The production of manufacturing increased in February

According to Statistics Estonia, in February 2016, the production of industrial enterprises decreased 2% compared to February of the previous year. Production decreased in electricity and mining, while the production of manufacturing increased.

In February, manufacturing production increased 1% compared to February of the previous year. The growth in production was mostly caused by an increase in the manufacture of wood products, electrical equipment and furniture. The production growth was broad-based – production surpassed the volume of the previous year in three-fourths of the branches of industry. Among the branches of industry holding larger shares, production continued to fall in the manufacture of electronic, metal and food products.

71% of the whole production of manufacturing was sold on the external market in February. Compared to February 2015, the export sales of manufacturing production rose 2% and domestic sales 4% according to unadjusted data.

In February 2016 compared to January, the seasonally adjusted total industrial production remained on the level of the previous month; production in manufacturing rose by 5%.

Compared to February 2015, the production of electricity decreased by 20% and the production of heat increased by 2%. The decline in electricity generation was caused by the partial replacement of own production with cheaper imports.Diagram: Volume index of production in manufacturing and its trend

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The producer price index of industrial output increased in January

According to Statistics Estonia, in January 2016, the producer price index of industrial output changed by 2.0% compared to December 2015 and by -0.1% compared to January 2015.

In January, compared to the previous month, the producer price index was more than average influenced by an increase in prices in electricity, gas, steam and air conditioning supply, and in the manufacture of electronic equipment and fuel oils but also by a decrease in prices in the repair and installation of machinery and equipment.

Compared to January 2015, the producer price index was more than average influenced by a decrease in prices in the manufacture of food products, wood and wood products and chemicals and chemical products but also by an increase in prices in the manufacture of electronic equipment, in electricity, gas, steam and air conditioning supply, mining and quarrying.

Change in producer price index of industrial output by economic activity, January 2016
Economic activity according to EMTAK 2008 January 2016 – December 2015, % January 2016 – January 2015, %
TOTAL 2.0 -0.1
Manufacturing 0.6 -0.9
Mining and quarrying -1.1 5.3
Electricity, gas, steam and air conditioning supply 20.6 4.7
Water supply; sewerage, waste management and remediation activities 3.4 3.4

In January 2016, the export price index changed by 0.7% compared to December 2015 and by 1.6% compared to January 2015.

In January, compared to the previous month, the prices of electricity, wood products and electronic equipment increased more than average, while the prices of oil products, leather and textile products decreased more than average.

In January 2016, the import price index changed by –1.4% compared to December 2015 and by 2.7% compared to January 2015.

In January, compared to the previous month, the prices of oil products, leather and chemical products decreased more than average, while the prices of electricity and paper and paper products increased more than average.

Source: Statistics Estonia

In 2015, industrial production decreased

According to the preliminary data of Statistics Estonia, in 2015, the production of industrial enterprises fell 2% compared to the previous year. Production decreased in energy and mining as well as in manufacturing.

While at the beginning of 2015 manufacturing production grew compared to the same month of the previous year, then in the second half year the growth turned into decline. In 2015, production in manufacturing fell 1% compared to 2014. More than half of the branches of industry did not surpass the volume of the previous year. The growth in the production of manufacturing was negatively influenced by the branches holding bigger shares: the manufacture of electronic products decreased 4%, the manufacture of chemical products 12% and the manufacture of building materials 5%. Although in many of the branches of industry that hold larger shares (the manufacture of wood products, metal products, electrical equipment, furniture and motor vehicles) production rose, it did not compensate for the fall in other, smaller branches.

In 2015, both exports and domestic sales of manufacturing production decreased. 70% of the whole production of manufacturing was sold on the external market. Export sales as well as sales on the domestic market fell about 2% compared to 2014.

In December 2015, the working-day adjusted industrial production decreased 9% compared to December 2014; the production of manufacturing fell 7%. In December 2015 compared to December 2014, the production of electricity decreased by 23% and the production of heat by 16%.

In December 2015 compared to November, the seasonally adjusted industrial production decreased 3%; the production of manufacturing fell 2%.Diagram: Volume index of production in manufacturing in the European Union countries

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The volume of industrial production decreased

According to Statistics Estonia, in November 2015, the production of industrial enterprises decreased 6% compared to November of the previous year. Production decreased in manufacturing, energy and mining.

