In March, the decline in industrial production accelerated
According to Statistics Estonia, in March 2023, the total production of industrial enterprises decreased by 12.6% at constant prices compared with the corresponding month of 2022. Output fell in all three sectors: by 18.5% in electricity production, by 11.9% in manufacturing, and by 14.9% in mining.
In March, the volume of industrial production1 fell in almost all manufacturing activities. Helle Bunder, leading analyst at Statistics Estonia, said that, among the activities with larger shares, production volume grew only in the manufacture of food products (1.0%), shale oil (18.5%), and motor vehicles, trailers and semi-trailers (2.4%). Among the larger industries, there was a decline in the manufacture of wood (23.3%), electrical equipment (3.6%), fabricated metal products (13.9%) and electronic products (5.4%). “The steepest decline since the end of 2022 was recorded in the manufacture of paper and paper products where output fell by 47.5% in March,” noted Bunder.
In March 2023, compared with March 2022, the sales of manufacturing production2 decreased by 5.3% at current prices according to working-day adjusted data. Domestic sales fell by 12.2% and export sales by 0.9%.
69.3% of the total production of manufacturing was sold to the external market.
In March, compared with February, the seasonally adjusted total industrial production fell by 0.9% and the production of manufacturing by 2.0%.
In energy production, compared with March 2022, the volume of electricity production (in megawatt-hours) decreased by 35.4% and the production of heat by 3.7%.
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.
2Value 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