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Tuesday | March 9 | 2021

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 Mayindustrial 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.

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