Industrial output in Estonia up since last year

Industrial output in Estonia is up 2.1% year-on-year (y-o-y) since April last year, according to data from Statistics Estonia, though with a wide difference in performance across the four categories surveyed.

The biggest growth by far since April 2017 had been in Electricity, Gas, Steam and Air conditioning supply, which saw a 15.5% y-o-y increase in its production price index (PPI) - writes

Other sectors in the EMTAK-classified sectors to see an improvement in performance y-o-y, albeit not by much, were Manufacturing (1.5%) and Water supply, Sewage, Waste management and Remediation activities (0.8%).

These figures were affected by increases in prices in those sectors, including in the manufacture of some items such as electronic equipment and furniture, fuel oils and chemicals.

Conversely, Mining and Quarrying experienced a -6.4% contraction in its PPI during the same period.

The pattern over the last month has seen something of the reverse of the y-o-y trend. There has been a small fall in the overall PPI (-0-5%) including a fall of -7.7% in the figure for Electricity, Gas, Steam and Air conditioning supply. Most other sectors have remained fairly static since last month, though there was a -0.8% fall in PPI for Mining and Quarrying.

With regard to export prices the PPI has also risen, by 1.2% y-o-y and 0.3% since last month. Price changes on the previous month affecting this figure include oil and peat products and furniture, which all increased above the average rate, and electricity, wooden products and car parts and accessories, which all fell.

The import price index saw a similar rise of 1.7% y-o-y and 0.4% since last month, being affected by prices of leather products, footwear and oil products increasing above average, and electricity, electrical equipment and forestry products seeing a fall.

The figures from Statistics Estonia are based on a questionnaire finalised on 6 May, and are compiled and released under the auspices of the Minstry of Economic Affairs. The EMTAK classification of areas of industry is the Estonian version of the EU NACE structure.

Editor: Andrew Whyte

Source: Statistics Estonia

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