Industrial production fell across most manufacturing sectors in July

Enefit280 plant under construction in Auvere.
Enefit280 plant under construction in Auvere. Source: Rene Kundla/ERR

The total production of industrial enterprises fell by 9.5 percent at constant prices on year to July 2023, state agency Statistics Estonia says.

Output declined in all three main sectors during that time: By 33.6 percent in electricity production, by 20.7 percent in mining and by 7.0 percent in manufacturing.

Helle Bunder, lead analyst at Statistics Estonia, said: "Among the activities with larger shares, there was a rise only in the production of shale oil (21.2 percent) and in repair and installation of machinery and equipment (48.5 percent)."

Among the larger industries, output decreased in the manufacture of wooden items (12.5 percent), fabricated metal products (3.9 percent), electronic products (7.0 percent), and food products (8.4 percent).

Volume Index Trend. Source: Statistics Estonia

Bunder added that, in July, the volume of industrial production1 fell in nearly all of the manufacturing activities.

The sales of manufacturing production2 fell by 7.7 percent at current prices according to working-day adjusted data, on year to July 2023.

Domestic sales fell by 6.7 percent and export sales by 8.3 percent, over the same time-frame.

A total of 65.2 percent of the total production of manufacturing was sold to the external market.

Between June and July 2023, seasonally adjusted total industrial production fell by 3.7 percent, while the production of manufacturing remained almost constant, rising by just 0.1 percent.

As for energy production, the volume of electricity production (in MWh) fell by 48.9 percent; the production of heat (referring to district heating) by 4.4 percent, on year to July.

Change in volume index of production. Source: Statistics Estonia

Industry is the largest sector of the economy and an important driver of economic growth, Statistics Estonia says. The index of industrial production covers the economic indicators of three industrial activities: Mining, energy production, and manufacturing.

Statistics Estonia compiled the above data on behalf of the Ministry of Economic Affairs and Communications.

More detailed information is here, here and here.

1 Volume index of industrial production – an index which 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 which expresses the change in the value of sold industrial production at current prices compared with the base period.


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Editor: Andrew Whyte

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