Producer price index of industrial output, export and import price index, July 2023
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 1.0% in July 2023 compared with June and by 3.2% compared with July last year.
Germo Valgenberg, leading analyst at Statistics Estonia, said that, compared with June, the producer price index was primarily affected by falling prices in the manufacture of wood and wood products, electronic products, and plastic products. “The index was also influenced by price increases in the manufacture of fuel oils,” added Valgenberg.
Compared with July 2022, the index was most affected by price decreases in electricity production and in the manufacture of wood and fuel oils. Rising prices in the manufacture of food products and electrical equipment had the opposite effect on the index. Producer prices decreased by 1.1% in manufacturing as a whole; in the manufacture of food products, prices rose by 5.8%.
In July, the export price index fell by 0.3% compared with June. Prices decreased the most in electricity production, in mining and quarrying, and for rubber and plastic products. The biggest price increases were recorded for wearing apparel, petroleum products, and electrical equipment. Compared with July 2022, the export price index fell by 3.0%.
The import price index declined by 0.9% in July compared with June. Prices fell the most in electricity production, in mining and quarrying, for agricultural products and for wood products. The biggest increase was registered in the prices of chemicals and chemical products, and petroleum products. Compared with July 2022, the import price index fell by 4.9%.
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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Helen Maria Raadik
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