In January, the decline in industrial production slowed down

Posted on 10. March 2023 8:00

According to Statistics Estonia, in January 2023, the total production of industrial enterprises decreased by 7.3% at constant prices compared with January 2022. Output fell in all three sectors – by 14.2% in electricity production, by 6.3% in manufacturing and by 2.9% in mining.

Helle Bunder, leading analyst at Statistics Estonia, said that, in January, the decline in the volume of industrial production1 across manufacturing activities was slower than in the last months of the previous year, due to the lower reference base for January as well as a fall in producer prices in some economic activities. “Among the activities with larger shares, there was a decrease in the manufacture of wood (12.5%), electronic products (10.3%), and furniture (27.2%). A slight increase was registered in the output of the following larger industries: manufacture of food products (1.0%), manufacture of fabricated metal products (0.4%), and manufacture of electrical equipment (0.2%),” noted Bunder.

The volume index and trend of production in manufacturing, January 2013 – January 2023 (2015 = 100)

In January 2023, compared with January 2022, the sales of manufacturing production2 increased by 4.6% at current prices according to working-day adjusted data. Domestic sales grew by 7.0% and export sales by 3.1%.

67.9% of the total production of manufacturing was sold to the external market.

In January, compared with December, the seasonally adjusted total industrial production remained at the same level, while the production of manufacturing increased by 2.0%.

In energy production, compared with January 2022, the volume of electricity production (in megawatt-hours) decreased by 22.2% and the production of heat by 8.6%.

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:

Hanna-Liisa Ruul
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9264

press [at] ()

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