Industrial production continued to fall in June
According to Statistics Estonia, in June 2023, the total production of industrial enterprises decreased by 12.6% at constant prices compared with a year earlier. Output declined in two of the three main sectors: by 29.2% in electricity production and by 12.4% in manufacturing. In mining, output increased by 1.6%.
Helle Bunder, leading analyst at Statistics Estonia, said that, in June, the volume of industrial production1 fell in most of the manufacturing activities. “Among the activities with larger shares, there was a rise only in the production of shale oil (30.2%) and the manufacture of motor vehicles, trailers and semi-trailers (3.0%), as in the previous month,” Bunder added. The manufacture of electronic products declined slightly (0.6%). Among the larger industries, output decreased the most in the manufacture of wood (27.7%), as well as in the manufacture of electrical equipment (11.1%), fabricated metal products (9.6%), and food products (3.3%).
Compared with June 2022, the sales of manufacturing production2 decreased by 16.5% at current prices according to working-day adjusted data. Domestic sales fell by 17.2% and export sales by 16.0%.
68.1% of the total production of manufacturing was sold to the external market.
In June compared with May, the seasonally adjusted total industrial production fell by 1.7% and the production of manufacturing by 2.1%.
In energy production, compared with June 2022, the volume of electricity production (in megawatt-hours) decreased by 36.1% and the production of heat by 17.1%.
1 Volume 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:
Kai Kaljumäe
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9184
press [at] stat.ee (press[at]stat[dot]ee)