Statistics: Economy recovering, manufacturing up 18 percent on year to May

Industrial output is recovering from the crisis (picture is illustrative).
Industrial output is recovering from the crisis (picture is illustrative). Source: Priit Mürk/ERR

Industry is demonstrating signs of recovery, state agency Statistics Estonia says. The total production of industrial enterprises in Estonia rose by 16 percent on year to May, the agency reports, while manufacturing saw even higher growth

As the largest economic sector and an important driver of economic growth, these figures are significant, the agency says, with analyst Helle Bunder adding that May 2020 was the worst-hit month during the pandemic.

"In connection with the low reference base, manufacturing production has increased by 18.5 percent year-on-year," Bunder said.

The index of industrial production covers the economic indicators of three industrial activities: Manufacturing, energy and mining.

The second of these saw a 7 percent rise in production on year to May 2021, though mining actually saw a fall, by 13 percent, over the same period.

Graphs concerning manufacturing production are below.

Change in manufacturing volume index on year. Source: Statistics Estonia

 

Volume index, trend in manufacturing production, to May 2021 Source: Statistics Estonia

 

Sixty-six percent of total manufacturing output on year to May 2021 was exported. 

The share of export sales was the largest in the manufacture of pharmaceuticals and the manufacture of computers and electronic products, Statistics Estonia says, adding that according to unadjusted data, sales of production for export rose by 31 percent, while sales to the domestic market increased by 21 percent, y-o-y.

Industrial production growth figures on year to May 2021, from among significant sectors

  • Furniture - 35.6 percent.
  • Metal products - 20.6 percent.
  • Building materials - 27.8 percent.
  • Wood manufacturing - 17.6 percent.
  • Shale oil - 16.6 percent.
  • Chemical products - 12.2 percent.
  • Food manufacturing - 3.1 percent.
  • Manufacture of electronic products - 1.0 percent.

More detailed information is here, here and (in Estonian) here.

--

Follow ERR News on Facebook and Twitter and never miss an update!

Editor: Andrew Whyte

Hea lugeja, näeme et kasutate vanemat brauseri versiooni või vähelevinud brauserit.

Parema ja terviklikuma kasutajakogemuse tagamiseks soovitame alla laadida uusim versioon mõnest meie toetatud brauserist: