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Statistics: Estonia's industrial production continued to fall in October

Industry in Estonia (picture is illustrative).
Industry in Estonia (picture is illustrative). Source: Priit Mürk/ERR

According to data provided by Statistics Estonia, in October 2023, the total production of industrial enterprises decreased by 12.2 percent at constant prices compared to the same month in 2022. Output declined in two of the three main industrial sectors: by 14.0 percent in electricity production and 12.6 percent in manufacturing. In mining, output increased by 12.9 percent.

In October, the volume of industrial production1 fell in most manufacturing activities. Helle Bunder, leading analyst at Statistics Estonia, said that of all manufacturing activities, only two grew this October, namely the production of shale oil (22.1 percent) and repair and installation of machinery and equipment (2.5 percent). Among the larger industries, output declined in the manufacturing of wood (14.9 percent), electronic products (14.6 percent), electrical equipment (21.8 percent), fabricated metal products (15.0 percent), and food products (5.7 percent).

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

When compared to October 2022, in October 2023, the sales of manufacturing production2 decreased by 15.5 percent 'compared to at current prices according to working-day adjusted data. Domestic sales fell by 14.0 percent and export sales by 16.5 percent. 66.3 percent of the total production of manufacturing was sold to the external market.

In October 2023, the seasonally adjusted total industrial production decreased by 0.5 percent from September and the production of manufacturing was also down by 1.6 percent.

Change in volume index of industrial production. Source: Statistics Estonia

In energy production, compared with October 2022, the volume of electricity production (in megawatt-hours) decreased by 43.3 percent, whereas heat production increased by 16.7 percent.

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 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.

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Editor: Michael Cole

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