The growth of industrial production is continuously being driven by manufacturing of electronic products
If at the beginning of the year the production of industrial enterprises grew by around 30%, then since May the growth slightly slowed down compared to the same month of the previous year. The reason for the slowdown lies in the slowly improving comparison basis.
In August 2011, the production of manufacturing increased by over a quarter compared to August of the previous year. Exports influenced the growth in production the most – more than 70% of the whole production of manufacturing was sold on the external market. The manufacturing production sold on the external market grew by 52%, and the domestic sales increased by 22% compared to August of the previous year.
In August, production exceeded the volume of the same month of the previous year in most branches of industry. Manufacturing of electronic products influenced the growth in production the most. Nearly one fourth of the total production volume of manufacturing was produced in this branch in August, which is by over two times more than in August of the previous year. The branches of industry also holding bigger shares were the manufacturing of wood, food and metal products where production grew 7%, 2% and 25%, respectively. With respect to the branches of industry holding smaller shares, production increased significantly in the manufacturing of machinery and equipment as well as in the manufacturing of electrical equipment.
In August 2011 compared to July, the seasonally adjusted total industrial production decreased 2%, in manufacturing the decrease was by 1% smaller.
Compared to August 2010, the production of electricity increased 12% and the production of heat decreased 2%.
Trends of production in branches of industry in Estonia, January 2002 – August 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 | -1.8 | 29.2 | 22.7 |
| Energy production | -2.1 | 9.9 | 9.9 |
| Mining | -1.3 | 1.9 | 1.9 |
| Manufacturing | -1.0 | 33.7 | 26.5 |
| manufacture of computer, electronic and optical products | -10.6 | 148.1 | 134.8 |
| manufacture of wood and wood products | -3.2 | 12.4 | 7.3 |
| manufacture of food products | -0.7 | 5.5 | 2.3 |
| manufacture of fabricated metal products | 5.6 | 34.5 | 24.7 |
| manufacture of electrical equipment | 7.4 | 27.9 | 27.9 |
| manufacture of chemicals and chemical products | 4.5 | 12.3 | 5.3 |
| manufacture of motor vehicles | -3.3 | 14.5 | 9.0 |
| manufacture of machinery and equipment | 10.6 | 48.7 | 38.0 |
| manufacture of rubber and plastic products | -5.1 | -0.2 | -7.6 |
| manufacture of building materials | 3.4 | 16.5 | 11.7 |
a In case of the seasonally adjusted volume index of industrial production, the impact of the differing number of working days in a month and seasonally recurring factors have been eliminated. It is calculated only in comparison with the previous period.
b In case of the working-day adjusted volume index of industrial production, 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.