The industrial production increased in May

According to Statistics Estonia, in May 2014, the production of industrial enterprises rose 2% compared to May of the previous year. The production increased in manufacturing, mining and energy.

Since January manufacturing has shown a stable 1‒6% growth in production compared to the same month of the previous year. In May, the increase in manufacturing was 2% compared to May of the previous year. Production exceeded the volume of May 2013 in half of the branches of industry. The growth in production was most influenced by an increase in the manufacture of food, wood products and refined petroleum products. The volume of production fell in the manufacture of electronic and metal products and electrical equipment.

In May, 69% of the whole production of manufacturing was sold on the external market. Compared to May 2013, export sales of manufacturing production fell 8% and domestic sales increased 1% according to unadjusted data. The decrease in exports was mainly caused by the manufacture of electronic products where sales fell one fourth compared to May of the previous year – this had a substantial impact on the total export sales of industrial enterprises.

In May 2014, compared to April, the seasonally adjusted total industrial production increased 1%, while the production in manufacturing remained at the same level as in April.

Compared to May 2013, the production of electricity decreased 5% and the production of heat increased 12%.

The volume index and trend of production in manufacturing, January 2005 – May 2014
(2010 = 100)

Diagram: The volume index and trend of production in manufacturing

 

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