Industrial enterprises are recovering from the crisis
Industry is the largest sector of the economy and an important driver of economic growth. The index of industrial production covers the economic indicators of three industrial activities: mining, energy production and manufacturing.
Helle Bunder, analyst at Statistics Estonia, noted that May was the month last year when manufacturing volumes decreased the most due to the coronavirus pandemic. “In connection with the low reference base, manufacturing production has increased by 18.5% year on year,” said Bunder.
Production increased in all manufacturing activities. Among the activities with larger shares, as in April, production grew in May in wood manufacturing (by 17.6%) as well as for the manufacture of metal products (by 20.6%), shale oil (by 16.6%), chemical products (by 12.2%), furniture (by 35.6%) and building materials (by 27.8%). There was also growth in the manufacture of electronic products (1.0%) and in food manufacturing (3.1%).
Of the total production of manufacturing, 66% was sold to the external market. The share of export sales was the largest in the manufacture of pharmaceuticals and the manufacture of computers and electronic products. According to unadjusted data, the sales of production for export increased by 31% and sales to the domestic market by 21% year on year.
In May compared to April, the seasonally adjusted total industrial production decreased by 2%, while the production of manufacturing stayed at the same level.
In energy production, the volume of electricity production (in megawatt-hours) increased by 39% and the production of heat decreased by 5% compared to May 2020.
Statistics Estonia performs the statistical activity “Production indices” for the Ministry of Economic Affairs and Communications with the aim to determine the economic situation in Estonia.
Information about different industrial activities can be found on the business dashboards.
See also the dedicated section on industry.
More detailed data have been published in the statistical database.
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