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Hungary and Romania to be industrial superpowers

Staff writer ▼ | August 21, 2014
The European Statistics Office made public new data on the industrial output in the EU and Eurozone.
Industrial growth   The European Statistics Office published new data
While in the Eurozone the industrial output figures have stayed largely the same, for the European Union, as a whole, a slight increase has been reported, of 0.7% in June 2014, as compared to last year. Hungary and Romania have seen the most substantial advance of the EU member states, with rates of 11.3% and 9.9% respectively.

Next comes Slovakia, with a 7.5% increase in industry. The lowest rates were reported in Greece, Malta and Latvia, with falling rates of 6.9%, 3.8% and 2% respectively. In June 2014 compared to May, the industrial output dropped by 0.3% in the Eurozone and by 0.1% in the EU. Romania reported a 0.7% decline in its industrial output in June this year compared to the previous month, when it had seen a 2.7% increase.

While the news about industrial performances is good, not the same is true as far as direct foreign investments are concerned. In Romania, they totaled nearly 1.2 billion Euros in the first half of this year, which means 10.3% less than in the corresponding period of last year.