Industry

Industry is the largest sector of the economy and an important driver of economic growth. Industrial enterprises create many jobs and provide opportunities for other types of business as well.

Industry is a sector of the economy which covers

• mining and processing natural resources;
• energy production and manufacture of equipment, machinery and products;
• processing of agricultural products;
• processing of manufactured products.

Statistics Estonia collects and publishes economic indicators for three industrial activities – mining, energy production and manufacturing. The mining industry involves mining, quarrying and processing minerals. The energy industry covers the production and supply of electricity, heat and natural gas. In manufacturing, materials, substances and components are made into new finished or semi-finished products, which can be used in further production processes.

The volume and value indices of industrial production show changes in volumes and prices of industrial production over time by economic activities. The indices help to assess the situation of industry in Estonia. More than a half of Estonia’s industrial production is exported. We publish export indices of industrial production (as a total and separately for euro area and non-euro area) and indices for the sales of industrial production on the domestic market.

Statistics Estonia publishes the following data for industrial enterprises:

• turnover;
• costs;
• profits;
• assets;
• liabilities;
• equity;
• investments;
• volume of industrial production.

The most important objective of industry statistics is to describe the economic cycle of industry and measure change in the value added of production, which can be used in assessing GDP change. Analyses of industry data allow forecasting crucial changes in the economy, assessing the market situation helps to increase competitiveness of the sector and business efficiency.