The rise in industrial production volumes slowed down in January
According to Statistics Estonia, in January 2022, the total production of industrial enterprises increased by 1.4% compared to January 2021. Production increased by 1.8% in manufacturing and by 3.9% in mining. Energy production was almost at the same level and grew by just 0.2% year on year.
Helle Bunder, analyst at Statistics Estonia, said that, among the activities with the largest shares, there was an increase in production in the manufacture of electronic products (17.7%), electrical equipment (16.2%), food products (0.9%) and fabricated metal products (1.1%). “Production volumes fell in the manufacture of wood (4.0%) and in the manufacture of plastic products (5.3%),” added Bunder.
“The growth of industrial production is hindered by the rapid increase in prices,” explained Bunder. In January 2021, the value of production of manufacturing was 819 million euros at current prices, whereas in January this year it was already 1,094 million euros, meaning that the increase was 33.5% at current prices.
68.9% 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 26.3% and domestic sales by 17.7% compared to January 2021.
In January compared to December, the seasonally adjusted total industrial production fell by 6.1% and the production of manufacturing by 5.0%.
In energy production, compared to January 2021, the volume of electricity production (in megawatt-hours) increased by 22.9% but the production of heat decreased by 11.3%.
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:
Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181