Industrial production continues on downward trend

In August 2024, the total production of industrial enterprises decreased by 6 percent at constant prices compared with August 2023, data from Statistics Estonia show.
Among the three industrial sectors, output increased by 1.9 percent in mining but decreased by 5.6 percent in electricity production and by 6.4 percent in manufacturing.
Helle Bunder, leading analyst at Statistics Estonia, pointed out that, as in the first half of the year, when the volume of manufacturing declined by 6 percent, the fall continued at the same rate in August.
"Also, as in the previous months, the volume of industrial production was down in two thirds of the manufacturing activities," Bunder added.
Looking at the larger industries, output decreased in the manufacture of wood (14.4 percent), electrical equipment (4.7 percent), and building materials (8 percent). The manufacture of food products and fabricated metal products remained nearly unchanged, with production falling by just 0.2 percent and rising by 0.7 percent, respectively. However, among the activities with larger shares, output grew in the manufacture of computers and electronic products (2.5 percent), rubber and plastic products (6 percent), and chemical products (2.4 percent).
67 percent of the total production of manufacturing was sold to the external market in 2024.
Compared with August 2023, the sales of manufacturing production decreased by 4.9 percent at current prices according to working-day adjusted data. Domestic sales fell by 13.4 percent, while export sales grew by 0.5 percent.
In August compared with July, the seasonally adjusted total industrial production grew by 1.8 percent and the production of manufacturing by 2.8 percent.
In energy production, the volume of electricity production (in megawatt-hours) increased by 10.3 percent and the production of heat by 3.2 percent in August.
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Editor: Helen Wright