Analytics, Estonia, Good for Business, Industry, Markets and Companies

The moderate growth reported at the beginning of 2010 was followed by a rapid increase in spring; in summer enterprises gave over 20% more production than in the corresponding months of 2009. During the last three months the production increased more than 30% compared to the corresponding month of the previous year.

In November 2010, the production of manufacturing increased 36% compared to November of the previous year. Export sales of the manufacturing production grew significantly (62%). More than two thirds of the whole production of manufacturing was sold on the external market. The demand on the domestic market was continually lower – the domestic sales increased 22% compared to November of the previous year.

In November 2010, the production exceeded the volume of the previous year in most branches of industry. The growth in the production of manufacturing was most influenced by the branches holding bigger shares – manufacturing of electronic products where the production increased by more than three times, and manufacturing of wood and metal products where the production grew 23% and 16%, respectively. With respect to the branches of manufacturing holding smaller shares, the production increased considerably in the manufacturing of motor vehicles, machinery and equipment mainly due to the increase in exports. The rapid growth in production was partly also influenced by the low reference base in 2009; this effect will last until the end of 2010. Regardless of the rapid increase, the summed up eleven months’ industrial production just reached the level of 2005.

The volume index and trend of production in manufacturing, January 2000 – November 2010 (2005 = 100)

In November 2010 compared to October, the seasonally adjusted industrial production rose 1%; the production of manufacturing grew 2%.

In November 2010 compared to November 2009, the production of electricity increased 79% and the production of heat 5%. The increase in energy production was mainly caused by a growing demand for energy induced by more active manufacturing as well as by the growth in the exports of electricity.

Change in volume index of industrial production, November 2010 (percentages)

^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.