The growth of industrial production was still slow in May
According to Statistics Estonia, in May 2022, the total production of industrial enterprises increased by 4.8% at constant prices compared to May 2021. Output increased in all three industrial sectors: by 2.2% in manufacturing, by 34.2% in electricity production and by 25.5% in mining.
Helle Bunder, analyst at Statistics Estonia, said that, similarly to April, the growth in manufacturing output was slower in May. “But output increased in mining due to the extraction of peat and also in the energy sector due to the rising domestic production of electricity,” added Bunder.
In May, production volumes increased in over a half of manufacturing activities, but there were several larger activities where output remained the same or decreased. Among the activities with the largest shares, there was an increase in production in the manufacture of electronic products (20.0%), electrical equipment (19.2%) and machinery and equipment n.e.c. (19.0%). Output remained more or less the same in the manufacture of fabricated metal products (0.3%) and food products (0.8%). Output decreased in the manufacture of wood (1.6%).
67.2% of the total production of manufacturing was sold to the external market. The share of export sales was the highest in the manufacture of computers and electronic products. According to unadjusted data, the export sales of manufacturing production increased by 31% and domestic sales by 27.2% at current prices compared to May 2021.
In May compared to April, the seasonally adjusted total industrial production decreased by 0.3% and the production of manufacturing by 2.2%.
In energy production, compared to May 2021, the volume of electricity production (in megawatt-hours) increased by 88.4%, while the production of heat decreased by 3.2%.
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 different 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