Industrial production volume rise slows to 1.4 percent on year to January
Total production of industrial enterprises in Estonia increased by 1.4 percent on year to January 2022, state agency Statistics Estonia reports. Inflation has curbed higher levels of growth, however, and the rate has slowed.
Production increased by 1.8 percent in manufacturing and by 3.9 percent in mining, the agency says, while energy production remained largely unchanged and grew by just 0.2 percent, year-on-year.
Helle Bunder, analyst at Statistics Estonia, said that, however: "The growth of industrial production has been hindered by the rapid increase in prices."
"Production volumes fell in the manufacture of wooden products (by 4.0 percent) and in the manufacture of plastic products (5.3 percent)," Bunder added.
The manufacture of electronic products (a rise of 17.7 percent), electrical equipment (rose by 16.2 percent), food products (0.9 percent) and fabricated metal products (1.1 percent) were the sectors with the most notable growth rates, Bunder added.
In energy production, compared with January 2021, the volume of electricity production (in MWh) rose by 22.9 percent, but the production of district heating fell by 11.3 percent.
The past, relatively cold and snowy winter has seen record energy price levels and the installation of government measures intended to mitigate the worst effects of the inflation.
In January 2021, the value of production of manufacturing stood at €819 million at current prices, whereas in January this year it had already reached €1,094 million, meaning a rise of 33.5 percent at current prices.
68.9 percent of the total production of manufacturing was exported, with the manufacture of computers and electronic products the outstanding sector.
According to unadjusted data, the export sales of manufacturing production increased by 26.3 percent, and domestic sales by 17.7 percent, compared with January 2021.
On month, i.e. between December 2021 and January 2022, the seasonally adjusted total industrial production fell by 6.1 percent; the production of manufacturing by 5.0 percent.
More detailed information is here, here and here.
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Editor: Andrew Whyte