Statistics: Industrial production down 15.1 percent on year to April 2023

Industry (Photo is illustrative).
Industry (Photo is illustrative). Source: ERR

According to data provided by Statistics Estonia, industrial output fell 15.1 percent at constant prices on year to April 2023.

Industrial output fell in all three sectors: 22.0 percent in electricity production, 14.7 percent in manufacturing, and 9.1 percent in mining.

Helle Bunder, leading analyst at Statistics Estonia, said that in April, the volume of industrial production (1) fell in almost all manufacturing activities.

"Of the activities with larger (market) shares, the only ones to record growth in production were shale oil (2.4 percent) and motor vehicles, trailers and semi-trailers (12.8 percent)," Bunder said.

Among Estonia's larger industries, as in the previous month, the manufacturing of wood decreased the most (24.0 percent), while output also declined in the manufacture of electrical equipment (6.8 percent) and fabricated metal products (9.0 percent). There were also smaller falls in the manufacturing of electronic products (2.3 percent) and food products (1.4 percent).

Volume index and trend of production in manufacturing. Source: Statistics Estonia

According to working-day adjusted data, in April 2023 the sales of manufacturing production (2) decreased by 11.9 percent at current prices in comparison to April 2022. Domestic sales fell by 14.1 percent while export sales were down 10.5 percent on year to April 2023.

66.8 percent of Estonia's total production of manufacturing was sold on the external market.

From March to April 2023, the seasonally adjusted total level of industrial production fell by 1.4 percent, while manufacturing production was down by 1.5 percent.

As regards energy production, the volume of electricity production (in megawatt-hours) decreased by 27.4 percent, while heat production fell by 18.1 percent, when compared to the figures from April 2022.

Change in volume of industrial production. Source: Statistics Estonia

(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 can be found herehere and here.


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Editor: Michael Cole

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