While in the beginning of 2015, manufacturing production grew compared to the same month of the previous year, in the second half-year, the growth turned into decline. In September, production fell 4%, in October it fell 1%, and in November 5% compared to the corresponding month of the previous year. In November, the decline in production volume was caused primarily by a decrease in the manufacture of electronic products, where the 28% decrease was caused by the high reference base of November 2014. In November, more than half of the branches of industry did not surpass the volume of the previous year. Among the branches of industry that hold larger shares, production fell also in the manufacture of food and metal products and electrical equipment. Production rose continually in the manufacture of wood products and furniture.

70% of the whole production of manufacturing was sold on the external market in November. Compared to November 2014, the export sales of manufacturing production decreased 7% and domestic sales decreased 5%, according to unadjusted data.

In November 2015 compared to October 2015, the seasonally adjusted total industrial production fell by 3%, the volume of manufacturing production decreased 2% compared to the previous month.

Compared to November 2014, the production of electricity decreased by 18% and the production of heat by 15%.

Diagram: Volume index of production in manufacturing and its trend

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Production volumes decreased in October

According to Statistics Estonia, in October 2015, the production of industrial enterprises decreased 2% compared to October of the previous year. Production decreased in manufacturing, energy and mining.

While in the beginning of 2015, manufacturing production grew compared to the same month of the previous year, in the second half-year, the growth turned into decline. In August, production fell 2%, in September it fell 4%, and in October 0.2% compared to the corresponding month of the previous year. In October, the decline in production volume was caused primarily by a decrease in the manufacture of electronic and metal products, chemicals, and building materials. The 25% decrease in the manufacture of electronic products was caused by the high reference base of October 2014. In October, more than half of the branches of industry did not surpass the volume of the previous year. Although in some of the branches of industry that hold larger shares (the manufacture of wood products, electrical equipment, furniture and motor vehicles) production rose, it did not compensate for the fall in other branches.

69% of the whole production of manufacturing was sold on the external market in October. Compared to October 2014, the export sales of manufacturing production decreased 8% and domestic sales decreased 6%, according to unadjusted data.

In October 2015 compared to September 2015, the seasonally adjusted total industrial production rose by 1%, the volume of manufacturing production increased 4% compared to the previous month.

Compared to October 2014, the production of electricity decreased by 21% and the production of heat by 4%.

Diagram: Volume index of production in manufacturing and its trend

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The volume of industrial production decreased

According to Statistics Estonia, in September 2015, the production of industrial enterprises decreased 4% compared to September of the previous year. Production decreased in manufacturing, energy and mining.

While in the beginning of 2015, manufacturing production grew compared to the same month of the previous year, in the second half-year, the growth turned into decline. In both July and August, production fell 2% and in September 4% compared to the corresponding month of the previous year. In September, the decline in production volume was caused primarily by a decrease in the manufacture of electronic products, chemicals, and machinery and equipment. The 7% decrease in the manufacture of electronic products was caused by the high reference base of September 2014. In September, more than half of the branches of industry did not surpass the volume of the previous year. Although in some of the branches of industry that hold larger shares (the manufacture of wood and metal products, and electrical equipment) production rose, it did not compensate for the fall in other branches.

70% of the whole production of manufacturing was sold on the external market in September. Compared to September 2014, the export sales of manufacturing production decreased 10% and domestic sales decreased 3%, according to unadjusted data.

In September 2015 compared to August 2015, the seasonally adjusted total industrial production as well as the volume of manufacturing production fell by 1% compared to the previous month.

Compared to September 2014, the production of electricity decreased by 9% and the production of heat increased by 2%.

Diagram: Volume index and trend of production in manufacturing

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The producer price index decreased in September

According to Statistics Estonia, in September 2015, the producer price index of industrial output changed by -0.2% compared to August 2015 and by -2.8% compared to September 2014.

In September, compared to the previous month, the producer price index was more than average influenced by a decrease in prices in electricity, gas, steam and air conditioning supply, in the manufacture of chemicals and chemical products and in the manufacture of wood, but also by an increase in prices in the manufacture of electronic products and beverages.

Compared to September 2014, the producer price index was more than average influenced by a decrease in prices in electricity, gas, steam and air conditioning supply and in the manufacture of fuel oils, food products and electronic products, but also by an increase in prices in mining and quarrying.

Read more from Statistics Estonia

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