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Turnover in selected sectors of economy in March 2021

Turnover in selected sectors of economy in March 2021

Last update: 12.05.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Comprehensive products
Publish Date: 12.05.2021


Industry and transport turnover rose sharply in March, by the growths beating the pre-Covid level

In addition to the highly positive turnover growth in industry and transportation in March 2021, year-on-year higher turnover was also achieved in the information and communication and construction sectors. Selected market services were still in decline, the lag currently slowing to 4,2 %.

The comparison base in March 2021 is last year's March, which was the first month of a significant turnover drop after the onset of the pandemic, which in the spring of 2020 disrupted production in the largest enterprises, closed service operations, and restricted traffic.

The current increase in turnover in March 2021 thus reached up to 31,4 % in industry, and even two thirds in the manufacture of transport equipment. The increase is significantly higher than the drops recorded last year in March, in the whole industry by 20 % and in the manufacture of transport equipment by 36,5%. At the same time, current turnover in industry was higher by 5,1 % than in March two years ago (2019).

High growth by 18 % was also in transport after two months of decline this year. Here, similarly, growth was significantly higher than the fall by 7,6 % last March.

After 13 months, construction (by 2,9 %) as well as the information and communication sector (by 6,4 %) also reached positive numbers. Selected market services still remain in year-on-year decline, currently by more than 4 %. Of the specific activities in services, the largest decrease in turnover was recorded by the activities of travel agencies, by almost 30 %.

Development in March 2021 compared to February 2021 1)

In March, month-on-month turnover increased in all sectors, indicating a recovery compared to the  weaker start of the year. Turnover in construction increased the most by 11,7 %. In transportation and storage by 10 %, in industry by 3,5 % and in information and communication and in selected market services equally by 2,1 %.

Development in March 2021 compared to March 2020

Turnover in industry increased by 31,4 % year-on-year in March, growing mainly due the two most influential sectors of industry, namely the manufacture of transport equipment by 64,5 % and the manufacture of metals by 27,4 %. These two sectors were already affected by the pandemic in March 2020, but current growth is higher than last year's declines. For a more accurate picture, it is necessary to note to what extent the current amount of turnover differs from the situation before the outbreak of the pandemic. This March´s turnover was higher by 16,4 % than in February 2020, in the last pre-pandemic month.

The overall increase in turnover was supported by an increase in fourteen of the 16 monitored components of industry 2). There was also a significant increase in turnover in manufacture of rubber and plastic products by 25 %, which is also partly related to the increased manufacture of transport equipment. The overall growth was also influenced by the increased manufacture of machinery n.e.c by 29,6 % and computer products by 36,5 %. Only two components recorded a decline, the manufacture of chemicals and the manufacture of pharmaceutical products, which, on the other hand, recorded high year-on-year growth in March last year.

Turnover in construction rose again after a year-on-year decline, increasing by 2,9 % year-on-year in March 2021. In the same period last year, they were in decline by 5,7 %.

Turnover in transportation and storage 3) was higher by 18 % year-on-year in March 2021, while declining since the end of 2019, with the exception of December last year. The increase was affected by a double-digit turnover growth in the three most significant activities of the industry.

After ten months of decline, turnover also increased in information and communication (ICT) activities 4) by 6,4 %, which was supported by a turnover increase, especially in the most important components, namely in computer programming and telecommunications. Last year in March, turnover of this sector (ICT) was not yet affected by the pandemic.

Last March was the first month when the COVID-19 pandemic affected turnover of selected market services 5) and after long-term growth they began to decline year-on- year (in March 2020 a drop by 7,7 %). This March´s decline was at the level of 4,2 %. The activities of travel agencies and offices which were the most affected by the pandemic currently decreased by 29,4 % (in the same period last year there was a drop by 53,9 %). A turnover drop of over 20 % was also recorded in arts, entertainment and recreation, of which in gaming and betting activities by 22,3 %. In March last year, in both cases, there was a decrease up to 10 %.

Development over the first three months of 2021 compared with the corresponding period in 2020

Since the beginning of the year, turnover in industry rose by 7,8 %, year-on-year, there was a most significant increase in manufacture of transport equipment by 14,4 % and in manufacture of metals by 12,6 %.

In the first quarter of 2021, turnover of construction subjects decreased by 13,5 % year-on-year and turnover in transportation and storage increased by 4,2 %. At the same time, in the first quarter of 2021, turnover in information and communication activities increased by 1.4 %, and in selected market services it decreased by 10,8 %.

Note: preliminary data; according to the monthly survey; the indices in industry, construction and in selected market services have been calculated from constant prices using the base year 2015; in transportation and storage; in information and communication, the indices are calculated from the current prices
1) From seasonally adjusted data
2) According to the statistical classification of economic activities SK NACE Rev. 2 the structure of the industry consists of four sections - Mining and quarrying, Industrial production, Supply of elec-tricity, gas, steam and air-conditioning and Water supply; sewerage and waste management. Industrial production is further broken down into 13 special groupings of industries.
3) Section Transportation and storage includes the following divisions: land transport and transport via pipelines; water transport; air transport; warehousing and support activities for transportation; postal and courier activities
4) Section Information and communication activities includes the following divisions: publishing activities; motion picture, video and television program production, sound recording and music publishing activities; programming and broadcasting activities; telecommunications; computer programming, consultancy and related activities;
5) Selected market services include activities such as real estate activities; professional, scientific and technical activities; administrative and support service activities; arts, entertainment and recreation; other service activities and division other education and educational support activities


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