In industry, production increased only in the energy sector
According to Statistics Estonia, in February 2021, the total production of industrial enterprises decreased by 9% year on year. Production increased only in the energy sector, by 36%, but decreased in manufacturing by 10% and in mining by 33%.
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, said that a fall in production volumes was noticeable in most manufacturing activities in February. “Among the activities with larger shares, production fell in the manufacture of food products, electrical equipment and in the manufacture of computers and electronic products. Slight growth was recorded only in the manufacture of wood. In the year-on-year comparison, it should be noted, however, that February was the month with the highest growth in manufacturing in 2020,” added Bunder.
Of the total production of manufacturing, 69% 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 decreased by 4% and sales to the domestic market by 2% year on year.
In February compared to January, the seasonally adjusted total industrial production did not change and the production of manufacturing decreased by 2%.
In energy production, the volume of electricity production (in megawatt-hours) increased by 61% and the production of heat by 23% compared to February 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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