Statistics: Decline in industrial production slows in January
According to the latest data from Statistics Estonia, in January 2023, the total production of industrial enterprises decreased by 7.3 percent at constant prices compared with January 2022.
Output fell in all three industrial sectors – by 14.2 percent in electricity production, by 6.3 percent in manufacturing and by 2.9 percent in mining.
Helle Bunder, leading analyst at Statistics Estonia, said, that this January, the decline in the volume of industrial production across different forms of manufacturing activities had slowed down compared to the last few months of 2022. Bunder said, this was due both to the lower reference base for January and a fall in producer prices in some areas.
"Among the activities with larger shares, there were decreases in the manufacturing of wood (12.5 percent), electronic products (10.3 percent), and furniture (27.2 percent)." Bunder added, that there had been a slight increase in the manufacture of food products (1.0 percent), fabricated metal products (0.4 percent), and electrical equipment (0.2 percent).
According to working-day adjusted data, sales manufacturing production in January 2023 rose 4.6 percent on year. Domestic sales grew by 7.0 percent and export sales by 3.1 percent.
67.9 percent of total output from manufacturing was sold to the external market.
In January, the seasonally adjusted total for industrial production remained at the same level, while the production of manufacturing increased 2.0 percent from December.
The volume of electricity produced (in megawatt-hours) decreased by 22.2 percent on year from January 2022, while heat production also fell 8.6 percent.
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Editor: Michael Cole