The growth of industrial production is driven by manufacturing of electronic products
According to Statistics Estonia, in July 2011 the production of industrial enterprises grew 23% compared to the same period of the previous year. The growth of production was mostly influenced by manufacturing of electronic products.
If at the beginning of the year the production grew around 30%, then since May the growth of industrial production slightly slowed down compared to the same month of the previous year. The reason for the slowdown is slowly improving comparison basis.
In July 2011, the production of manufacturing increased by over a quarter compared to July 2010. Export sales influenced the growth in production the most – more than 70% of the whole production of manufacturing was sold on the external market. The manufacturing production sold on the external market grew 51%, the domestic sales increased 9% compared to July of the previous year.
In July, the production exceeded the volume of the same month of the previous year in most branches of industry. Manufacturing of electronic products influenced the growth in production the most. One fourth of the total manufacturing production was produced in this branch in July, the production increased by nearly three times compared to July of the previous year. The branches holding bigger shares were also the manufacturing of wood, food and metal products where the production grew 6%, 6% and 25%, respectively. With respect to the branches of manufacturing holding smaller shares, the production increased about a fifth in the manufacturing of machinery and equipment, electrical equipment and motor vehicles.
In July 2011 compared to June, the seasonally adjusted industrial production increased 5%, in manufacturing the growth was 6%.
In July 2011 compared to July 2010, the production of electricity decreased 1% and the production of heat increased 1%.
Trends of production in branches of industry, January 2002 – July 2011 (2005 = 100)
| Economic activity | change compared to the previous month according to seasonally adjusted dataa | change compared to the corresponding month of the previous year | |
|---|---|---|---|
| according to unadjusted data | according to working-day adjusted datab | ||
| TOTAL | 4.7 | 19.8 | 22.9 |
| Energy production | -3.2 | -0.9 | -0.9 |
| Mining | -10.1 | 4.3 | 4.3 |
| Manufacturing | 5.7 | 24.1 | 27.6 |
| manufacture of computer, electronic and optical products | 26.7 | 179.4 | 187.6 |
| manufacture of wood and wood products | -0.5 | 3.9 | 6.4 |
| manufacture of food products | 1.8 | 4.6 | 6.3 |
| manufacture of fabricated metal products | 10.8 | 20.9 | 25.4 |
| manufacture of electrical equipment | 1.2 | 20.9 | 20.9 |
| manufacture of chemicals and chemical products | 2.7 | 6.2 | 9.6 |
| manufacture of motor vehicles | -0.9 | 18.9 | 21.9 |
| manufacture of machinery and equipment | -20.2 | 14.2 | 18.4 |
| manufacture of rubber and plastic products | 0.5 | -2.2 | 1.7 |
| manufacture of building materials | -0.8 | 1.1 | 3.3 |
a In case of the seasonally adjusted volume index, the impact of the differing numbers of working days in a month and seasonally recurring factors has been eliminated. It is calculated only in comparison with the previous period.
b In case of the working-day adjusted volume index, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.