Industrial production fell in almost all manufacturing activities in July
According to Statistics Estonia, in July 2023, the total production of industrial enterprises decreased by 9.5% at constant prices compared with the year before. Output declined in all three main sectors: by 33.6% in electricity production, by 7.0% manufacturing, and by 20.7% mining.
Helle Bunder, leading analyst at Statistics Estonia, said that, in July, the volume of industrial production1 fell in nearly all of the manufacturing activities. “Among the activities with larger shares, there was a rise only in the production of shale oil (21.2%) and in repair and installation of machinery and equipment (48.5%),” explained Bunder. Among the larger industries, output decreased in the manufacture of wood (12.5%), fabricated metal products (3.9%), electronic products (7.0%), and food products (8.4%).
Compared with July 2022, the sales of manufacturing production2 decreased by 7.7% at current prices according to working-day adjusted data. Domestic sales fell by 6.7% and export sales by 8.3%.
65.2% of the total production of manufacturing was sold to the external market.
In July compared with June, the seasonally adjusted total industrial production decreased by 3.7%, while the production of manufacturing remained almost unchanged, rising by just 0.1%.
In energy production, compared with July 2022, the volume of electricity production (in megawatt-hours) decreased by 48.9% and the production of heat by 4.4%.
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.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Tel +372 625 9181
press [at] stat.ee