Producer price index of industrial output down by 3.9% from last year
The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, fell by 0.4% in March 2024 compared with February and by 3.9% compared with March last year.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with February, the producer price index was primarily affected by price decreases in electricity production and in the manufacture of metal products. “Rising prices in the manufacture of fuel oils, electrical equipment and chemicals had the opposite effect on the index,” added Šokman.
Compared with March 2023, the producer price index was affected the most by price decreases in electricity and heat energy production, in the manufacture of wood and wood products, and in the manufacture of metal products. The index was also influenced by price increases in the manufacture of electronic equipment and in the repair of machinery and equipment. Producer prices decreased by 2.0% in manufacturing as a whole and by 3.6% in the manufacture of food products.
In March, the export price index rose by 0.4% compared with February. The biggest price increases were recorded in mining and quarrying, for petroleum products, and for agricultural products. Prices fell the most for electricity, other non-metallic mineral products, and rubber and plastic products. Compared with March 2023, the export price index fell by 4.1%.
The import price index declined by 0.4% in March compared with February. Prices fell the most for electricity, in mining and quarrying, and for chemicals and chemical products. The greatest increase was registered in the prices of wearing apparel, agricultural products, and wood products. Compared with March 2023, the import price index decreased by 2.3%.
Statistics Estonia collects and analyses data for the producer price index of industrial output, export price index and import price index for the Ministry of Economic Affairs and Communications, to understand how the Estonian economy is doing.
See also the prices section on our website.
More detailed data have been published in the statistical database.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee