Statistics Estonia: May's industrial production growth remains slow

In May, production volumes increased in over a half of Estonia's manufacturing activities,
In May, production volumes increased in over a half of Estonia's manufacturing activities, Source: Postimees/Scanpix

According to data provided by Statistics Estonia, in May 2022, the total production of industrial enterprises increased by 4.8 percent at constant prices in comparison to May 2021. Output increased in all three industrial sectors, with manufacturing growing by 2.2 percent, electricity production up 34.2 percent and a 25.5 percent rise in mining.

Helle Bunder, analyst at Statistics Estonia, said that May was similar to April, in that manufacturing was slow. However, Bunder added that, "Output increased in mining due to the extraction of peat and also in the energy sector due to the rising domestic electricity production."

Volume index and trend of production in manufacturing, January 2010 - May 2022 Source: Statistics Estonia

In May, over half of Estonia's manufacturing industries saw an increase in production volumes, though there were several larger areas in which output levels remained unchanged or decreased.

There were increases in the manufacture of electronic products (20 percent), electrical equipment (19.2 percent) and a 19 percent growth in machinery and equipment n.e.c. Output remained more or less the same in the manufacture of fabricated metal products, which grew by just 0.3 percent and food products, up by 0.8 percent. However, output from the manufacture of wood decreased by 1.6 percent.

Change in volume index of industrial production compared to corresponding month of previous year (adjusted according to number of working days) Source: Statistics Estonia

67.2 percent of Estonia's total manufacturing output was sold to external markets, with computers and electronic products accounting for the highest share of export sales. According to unadjusted data, export sales increased by 31 percent and domestic sales by 27.2 percent on year, at current prices.

The seasonally adjusted total for industrial production fell by 0.3 percent in May, compared to April, and the production of manufacturing also saw a 2.2 percent decrease.

In the energy sector, the volume of electricity production (in megawatt-hours) increased by 88.4 percent from April to May, while heat production dropped by 3.2 percent. 

More detailed information about industrial activities in Estonia can be found here and here.


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Editor: Michael Cole

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