Exports power production rebound

  • 2010-08-04
  • From wire reports

TALLINN - In June 2010, the production at Estonia’s industrial companies grew 21 percent compared to June of the previous year, show data at Statistics Estonia, reports news agency LETA. The two percent growth reported in January 2010 was followed by a rapid increase - in March enterprises reported growth of 11 percent, and in April and May production was 18 percent higher than in the corresponding months of 2009.

In June, export sales of the manufacturing output increased by 42 percent. Demand on the domestic market was still insufficient and domestic sales fell six percent compared to June of the previous year. In June, two thirds of the entire production was sold on foreign markets.

In June, production exceeded the previous year’s level in most branches of industry.
Growth in manufacturing was most influenced by the sectors with the biggest shares - manufacturing of electronic products, where production increased by more than one and a half times, and manufacturing of wood products, where growth was 26 percent.

With respect to the smaller manufacturing sectors, production increased considerably in the manufacturing of motor vehicles, metals and pharmaceuticals, mainly due to the increase in exports.
The rapid growth in production was partly influenced by the low reference base in 2009; this effect will last until the end of 2010. The production of food, beverages, leather, metal products and other transport equipment, and the production in the repair and installation of machinery and equipment, decreased.

In June 2010, compared to May, the seasonally adjusted industrial production increased three percent; manufacturing grew two percent.

Compared to June 2009, June of this year registered an increase of production of electricity by 31 percent and the production of heat up by seven percent. The increase in energy production was mainly caused by a growing demand for energy due to more active manufacturing as well as by the growth in the export of electricity.