In March the rapid growth of industrial production continued
According to Statistics Estonia, in March 2011 the production of industrial enterprises grew 33% compared to March of the previous year. The production showed a 30% growth for the seventh month in succession compared to the same month of the previous year.
The growth of production has been mainly influenced by the increase in external demand as previously, but the domestic demand also increased compared to March of the previous year.
In March 2011, the production of manufacturing increased 42% compared to March 2010. Export sales of the manufacturing production grew significantly (71%). About three quarters (73%) of the whole production of manufacturing was sold on the external market. The demand on the domestic market was continually lower – the domestic sales increased 20% compared to March of the previous year.
In March, the production exceeded the volume of the previous year in most branches of industry. The manufacturing of electronic products increased by more than four times compared to March of the previous year. This branch accounted for a quarter of the total production in manufacturing. The branches holding bigger shares were also the manufacturing of wood and metal products where the production grew 27% and 24%, respectively. With respect to the branches of manufacturing holding smaller shares, the production increased considerably in the manufacturing of chemicals, machinery and equipment mainly due to the increase in exports.
In March 2011 compared to February, the seasonally adjusted industrial production as well as manufacturing grew 3%.
In March 2011 compared to March 2010, the production of electricity increased 6% and the production of heat decreased 3%.
The volume index and trend of production in manufacturing, January 2002 – March 2011 (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 | 2.8 | 32.7 | 32.7 |
| Energy production | 4.8 | 2.5 | 2.5 |
| Mining | 9.0 | 3.8 | 3.8 |
| Manufacturing | 2.8 | 41.5 | 41.5 |
| manufacture of computer, electronic and optical products | 7.6 | 330.5 | 330.5 |
| manufacture of wood and wood products | 5.3 | 27.2 | 27.2 |
| manufacture of food products | -0.2 | 0.1 | 0.1 |
| manufacture of fabricated metal products | 0.3 | 23.8 | 23.8 |
| manufacture of electrical equipment | 10.3 | 32.3 | 32.3 |
| manufacture of chemicals and chemical products | -1.8 | 52.4 | 52.4 |
| manufacture of motor vehicles | -8.0 | 28.9 | 28.9 |
| manufacture of machinery and equipment | 1.8 | 45.2 | 45.2 |
| manufacture of rubber and plastic products | 0.9 | 15.6 | 15.6 |
| manufacture of building materials | -1.3 | 4.1 | 4.1 |
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.