Producer price index of industrial output down by 3.3% from last year
The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, fell by 0.1% in November 2023 compared with October and by 3.3% compared with November last year, according to Statistics Estonia.
Compared with November 2022, 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. Higher prices in the manufacture of electrical equipment, industrial machinery and equipment, and electronic products had the opposite effect on the index.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with October, the producer price index was primarily affected by price decreases in the manufacture of fuel oils, wood products, and industrial machinery and equipment. “The index was also affected by rising prices in electricity production and in the manufacture of plastic products and electronic products,” added Šokman.
In November, the export price index fell by 1.2% compared with October. Prices decreased the most for petroleum products, chemicals and chemical products, and agricultural products. The biggest price increases were recorded in electricity production, in mining and quarrying, and for wearing apparel. Compared with November 2022, the export price index fell by 3.5%.
The import price index declined by 0.7% in November compared with October. Prices fell the most for petroleum products, chemicals and chemical products, and textiles and wearing apparel. The biggest increase occurred in the prices of electricity, motor vehicles, and paper and paper products. Compared with November 2022, the import price index declined by 3.5%.
Statistics Estonia collects and analyses data for the producer price index of industrial output, export price index and import price index for the Ministry of Economic Affairs and Communications, to understand how the Estonian economy is doing.
See also the prices section on our website.
More detailed data have been published in the statistical database.
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For further information:
Vahur Koorits
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9204
press [at] stat.ee