Statistics: Industrial output index down 4.4 percent on year to August

Employees at a dairy producer in Estonia (photo is illustrative).
Employees at a dairy producer in Estonia (photo is illustrative). Source: Olev Kenk/ERR

The producer price index of industrial output fell by 4.4 percent to august 2023, state agency Statistics Estonia reports.

The PPI expresses changes in the producer prices of industrial goods manufactured in Estonia, both for the domestic market and for export.

Between July and August this year, the index rose by 0.1 percent.

Eveli Šokman, lead analyst at Statistics Estonia, said that this on-month change was mostly the result of price increases in the manufacture of fuel oils, electronic products, and fabricated metal products.

"The index was also influenced by price decreases in the manufacture of wood and timber and wooden products, and in the manufacture of food products," Šokman added.

On month, the index was most affected by price falls in electricity generation and in the manufacture of wooden items and of fuel oils.

Rising prices in the manufacture of electrical equipment and food products exerted the opposite effect on the index.

Export price index

The export price index fell by 2.7 percent on year to August 2023, Statistics Estonia reports.

In August, the export price index rose by 0.9 percent compared with July.

The largest price increases were posted in electricity production, the manufacture of petroleum products, and mining and quarrying.

Prices fell the most in respect of clothing apparel, paper and paper products, and food products.

Industrial output, exports and imports. Source: Statistics Estonia

Import price index

The import price index fell by 5.2 percent on year to August, while between July and August it rose by 1.1 percent.

Prices rose the most in electricity generation, with petroleum products, and with mining and quarrying.

The largest price falls were registered in building materials, paper and paper products, and textiles.

Statistics Estonia compiled the above data on behalf of the Ministry of Economic Affairs and Communications.

More detailed information from Statistics Estonia is here and here.


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Editor: Andrew Whyte

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