Industrial production decreased a little in January
According to Statistics Estonia, in January 2012, the production of industrial enterprises decreased 0.5% compared to the same month of the previous year. The slowdown in the growth was caused by the fall in the production of electricity.
Compared to January 2011, the production of electricity decreased 21% and the production of heat fell 7%. The decrease in electricity production was caused by the growth of import from Finland due to the lower price of electricity in Nordic countries.
In January 2012, the production of manufacturing increased by 3% compared to January of the previous year. Export sales influenced the growth in production the most – more than 70% of the whole production of manufacturing was sold on the external market. Export sales of the manufacturing production grew 7% compared to January 2011.
In January, production exceeded the volume of the same month in the previous year in most branches of industry. Among the branches of industry holding larger shares, production grew in the manufacture of wood, food products and electrical equipment, by 11%, 2% and 25% respectively. Production decreased in the manufacture of electronic and metal products and motor vehicles.
In January 2012, compared to December, the seasonally adjusted total industrial production increased 2%; in manufacturing, production grew 4%.
The volume index and trend of production in manufacturing, January 2003 – January 2012 (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 | 2.4 | 2.1 | -0.5 |
| Energy production | -1.4 | -15.3 | -15.3 |
| Mining | 1.3 | 0.3 | 0.3 |
| Manufacturing | 4.3 | 5.3 | 2.5 |
| manufacture of computer, electronic and optical products | 53.0 | -4.9 | -7.4 |
| manufacture of wood and wood products | -0.8 | 13.5 | 10.9 |
| manufacture of food products | -2.4 | 4.1 | 2.3 |
| manufacture of fabricated metal products | -8.8 | -3.4 | -7.0 |
| manufacture of electrical equipment | 5.4 | 24.8 | 24.8 |
| manufacture of chemicals and chemical products | 13.3 | 11.4 | 8.0 |
| manufacture of motor vehicles | 8.2 | -11.0 | -13.1 |
| manufacture of machinery and equipment | -11.0 | 19.1 | 14.8 |
| manufacture of furniture | -6.8 | 5.4 | 1.7 |
| manufacture of building materials | -1.9 | 17.6 | 13.2 |
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.