Statistics: February industrial production down 5.7 percent on year
This February, the total production of industrial enterprises in Estonia decreased by 5.7 percent on year at constant prices, with production increasing by 19.3 percent in mining and 2.6 percent in electricity production but falling by 7 percent in manufacturing, Statistics Estonia said Monday.
Helle Bunder, leading analyst at Statistics Estonia, said that the volume of industrial production1 in February rose in slightly more than a third of manufacturing activities, according to a press release.
"Among the activities with larger shares, output grew in the manufacture of chemical products (2.9 percent), fabricated metal products (0.9 percent), rubber and plastic products (0.8 percent) and in repair and installation of machinery and equipment (26.8 percent)," Bunder noted.
The manufacture of building materials remained more or less unchanged on year, seeing a decrease of just 0.5 percent. A slight, 1 percent decline was also recorded in the manufacture of food products.
Among larger manufacturing activities, output in February decreased in the manufacture of wood (16.9 percent), electrical equipment (5.6 percent) and computers and electronic products (10.4 percent).
This February, 66.1 percent of the total production of manufacturing in Estonia was sold to the external market.
According to working-day adjusted data, compared with February 2023, the sales of manufacturing production2 decreased by 9.2 percent at current prices, with domestic sales down 10.6 percent and export sales 8.4 percent on year.
Compared with January, meanwhile, seasonally adjusted total industrial production grew by 1 percent and manufacturing production by 2.1 percent.
In energy production, the volume of electricity production as measured in megawatt-hours (MWh) decreased by 8.6 percent, while the production of heat increased by 9.1 percent in February.
1 The volume index of industrial production is an index expressing the change in the volume of industrial production at constant prices compared with the base period. The producer price index (PPI) is used to calculate production values at constant prices.
2 The value index of industrial sales is 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: Aili Vahtla
