In January, industrial output fell by 1.0%

Text Mark Taylor

The Producer Price Index, which expresses changes in the prices of industrial goods manufactured in Estonia, decreased by 1.0 per cent in January compared with December 2022. However, it increased by 12.7 per cent compared to January 2022.

“Compared with January 2022, the index was primarily influenced by rising prices in the manufacture of food products, wood products, and building materials. Price decreases in electricity production and the manufacture of fuel oils had an opposite effect on the index. The overall price increase in manufacturing was 13.5 per cent. In the manufacture of food products, prices rose by 22.2 per cent,” said Eveli Šokman, a leading analyst at Statistics Estonia.

Compared with December, the Producer Price Index was most affected by a decrease in the price of electricity production, as well as price increases in the manufacture of electrical equipment and food products.

The Export Price Index fell by 1.1 per cent in January compared with December. The biggest price decreases occurred in electricity production, mining and quarrying, and the manufacture of paper products. The largest price increases were recorded in the manufacture of textiles, wearing apparel, leather products and footwear. Compared with January 2022, the Export Price Index rose by 14.9 per cent.

The Import Price Index also fell in January compared with December, down by 1.9 per cent. The biggest price decreases were registered in electricity production, mining and quarrying, and the manufacture of wood products. Prices rose the most for agricultural products, beverages, and tobacco products. Compared with January 2022, the Import Price Index went up by 11.2 per cent.

To learn more about this and similar topics
Estonia 2023 Export Price Index Exports Import Price Index Imports Manufacturing Producer Price Index Statistics Estonia