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Industrial production in September 2022
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Industrial production in September 2022

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The performance of the SR industry remained in negative numbers even after the end of the holiday season, due to the increasing manufacture of transport equipment

The September´s production of SR´s industry was also affected by the significant fluctuation of high minuses and pluses in the balance of individual sectors. The overall performance remained below last year's level, it was approximately the same as in August. The decisive car production continued for the second month to be in highly positive numbers and significantly improved the balance of the entire sector.

Industrial production1) in September 2022 decreased by 1.9% year-on-year, the industry lagged behind the performance of a year ago, similarly to August, but the rate of decline was lower than in July or in the spring months. The assessment of the industry´s performance over a longer period of time allows comparison with the average in the base year 2015. Currently, the Slovak industry in September 2022 produced by 6.9% higher value than the average in 2015. It was a worse performance than in September 2021, and significantly lower than in September 2020 or 2019, when performances exceeded the level of 2015 by more than 10%.

In total, out of the 15 monitored industrial sectors (special industrial groups)2), 8 were growing, even in the ninth month, despite the fact that the overall result of the sector remained in decline. The decisive sectors of the Slovak industry showed a year-on-year lower performance, with the exception of the decisive car production, which, with its higher year-on-year performance, prevented significant declines in industry for the second month.

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 ninth month was most significantly affected by lower production in supply of electricity, gas, steam4) by almost 34% (contribution3) -4.67 percentage points/p. p. to the overall result of the industry). However, the second most important impact was the growth of manufacture of transport equipment by 22.6% (contribution +4.47 p.p.), which significantly improved the balance of Slovak industry for the second consecutive month. This was followed by the impact of decreases in manufacture of basic metals and fabricated metal products by 10.8% (contribution -1.33 p.p.), as well as in manufacture of rubber and plastic products by 8.5% (contribution -1 p.p.). The September result was also influenced by a dynamic decrease in manufacture of chemical products by 42.5% (contribution -0.92 p.p.) and manufacture of computers (including electronic and optical products) continued to lag behind in the double-digit figures from the previous months.

The overall balance was positively affected by the double-digit growth in manufacture of electrical equipment, and especially the 30% year-on-year growth in manufacture of coke and petroleum products.

In terms of structure according to the main industrial groupings, production related to energy decreased by more than a quarter year-on-year, single-digit decreases were also recorded in production for intermediate consumption and production of durable consumer goods. Also in September, production of capital goods (by more than 10%) and, to a lesser extent, production of non-durable consumer goods (a growth of almost 6%) was above the level of the same month last year.

Month-on-month (compared to August 2022), seasonally adjusted, industrial production decreased by 0.8%.

In total, for the first 9 months of 2022, industrial production decreased by 3.3% year-on-year. In total, out of 15 monitored sectors, 8 sectors recorded negative numbers and 7 had a cumulative performance, which was higher than a year ago since the beginning of the year. The most significant impact on development was a decrease in electricity, gas, steam supply by 24.5% (contribution -3.36 p.p.), as well as in manufacture of metals and metal structures by 3.2% (contribution -0.38 p.p.) and the third place is a decrease in manufacture of transport equipment by 1.6% (contribution -0.38 p.p.). At the same time, the most significant positive impact was a growth of production in manufacture of electrical equipment by 9.3% (contribution +0.66 p.p.), as well as in other manufacture and repair of machinery by 8.9% (contribution +0.30 p.p.).

As for the structure according to the main industrial groupings, production related to the energy was lower by a fifth, insignificant declines were also recorded in production of durable consumer goods and production for intermediate consumption year-on-year. However, production of non-durable consumer goods recorded positive numbers and the aggregate production of capital goods was approximately at the level of the last year.

  • 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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