Hungary’s industrial sector output has grown steadily over the past two years, and the 7.8 percent year-on-year growth recorded in the month of September signals that the strong upward momentum persists, Deputy State Secretary for Domestic Economy Áron Márk Lenner told public news channel M1, commenting on industrial output data released by the Hungarian Central Statistical Office (KSH).

Spearheaded by the vehicle industry, various manufacturing sub sectors showed steady output growth, along with the reviving pharmaceuticals and rubber products sectors.

The Government aims to increase the industrial output-to-GDP ratio to 30 percent by 2020; the 20 percent target of the EU has already been achieved by the country, he pointed out.

He stated that these developments also confirm that economic expansion has been well-founded and crisis-proof, and it has also generated real jobs. In 2014, the entire industrial sector expanded by more than 8 percent.

Although Germany’s industrial output slumped in September, thanks to the opening to the east and south policies the country has certain reserves; in the past years new partners could be found who purchase competitive Hungarian products.

(Ministry for National Economy)