed to the growth. Its production increased by more than a half year-on-year, but still did not offset the decline caused by the COVID-19 pandemic. The driving force of the Slovak economy lagged behind the period two years ago by 32 %.

Of the fifteen industries 1), currently thirteen of them recorded a year-on-year output growth, but only seven managed to reach higher values ​​than before the pandemic. The majority showed double-digit year-on-year growth, as the industry began to recover only in last May by the gradual reopening of the economy.

Industrial production (IP) thus increased by 36,7 % year-on-year in the fifth month of this year. In the corresponding period last year it decreased by 33,4 %.

Of the industries that contributed the most to the overall growth of May production, the most significant increase was recorded in manufacture of transport equipment (by 57,2 %), despite partial shutdown in automotive production for the missing chips. While in April, the manufacture of transport equipment lagged behind the period two years ago by more than a tenth, in May the gap deepened by almost a third.

The overall result of industry in May was also affected by the year-on-year increased manufacture of basic metals and fabricated metals (by 58,1 %) as well as the manufacture of rubber and plastic products (by 49,5 %), manufacture of machinery and equipment (by 54 %) and manufacture of electrical equipment (by 51,1 %). On the other hand, a growth in total production was dampened by a drop in mining and quarrying (by 2,7 %) and in the manufacture of basic pharmaceutical products and preparations (by 1 %).

According to the main industrial groupings, compared with May 2020, the production of durable goods increased by 62,4 %, the production of capital goods by 52,2 %, the production for intermediate consumption by 41,8 %, the production of non-durable goods by 15,9 % and production related to energy by 8,1 %.

After seasonal adjustments, industrial production in May 2021 compared with April 2021, decreased by 2,4 %.

In summary, since the beginning of the year, IP increased by 20,5 % year-on-year, of which in industrial production by 21,8 %, in electricity, gas, steam and air conditioning supply by 15,2 % and in mining and quarrying by 7,7 %.

Of the industries that contributed the most to the overall growth of production, the most significant increase was in the manufacture of transport equipment (by 36,5 %), manufacture of machinery and equipment (by 28,1 %),  manufacture of basic metal and fabricated metal products (23 %), electricity, gas, steam and air conditioning supply (by 15,2 %) and in manufacture of electrical equipment (by 24,7 %). Production decreased year-on-year in manufacture of coke and refined petroleum products (by 7,5 %).

According to the main industrial groupings, the production of durable goods increased by 34 %, the production of capital goods by 29,7 %, the production for intermediate consumption by 18,3 %, the production related to energy by 10,9 % and manufacture of non-durable goods by 5,3 %.


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.
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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