The total production of industrial enterprises rose by 11% YoY in June, Statistics Estonia reported, the third month in a row to see a year-on-year increase.
Production increased in all three major industrial sectors during that time: in mining (by 19%), in energy (by 14%) and in manufacturing (by 10%).
Helle Bunder, one of the agency’s analysts, said of the results that: “In June, in the mining sector, there was a considerable increase in both peat production and stone quarrying. Manufacturing production also continued its growth – it was up by 10% in June. Unlike in the two previous months, the reference base of 2020 was no longer as low. As of June last year, the emergency situation declared due to the coronavirus pandemic had ended and the industrial sectors had been gradually recovering”.
Production increased in most manufacturing activities, and of the more significant sectors, it grew in: manufacture of wood (+14.8%), fabricated metal products (+13.4%), rubber and plastic products (+38.7%), electrical equipment (+21.4%), food products (+2.1%) and building materials (+27.1%).
The production of electronic products fell over the same period, partly due to its high reference base – June 2020 was the month with the highest level of production for this activity, in the first half of last year, Statistics Estonia said.
Between May and June this year, seasonally adjusted total industrial production increased by 3%, while manufacturing production rose by 1%, Statistics Estonia reported.
Meanwhile in energy production, the volume of electricity production (in MWh) rose by 30% YoY, while in heat production, the rise was a tenth of that at 3%.
Of total production of manufacturing, 67% 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 16%, and sales to the domestic market by 17%, compared with June 2020.
Industry is the largest sector of the economy and an important driver of economic growth, Statistics Estonia says. (ERR/Business World Magazine)