Statistics: August industrial production up 0.8 percent on year
This August, the total production of industrial enterprises increased 0.8 percent on year at constant prices, with output up 10.2 percent in electricity production and as much as 121.4 percent in mining, but falling 3.7 percent in manufacturing, Statistics Estonia reported Monday.
Helle Bunder, analyst at Statistics Estonia, said that manufacturing showed some signs of recovery in August following the summer vacation month of July.
"In the mining industry, record growth was recorded in peat production thanks to favorable weather conditions," Bunder highlighted.
The volume of industrial production decreased across half of manufacturing activities. Among those with larger shares, output fell in the manufacture of wood (down 9.5 percent), fabricated metal products (down 11 percent) as well as building materials (down 12 percent).
Output increased, meanwhile, in the manufacture of electronic products (up 9 percent), shale oil (up 20.3 percent), and machinery and equipment not elsewhere classified (up 19.2 percent). The manufacture of food products remained nearly unchanged (up by 0.4 percent).
Compared with the same month last year, manufacturing production sales in August grew 14.2 percent at current prices and according to working day adjusted data.
Export sales increased 14.3 percent, including 20.5 percent in the euro area and 6.4 percent outside of it, while domestic sales were up 14.1 percent. 66.2 percent of total manufacturing production was sold to the external market.
Compared with July, seasonally adjusted total industrial production in August increased 5 percent, while manufacturing production increased 4.6 percent.
In energy production, compared with August 2021, the volume of electricity production in megawatt-hours increased 28.6 percent, while the production of heat decreased 11.3 percent.
Statistics Estonia provides the "Production indices" statistical activity for the Ministry of Economic Affairs and Communications. The index of industrial production covers the economic indicators of three industrial activities: mining, energy production and manufacturing.
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Editor: Aili Vahtla