Industrial production up 0.8% in August
According to Statistics Estonia, in August, the total production of industrial enterprises increased 0.8% at constant prices compared with August 2021. Output rose in two of the three sectors – up 10.2% in electricity production and as much as 121.4% in mining – but fell 3.7% in manufacturing.
Helle Bunder, analyst at Statistics Estonia, said that manufacturing showed some signs of recovery in August after the summer holiday month of July. “In the mining industry, record growth was recorded in peat production thanks to favourable weather conditions,” Bunder pointed out.
The volume of industrial production1 decreased in half of the manufacturing activities. Among the activities with larger shares, output fell in the manufacture of wood (9.5%), fabricated metal products (11.0%), and building materials (12.0%). Among the larger industries, there was an increase in production in the manufacture of electronic products (9.0%), shale oil (20.3%), and machinery and equipment n.e.c. (19.2%). Manufacture of food products (0.4%) remained almost unchanged.
In August 2022, compared with the same month last year, sales of manufacturing production2 grew 14.2% at current prices and according to working-day adjusted data. Export sales increased 14.3% (20.5% in the euro area and 6.4% in the non-euro area) and domestic sales was up 14.1%. 66.2% of the total production of manufacturing was sold to the external market.
In August compared with July, the seasonally adjusted total industrial production increased 5.0% and the production of manufacturing 4.6%.
In energy production, compared with August 2021, the volume of electricity production (in megawatt-hours) increased 28.6%, while the production of heat decreased 11.3%.
1Volume index of industrial production – an index that expresses the change in the volume of industrial production at constant prices compared with the base period. The producer price index is used for calculating the production values at constant prices.
2 Value index of industrial sales – an index that expresses the change in the value of sold industrial production at current prices compared with the base period.
Industry is the largest sector of the economy and an important driver of economic growth. The index of industrial production covers the economic indicators of three industrial activities: mining, energy production, and manufacturing.
Statistics Estonia performs the statistical activity “Production indices” for the Ministry of Economic Affairs and Communications with the aim to determine the economic situation in Estonia.
Information about various industrial activities can be found on the business dashboards.
See also the dedicated section on industry.
More detailed data have been published in the statistical database.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9191