Production in wood manufacturing went up in March

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Employees at an Arcwood (Peetri Puit) factory in Põlva. Prices in manufacture of wooden products saw an increase in July. Source: (Jaanus Lensment/Postimees/Scanpix)

In March 2021, the total production of industrial enterprises increased by 2 percent year on year, data from Statistics Estonia shows. Production increased by 9 percent in the energy sector and by 2 percent in manufacturing, but decreased in mining by 26 percent.

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.

Helle Bunder, analyst at Statistics Estonia, said in March, year-on-year growth was recorded in two-thirds of manufacturing activities, but it should be considered that production had decreased in March 2020 due to the coronavirus pandemic.

"Among the activities with larger shares, production grew the most in the manufacture of wood, by 12.2 percent. There was also growth in the production of shale oil, building materials and metal products, while production decreased in the manufacture of food products, electrical equipment and computers and electronic products," Bunder said.

Change in volume index of industrial production by economic activity, March 2021 (%). Source: Statistics Estonia.

Of the total production of manufacturing, 68 percent was sold to the external market. The share of export sales was the largest in the manufacture of pharmaceuticals and the manufacture of computers and electronic products. According to unadjusted data, the sales of production for export increased by 10 percent and sales to the domestic market by 8 percent year on year.

In March compared to February, the seasonally adjusted total industrial production increased by 4 percent and the production of manufacturing by 5 percent.

In energy production, the volume of electricity production (in megawatt-hours) increased by 3 percent and the production of heat by 11 percent compared to March 2020.

The volume index and trend of production in manufacturing, January 2021 - March 2021 (2015=100). Source: Statistics Estonia.

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Editor: Helen Wright

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