Helle Bunder, leading analyst at Statistics Estonia, said that the volume of industrial production1 in March declined in more than two thirds of Estonia's manufacturing activities.

"Looking at the more significant industries, output in March decreased in the manufacture of wood (12.6 percent), fabricated metal products (7.3 percent), electrical equipment (20.6 percent), and computers and electronic products (7.7 percent). Among the larger industries, output grew in the manufacture of food products (4.3 percent), shale oil (10.3 percent), and building materials (5.4 percent)," said Bunder.

This March, 68.6 percent of the total production of manufacturing was sold to the external market.

Compared to the figures from March 2023, the sales of manufacturing production2 for the same month this year decreased by 6.8 percent according to working-day adjusted data. Domestic sales fell by 7.9 percent and export sales by 6.1 percent.

From February to March 2024, the seasonally adjusted total industrial production grew by 1.2 percent and the production of manufacturing by 0.8 percent.

For energy production, the volume of electricity production (in megawatt-hours) decreased by 10.1 percent, while the production of heat increased by 1.3 percent in March.

More information is available here, here and here.

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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