In October the growth of industrial production was the biggest of this year
According to Statistics Estonia, in October 2010 the production of industrial enterprises grew 37% compared to October of the previous year.
The moderate growth reported at the beginning of 2010 was followed by a rapid increase in spring; in summer enterprises gave over 20% and in September slightly over 30% more production than in the corresponding months of 2009. The growth in October was the biggest during this year. The growth of production has been mainly influenced by the increase in external demand as previously.
In October, the production of manufacturing increased about 40% compared to October 2009. Export sales of the manufacturing production increased significantly (54%). More than two thirds of the whole production of manufacturing was sold on the external market. The demand on the domestic market was considerably lower — the domestic sales increased 13% compared to October of the previous year.
In October, the production exceeded the volume of the previous year in most branches of industry. The growth in the production of manufacturing was most influenced by the branches holding bigger shares — manufacturing of electronic products where the production increased by more than four times, and manufacturing of wood where the production grew by a quarter. With respect to the branches of manufacturing holding smaller shares, the production increased considerably in the manufacturing of motor vehicles, machinery and equipment mainly due to the increase in exports. The rapid growth in production was partly also influenced by the low reference base in 2009; this effect will last until the end of 2010. Regardless of the rapid increase, the summed up ten months’ industrial production just reached the level of 2005.
In October 2010 compared to September, the seasonally adjusted industrial production rose 5%; the production of manufacturing grew 6%.
In October 2010 compared to October 2009, the production of electricity increased 65% and the production of heat fell 7%. The increase in energy production was mainly caused by a growing demand for energy induced by more active manufacturing as well as by the growth in the exports of electricity.
The volume index and trend of production in manufacturing, January 2000 – October 2010 (2005 = 100)
| Economic activity | change compared to the previous month according to seasonally adjusted dataa | change compared to the corresponding month of the previous year | |
|---|---|---|---|
| according to unadjusted data | according to working-day adjusted datab | ||
| TOTAL | 4.8 | 33.8 | 37.4 |
| Energy production | 1.9 | 32.1 | 32.1 |
| Mining | 2.3 | 6.5 | 8.2 |
| Manufacturing | 5.8 | 35.5 | 39.5 |
| manufacture of food products | 0.1 | 1.6 | 3.3 |
| manufacture of wood and wood products | 3.5 | 25.0 | 28.1 |
| manufacture of fabricated metal products | 15.3 | 10.4 | 14.4 |
| manufacture of computer, electronic and optical products | 6.7 | 312.0 | 324.8 |
| manufacture of electrical equipment | 2.0 | 27.4 | 32.1 |
| manufacture of chemicals and chemical products | 10.9 | 27.2 | 31.0 |
| manufacture of motor vehicles | 13.3 | 152.2 | 160.3 |
| manufacture of rubber and plastic products | 6.7 | 13.0 | 17.6 |
| manufacture of building materials | 1.8 | 8.4 | 11.0 |
a In case of the seasonally adjusted volume index, the impact of the differing numbers of working days in a month and seasonally recurring factors has been eliminated. It is calculated only in comparison with the previous period.
b In case of the working-day adjusted volume index, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.