Slovakia’s new industrial orders rise 12.7% y/y in November 2013

By bne IntelliNews January 17, 2014

The total value of new orders in the Slovak industry increased 12.7% y/y to EUR 3.9bn in November 2013, speeding up from a 10.5% y/y rise in October, data from the statistics office showed.

New orders in the vehicles manufacturing industry, which accounts for almost half of total orders, rose 15.1% y/y in November, accelerating from a 10.4% annual growth the month before. Slovakia hosts car plants run by Germany’s Volkswagen, France’s PSA Peugeot-Citroen and South Korea’s Kia Motors.

The manufacture of computers, electronics and optics, the second most important sector for Slovakia’s export-oriented economy, recorded an 8.1% annual increase in November following a 5.9% y/y growth in October.

On a monthly basis, seasonally-adjusted industrial orders rose 0.4% in November, following a 0.3% growth in October.

For the first eleven months of the year, the value of new industrial orders rose 2.9% y/y to EUR 39.6bn.

IntelliNews comment: The Slovak industrial orders rose for the third month in a row in November thanks to improved performance of the auto and computer manufacturing industries that are the two most important sectors for the country’s economy. Exports, industrial output and sales also showed an improvement in November. As the new orders data provides an insight into the future, we could expect the manufacturing industry to strengthen further in the near term. Slovakia’s export-fuelled economic growth slowed down to an estimated 0.9% in 2013 but is expected to accelerate to around 2% in 2014.

  Nov-13, EUR mn Nov-13, y/y change Oct-13, y/y change Nov-13, m/m change Oct-13, m/m change 2012, y/y change
Industry, total 3,895.4 12.7% 10.5% 0.4% 0.3% 13.1%
Manufacture of textiles 20.5 10.8% 6.7% -1.0% -3.4% 6.4%
Manufacture of wearing apparel 18.5 8.8% 13.2% -4.3% -1.4% -3.8%
Manufacture of paper and paper products 90.1 1.7% -0.7% -1.7% 3.7% 11.4%
Manufacture of chemicals and chemical products 146.6 -27.5% -20.6% -4.9% -4.4% -5.4%
Manufacture of pharmaceutical products and  preparations 15.6 -47.3% -43.2% -7.0% -3.6% -3.7%
Manufacture of basic metals 309.2 5.7% 6.2% 0.3% -6.2% 8.8%
Manufacture of fabricated metal products, except machinery and equipment 250.8 20.2% 29.7% -5.9% 8.2% 10.3%
Manufacture of computer, electronic and optical products 451.7 8.1% 5.9% -5.6% 6.8% -0.8%
Manufacture of electrical equipment 253.8 21.1% 20.0% 3.1% 1.5% 4.1%
Manufacture of machinery and equipment 279.5 27.2% 43.7% -8.7% -1.4% -0.5%
Manufacture of motor vehicles, trailers and semi-trailers 1,993.8 15.1% 10.4% 4.2% -0.1% 26.5%
Manufacture of other transport equipment 65.2 307.2% -12.5% 46.7% -30.2% 0.0%
Source: Statistical Office of the Slovak Republic            

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