In July, wood manufacturing had the biggest impact on the producer price index
In July 2021, 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, increased by 4.0% compared to June 2021 and by 14.8% compared to July 2020.
According to Eveli Šokman, leading analyst at Statistics Estonia, compared to both this year’s June and last year’s July, the index was affected the most by price increases in the manufacture of wood and wood products. “Compared to July 2020, prices in the wood processing industry rose by 31.8%,” added Šokman.
In addition to price growth in the manufacture of wood and wood products, a significant impact on the index came from higher prices of electricity and metal products, also compared to June of this year and July of last year.
In July, compared to June, the export price index rose by 2.3%. The biggest price increases occurred in electricity production, in the manufacture of wood products, and in the manufacture of paper and paper products. Prices fell the most in the manufacture of wearing apparel, in the manufacture of electronic equipment and in textile manufacturing. The export price index has been rising for ten consecutive months. Compared to July 2020, the export price index increased by 14.9%
The import price index rose by 2.3% in July compared to June. Prices increased the most in electricity production, in mining and quarrying and in the manufacture of wood products. The biggest price decreases occurred in the manufacture of footwear, in the manufacture of agricultural products and in the manufacture of wearing apparel. The import price index has been on the rise for eight months in a row. Compared to July 2020, the import price index increased by 14.2%.
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.
For further information:
Kaia-Liisa Tabri
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 507 0521