Analytics, Estonia, EU – Baltic States, Good for Business, Industry, Markets and Companies

In the course of 2014, manufacturing production showed a moderate growth compared to the same month of the previous year. Both export sales and the sales on the domestic market increased.  

In 2014, production exceeded the volume of the previous year in two-thirds of the branches of industry. The growth in the production of manufacturing was positively influenced by the three branches holding bigger shares – the manufacture of electronic products grew 7%, the manufacture of wood 8% and the manufacture of food products 4%. Production increased also in the manufacture of metal products, electrical equipment, motor vehicles, refined petroleum products and machinery and equipment. Production fell in the manufacture of chemical products, furniture and building materials.

In 2014, production grew mainly due to an increase in exports. 70% of the whole production of manufacturing was sold on the external market. Export sales as well as sales on the domestic market grew about 2% compared to 2013.

In December 2014, industrial production increased 8% compared to December 2013; the production of manufacturing rose 7%. In December compared to December 2013, the production of electricity increased by 23% and the production of heat by 13%.

In December 2014 compared to November, the seasonally adjusted industrial production as well as the production of manufacturing fell 1%.

Change in volume index of industrial production, 2014 and December 2014 (percentages)

^b 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.

^c 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.