Growth of industrial production came to a halt in June
According to Statistics Estonia, in June, the total production of industrial enterprises increased by 0.4% at constant prices compared with June 2021. Output increased in two of the three sectors – by 18.4 in electricity production and by 28.9% in mining –, but fell by 2.5 in manufacturing.
Helle Bunder, analyst at Statistics Estonia, said that, in June, production volumes decreased in half of the manufacturing activities and the volumes of several larger activities have fallen. “Manufacturing output last declined at the start of the coronavirus pandemic in 2020,” said Bunder. Output decreased in the manufacture of fabricated metal products (7.6%), building materials (5.5%), food products (1.7%), and wood (8.1%). Among the activities with the largest shares, there was an increase in production in the manufacture of electronic products (6.2%) and shale oil (15.9%).
68.5% of the total production of manufacturing was sold to the external market. The share of export sales was the highest in the manufacture of computers and electronic products. According to unadjusted data, the export sales of manufacturing production increased by 25.4% and domestic sales by 19.5% at current prices compared with June 2021.
In June compared with May, the seasonally adjusted total industrial production decreased by 1.6% and the production of manufacturing by 3.8%.
In energy production, compared with June 2021, the volume of electricity production (in megawatt-hours) increased by 36.7%, while the production of heat decreased by 4.5%.
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.
More detailed data have been published in the statistical database.
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Helen Maria Raadik
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