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Statistics: Industrial output falls 3.3 percent on year to November

A factory in Estonia.
A factory in Estonia. Source: Siim Lõvi/ERR

The producer price index of industrial output fell by 3.3 percent on year to November, state agency Statistics Estonia says.

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

The index was most affected by price decreases in electricity and heat energy production, and in the manufacture of wood and wood products and paper, Statistics Estonia says.

Higher prices in the manufacture of electrical equipment, industrial machinery and equipment, and electronic products had the opposite effect on the index.

Leading analyst at Statistics Estonia Eveli Šokman said: "The index was also affected by rising prices in electricity production and in the manufacture of plastic products and electronic products."

Between October and November this year, the producer price index fell by 0.1 percent and was primarily affected by price falls in the manufacture of fuel oils, wood products, and industrial machinery and equipment, Šokman went on.

Producer price index of industrial output. Source: Statistics Estonia

Exports

The export price index fell by 3.5 percent on year to November

Between October and November, the export price index fell by 1.2 percent.

Prices fell the most for petroleum products, chemicals and chemical products, and agricultural products.

The largest price increases were recorded in electricity generation, in mining and quarrying, and for clothing apparel.

Imports

Compared with November 2022, the import price index fell by 3.5 percent.

The import price index fell by 0.7 percent between October and November.

Prices fell the most for petroleum products, chemicals and chemical products, and textiles and wearing apparel.

The largest increase was posted in the prices of electricity, motor vehicles, and paper and paper products.

Statistic Estonia conducted the above research on behalf of the Ministry of Economic Affairs and Communications.

More detailed information from Statistics Estonia is available here and here.

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Editor: Andrew Whyte

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