Estonia's industrial production down 5% on year in June

Shipping containers in Muuga Harbour. (Postimees/Scanpix)
8/1/2016 1:12 PM
Source: BNS
Category: Business

Production by Estonian industrial enterprises decreased 5 percent year-on-year in June, with declines registered in mining and manufacturing and an increase registered in energy output.

According to Statistics Estonia, the approximately 60 percent drop in mining production was caused by low demand resulting from the low price of oil and oil shale products leading to a decline in oil shale mining.

Manufacturing production fell 1 percent compared to June 2015. The drop was mostly due to a decrease in the manufactue of electronic, wood and food products. Production did not achieve the previous year's volumes in more than half of the industry's various branches.

Among the branches of industry holding larger shares, production also fell in the manufacture of metal products as well as machinery and equipment. Production rose, however, in the manufacture of electrical equipment, textiles and furniture.

In June, 70 percent of the total manufacturing output was sold on the external market. According to unadjusted data, domestic sales of manufacturing production rose 3 percent and export sales remained on the same level as in June 2015.

Month on month, the seasonally-adjusted total industrial production fell 3 percent, while production in manufacturing decreased 1 percent.

Compared to June 2015, the production of electricity increased 23 percent, whereas heat production fell 11 percent.

Editor: Aili Sarapik

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