Industrial production in Hungary jumped 58.8 percent year-on-year in April of 2021, the biggest growth on record, due to low base effects from last year when the coronavirus pandemic hit the economy hard. In April of 2020, industrial output fell at a record 36.9 percent. Almost all manufacturing subsections contributed to the annual growth in April. The manufacture of transport equipment representing the largest weight increased outstandingly, mainly due to the low base level last year when factories shutdown. The manufacture of computer, electronic and optical products and the manufacture of food products, beverages and tobacco rose at a rate below the industrial average. source: Hungarian Central Statistical Office
Industrial Production in Hungary averaged 4.47 percent from 1991 until 2021, reaching an all time high of 58.80 percent in April of 2021 and a record low of -36.90 percent in April of 2020. This page provides - Hungary Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Industrial Production in Hungary is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Hungary to stand at 3.50 in 12 months time. In the long-term, the Hungary Industrial Production is projected to trend around 3.20 percent in 2022 and 2.50 percent in 2023, according to our econometric models.