Statistics: Industrial production fell 12.6 percent on year to March
The total production of industrial enterprises fell by 12.6 percent at constant prices on year to March 2023, state agency Statistics Estonia says.
Output fell in all three sectors: by 18.5 percent in electricity production, by 11.9 percent in manufacturing, and by 14.9 percent in mining, the agency says.
Helle Bunder, leading analyst at Statistics Estonia, said: "The steepest decline since the end of 2022 was recorded in the manufacture of paper and paper products where output fell by 47.5 percent in March."
In March, compared with February, the seasonally adjusted total industrial production fell by 0.9 percent; the production of manufacturing by 2.0 percent.
As for energy production, compared with March 2022, the volume of electricity production (in MWh) fell by 35.4 percent, and the production of heat by 3.7 percent.
Volume of industrial production1 statistics on year to March 2023 quick facts (Source: Statistics Estonia).
- Among the activities with larger shares, production volume grew only in the manufacture of food products (by 1.0 percent), shale oil (by 18.5 percent), and motor vehicles, trailers and semi-trailers (by 2.4 percent).
- Among the larger industries, a decline in the manufacture of wood (by 23.3 percent), electrical equipment (3.6 percent), fabricated metal products (13.9 percent) and electronic products (5.4 percent) was reported.
Sales of manufacturing production2 statistics on year to March 2023 quick facts (Source: Statistics Estonia).
- Sales of manufacturing production fell by 5.3 percent at current prices according to working-day adjusted data.
- Domestic sales fell by 12.2 percent.
- Export sales by 0.9 percent.
- 69.3 percent of the total production of manufacturing was sold on the external market.
1 Volume index of industrial production – an index that expresses the change in the volume of industrial production at constant prices compared with the base period. The producer price index is used for calculating the production values at constant prices.
2 Value index of industrial sales – an index that expresses the change in the value of sold industrial production at current prices compared with the base period.
The index of industrial production covers the economic indicators of three industrial activities: mining, energy production, and manufacturing.
Statistics Estonia conducted the above research on behalf of the Ministry of Economic Affairs and Communications.
More detailed information is here, here and here.
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Andrew Whyte
Source: Statistics Estonia