Money Buzz! Europa

Tag: industry slovakia

  • Slovak car production was less than half of its last year’s production in May

    Slovak car production was less than half of its last year’s production in May

    Despite the fact that the performance of Slovak industry in May 2020 compared with April 2020, increased by almost 20 %, the total industrial production of the Slovak Republic reached only two thirds of the volume compared with last May. 

    In May, industrial production decreased by 33,5 %, year-on-year. The development was affected by a drop in manufacturing by 37,6 %, in electricity, gas, steam and air-conditioning supply by 5 % and in mining and quarrying by 9 %.

    The overall result was most significantly affected by the year-on-year drop in the production of transport equipment was by 56,9 %. The overall result was also favorably affected by high growth in the production of coke and refined petroleum products, which, however, is related to last year’s production shutdown of one of the large producers.

    From the total of 3 sections and 13 specific groupings of the industrial sectors, 8 groupings recorded a larger decrease in May by 25 %.

    As regards the specific groupings of the industrial sectors, which contributed the most to the total production fall, the most significant decrease was recorded in manufacture transport equipment by 56,9 %, manufacture of rubber and plastic products and other non-metallic mineral products by 35,5 %, manufacture of basic metal and fabricated metal products except machinery and equipment by 32,6 %, manufacture of electrical equipment by 42,2 % and manufacture of machinery and equipment n.e.c. by 32,8 %.

    The whole production was affected by a growth in manufacture of coke and refined petroleum products by 125,2 % which is, however, due to the last year´s low performance of the sector.

    Compared with May, in terms of the main industrial groupings, production of investment goods dropped by 48,9 %, production of durable products by 39,8 %, production of intermediate goods by 31,4 % and production of non-durable consumer goods by 19,3 %. Production related to energy was higher by 6,5 %.

    After seasonal adjustment, industrial production increased by 19,7 % in May 2020 compared with April 2020.

  • Industrial production at an all time low in Slovakia

    Industrial production at an all time low in Slovakia

    In April, industrial production reached the historical minimum since the establishment of the independent Slovak Republic, decreasing by 42 % year-on-year.

    This fall was mainly affected by a sharp decrease in manufacture of transport equipment by 78,9 %.

    This situation was significantly influenced by a cessation or restriction of the production at four Slovak car manufacturers as well as the production restrictions at subcontractors in the car industry as a whole, which responded to the measures taken against the spread of the COVID-19 in Europe.

    The most significant drop was recorded in manufacture of transport equipment

    The most significant drop was recorded in manufacture of transport equipment by 78,9 %, manufacture of rubber and plastic products and other non-metallic mineral products by 42,9 %, manufacture of machinery and equipment n.e.c. by 34,5 %, manufacture of metal and fabricated metal products except machinery and equipment by 26,2 % and manufacture of electrical equipment by 41,8 %.

    Compared with April 2019, in terms of the main industrial groupings, production of investment goods decreased by 62,8 %, production of durable consumer goods by 52,7 %, production of intermediate goods by 32,2 %, production of non-durable consumer goods by 30,3 % and production relating to energy by 5,1 %.