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Industrial production in March 2021

Industrial production in March 2021

Last update: 10.05.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Industry
Publish Date: 10.05.2021

In March 2021, industrial production increased by a quarter year-on-year, it was driven mainly by the car manufacturers

The production of transport equipment exceeded the volume of last year's production by almost 60 %. Of the fifteen industries 1), there was a year-on-year growth in thirteen, while in nine of them a significant, double-digit increase was recorded. The exceptional improvement can be attributed to last year's weak March, when the industry was already hit by the effects of the coronavirus pandemic and the rapid recovery of the demand in the third month of this year.

In March the industrial output (IP) rose by 24,5 % year-on-year. Since 2009, Slovak industry has seen more than a 20 percent growth only in May 2010, when companies based in the Slovak Republic began to recover from the effects of the global financial crisis. Last year in March, industrial production fell by 19,6 %, compared to the same month of the previous year at that time, only three out of fifteen industries showed a growth.

Last year's decline was caused by the uncertain situation, as March 2020 was the first month when many industrial companies were forced to stop production due to the COVID-19 pandemic (WHO declared it on 11 March 2020). This was reflected in a year-on-year decrease in industrial production by 19,6 % and industrial production excluding mining and energy by up to 21,4 %.

This March´s development of total industrial production affected the growth in industrial production by 25,1 %, in electricity, gas, steam and air conditioning supply by 22,1 % and in mining and quarrying by 13,4 %.

Of the individual industries that contributed the most to the overall growth in production, the most significant increase was recorded in the manufacture of transport equipment. It accelerated the growth rate from 1,6 % in February to 58,5 % in March. In this period, Slovak car rmanufacturers managed to avoid a more significant unplanned shutdown of production due to the lack of chips, which affected many global manufacturers.

The supply of electricity and gas by 22,1 % and the production of machinery n.e.c.. by 25,5 % also contributed to the overall growth of production, as well as the manufacture of metals by 16,6 % and manufacture of electrical equipment by 22,9 %. The total production was affected by a decrease in the manufacture of coke and petroleum products by 11,7 % and in the manufacture of textiles and leather by 1,7 %. Of the 15 industries 1), only these two recorded a year-on-year drop in March.

According to the main industrial groupings, compared to March 2020, the production of capital goods increased by 41,5 %, the production of durable goods by 16,2 %, the production for intermediate consumption by 16 %, the production related to energy by 15,8 % and production of non-durable goods by 7,7 %.

After seasonal adjustments, industrial production increased by 0,5 % in March 2021 compared to February 2021.

In the 1st quarter of this year, IP increased by 6,5 % year-on-year, of which in industrial production by 5,7 %, in electricity, gas, steam and air conditioning supply by 11,8 % and in mining and quarrying by 4,8 %.

Of the industries that contributed the most to the overall growth of production, the most significant increase was in the manufacture of transport equipment by 9,8 %, the supply of electricity and gas by 11,8 %, the manufacture of machinery and equipment n.e.c. by 14,9 %, manufacture of basic metals and fabricated metal products n.e.c. by 9,6 % and in manufacture of computer products by 17,2 %. Production decreased in manufacture of coke and petroleum products by 14,2 %, in manufacture of rubber and plastic products by 3,4 %, in manufacture of textiles and leather by 13,1 % and in other manufacture by 5,7 %.

According to the main industrial groupings, the production of durable goods increased by 13,9 %, the production of capital goods by 8,8 %, the production related to energy by 7 % and the production for intermediate consumption by 4.6 %. The production of non-durable goods was lower by 1,1 %.


Note: preliminary data; industrial production represents changes in a volume of production in kind. Data are adjusted from an effect the number of working days by program JDEMETRA+ and during processing of every month they are back-casted from the beginning of the time series.
1) According to the Statistical classification of economic activities SK NACE Rev. 2, the structure of the industry consists of three sections – Mining and Quarrying, Manufacturing and Electricity, Gas, Steam and Air Conditioning Supply. Manufacturing is further divided into 13 special groupings of industrial sectors
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