The decline in industrial production deepened in November

News
Posted on 5. January 2023 8:00

According to Statistics Estonia, in November 2022, the total production of industrial enterprises decreased by 12.2% at constant prices compared with November 2021. Output fell in all three sectors – by 3.6% in electricity production, by 13.1% in manufacturing and by 11.1% in mining.

Helle Bunder, leading analyst at Statistics Estonia, said that, in November, there was a widespread decline in the volume of industrial production1 across manufacturing activities. “Among the activities with larger shares, the biggest decrease (22.4%) occurred in the manufacture of wood, which contributes a fifth of total manufacturing production,” noted Bunder. Among the larger industries, there was a more modest decline in the manufacture of food products (3.5%), fabricated metal products (4.5%), and electronic equipment (4.6%). A growth in production volume was recorded only in a few minor activities, such as the manufacture of wearing apparel (17.5%).

The volume index and trend of production in manufacturing, January 2012 – November 2022 (2015 = 100)

In November 2022, compared with November 2021, the sales of manufacturing production2 increased by 1.5% at current prices according to working-day adjusted data. Domestic sales grew by 4.0%. Export sales remained at the same level.

66.9% of the total production of manufacturing was sold to the external market.

In November 2022 compared with October, the seasonally adjusted total industrial production fell by 3.8%, and the production of manufacturing decreased by 5.1%.

In energy production, compared with November 2021, the volume of electricity production (in megawatt-hours) decreased by 1.1% and the production of heat by 5.7%.

Change in volume index of industrial production compared to corresponding month of previous year (adjusted with the number of working days)

1Volume 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.

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

Statistics Estonia performs the statistical activity “Production indices” for the Ministry of Economic Affairs and Communications with the aim to determine the economic situation in Estonia.

Information about various industrial activities can be found on the business dashboards.

See also the dedicated section on industry.

More detailed data have been published in the statistical database.

 

For further information:

Helen Maria Raadik
Media Relations Manager

Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee

 

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