Industrial sector output up by some 40 percent since 2010

In October 2017, the volume of industrial output grew by 7.6 percent year-on-year, while in the period January-October 2017 output increased by 5.4 percent. Since January 2010 and the beginning of 2014, the sector’s output gained 37 percent and 20.3 percent, respectively, in Hungary. The latter figure places Hungary as first in terms of industrial output growth within the region, and it is well above the 7.9 percent average increase in the European Union.

Out of economic sectors, the output volume at manufacturers, the sector with the largest weight, added 8.2 percent to the overall increase, while mining and quarrying contributed with growth of 48 percent. Output was higher in all but one industrial sub sectors. With 3.5 percent year-on-year growth, motor vehicle manufacturing was the most successful sector as output has been doubled since 2010. In the observed period, output at rubber products manufacturers, a sector closely related to the car industry, increased by 13.9 percent.