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Industrial production in July 2022
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Industrial production in July 2022

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July´s production of Slovak industry resulted in a year-on-year decrease by 6.4%

The slowdown was evident in most industries, with only a third of them returning to positive numbers. The decisive production of cars was slightly in positive numbers but this does not give much optimism for the assessment of the first holiday month, when the impact of the year-on-year change in holidays can also be felt among the major producers.

Industrial production1) decreased by 6.4% year-on-year in July 2022, thus increasing the pace of decline recorded in June, but remaining below the rate of decline recorded in the spring months. The assessment of the industry's performance over a longer period of time, for example with the corresponding pre-pandemic period, enables a comparison with the average in the base year 2015. Currently, Slovak industry in July produced a lower value by 2.8% than the average in 2015. It was a lower performance than in July in the last year before the pandemic (July 2019) or approximately the same as in the seventh month of 2018.

Overall, of the 15 monitored industries (special industrial groups)2), the majority, a total of 10, recorded a year-on-year decline. Only 5 industries had a higher production than a year ago, the decisive structures of Slovak industry have deepened the declines and the important manufacture of transport equipment was only slightly above the value of the previous year.

The current result of the sector after taking into account the growth/decrease in combination with the  sector in the structure of the industry in the seventh month was most significantly influenced by the lower production in the supply of electricity, gas, steam4) by 29.1% (contribution -4.01 percentage points/p. p. to the overall result of the industry), as well as a decrease in manufacture of metals and fabricated metal products by 7.5% (contribution -0.99 p. p.). A third drop in manufacture of computers and electronical products by 31.7% (contribution -0.86 p.p.) as well as a decrease in manufacture of rubber and plastic products by 4.8% (contribution -0.49 p.p.) or in manufacture of food and beverages by 8.5% (contribution -0.46 p.p.) had a significant impact. The performance of the industry was also hampered by the year-on-year decrease in manufacture of coke and refined petroleum products by more than 12% (contribution -0.36 p.p.)

On the contrary, the positive impact on the fact that the industry did not achieve a more significant slump was influenced by the increase in performance in other manufacturing and and repair of machinery and equipment by 14.9% (contribution +0.48 p.p.), as well as manufacture of electrical equipment by 5.3% (contribution +0.40 p.p.). A growth in the significant manufacture of transport equipment was only a minimal 1% (contribution +0.20 p.p.). While the first holiday month is also affected by possible year-on-year changes in holiday shutdowns among the large producers.

In terms of structure according to the main industrial groupings, the production of consumer durables decreased by more than a quarter year-on-year, as well as production related to energy. Production for intermediate consumption had a lower decrease by 5.2% and production of non-durable consumer goods by more than 2%. The production of investment funds was also in negative numbers at the level of 2.7%.

On a month-on-month basis (compared to June 2022 after seasonal adjustment), industrial production rose by 1.2%.

In summary, for the whole first seven months of 2022, industrial production dropped by 3.7% year-on-year. Overall, the majority of the 15 monitored industries were still in negative numbers, but the overall cumulative balance was still below last year's level. The most significant impact on the dynamics of development had a decrease in the supply of electricity, gas, steam by 22.4% (contribution -3.06 p.p.) and a slowdown in manufacture of transport equipment by 6.3% (contribution -1.54 p.p.).

  • 1) The indicator expresses the change in the volume of production in kind. The data are adjusted by the number of working days by the DEMETRA+ program, the data from the beginning of the time series are adjusted every month.
  • 2) Structure of industry according to the Statistical Classification of Economic Activities- NACE Rev. 2 consists of three sections - Mining and quarrying, Manufacturing and Electricity, Gas and Air Conditioning Supply. Manufacturing is further divided into 13 divisions, or individual industrial groupings.
  • 3) The contribution represents a hierarchical distribution of the current value of an increase or decline of the whole industry into individual industries / industrial groupings. They take into account not only a % percentage increase or decline in production, but also the weight (share) of the industry in the Slovak industry.
  • 4) The exact names of the individual industries as well as their special industrial groupings are in the METHODOLOGY.

Data source-DATAcube. Database:

  • :

  • Lamačská cesta 3/C
  • 840 05 Bratislava 45

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