Estonia’s industrial production volumes up 16% on year in May 2021

 Estonia’s industrial production volumes up 16% on year in May 2021
Industrial production volumes increased by 15.9% in May 2021, y/y.
By bne IntelliNews July 8, 2021

Industrial production volumes increased by 15.9% in May 2021, y/y.

Production increased by 7% in energy and 18% in manufacturing, but decreased by 13% in mining.

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," Bunder said.

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%, 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%, y/y.

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.

Data

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