Industrial production continued to fall in October

News
Posted on 1. December 2022 8:00

According to Statistics Estonia, in October, the total production of industrial enterprises decreased by 5.8% at constant prices compared with October 2021. Output fell in all three sectors – by 4.4% in electricity production, by 6.1% in manufacturing, and by 0.4% in mining.

“In October, the volume of industrial production1 declined in almost all manufacturing activities, but compared with September, the fall was not as deep in the more important economic activities,” said Helle Bunder, analyst at Statistics Estonia. Among the activities with larger shares, there was an increase in output only in the electronics industry (11.5%), while production volumes in the manufacture of chemical products remained at exactly the same level. Among the larger industries, production volumes fell in the manufacture of wood (15.4%), small declines were also recorded in the manufacture of fabricated metal products (1.3%), electrical equipment (0.5%), and food products (0.8%).

In October 2022, compared with the same month last year, the sales of manufacturing production2 increased by 12.1% at constant prices according to working-day adjusted data. Export sales rose by 14.5% and domestic sales by 8.5%.

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

67.8% of the total production of manufacturing was sold to the external market.

In October compared with September, the seasonally adjusted total industrial production fell by 0.9%, while the production of manufacturing remained almost unchanged, with an increase by 0.3%.

In energy production, compared with October 2021, the volume of electricity production (in megawatt-hours) increased by 2.9%, while the production of heat decreased by 11.0%.

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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