In August, the volume of industrial production decreased
According to Statistics Estonia, in August 2015, the production of industrial enterprises decreased 3% compared to August of the previous year. Production decreased in manufacturing and energy production but increased in mining.
While in the beginning of 2015, manufacturing production grew compared to the same month of the previous year, in the second half-year, the growth turned into decline. In both July and August, production fell 2% compared to the corresponding month of the previous year. In August, the decline in production volume was caused primarily by a decrease in the manufacture of electronic products, chemicals and building materials. The 12% decrease in the manufacture of electronic products was caused by the high reference base of August 2014. In August, more than half of the branches of industry did not surpass the volume of the previous year. Although in some of the branches of industry that hold larger shares (the manufacture of food, wood and metal products, and electrical equipment) production rose, it did not compensate for the fall in other branches.
68% of the whole production of manufacturing was sold on the external market in August. Compared to August 2014, the export sales of manufacturing production decreased 7%, domestic sales increased 4%, according to unadjusted data.
In August 2015 compared to July 2015, the seasonally adjusted total industrial production rose by 1%, while the volume of manufacturing production remained on the level of the previous month.Compared to August 2014, the production of electricity decreased by 20% and the production of heat by 1%. The decline in electricity generation was caused by the partial replacement of own production with cheaper imports.
|Economic activity||Change compared to the previous month according to seasonally adjusted dataa||Change compared to the corresponding month of the previous year|
|according to unadjusted data||according to working-day adjusted datab|
|manufacture of computer, electronic and optical products||0.7||-11.9||-11.9|
|manufacture of wood and wood products||1.3||6.1||6.1|
|manufacture of food products||1.9||2.0||1.9|
|manufacture of fabricated metal products||3.8||4.6||4.6|
|manufacture of electrical equipment||-2.3||2.4||2.4|
|manufacture of chemicals and chemical products||3.9||-15.0||-15.0|
|manufacture of furniture||1.3||12.7||12.7|
|manufacture of motor vehicles||6.9||4.3||4.3|
|manufacture of building materials||-0.5||-8.3||-8.3|
|manufacture of machinery and equipment||-16.2||0.9||0.9|
a In the case of the seasonally adjusted volume index of industrial production, the impact of the differing number of working days in a month and seasonally recurring factors have been eliminated. It is calculated only in comparison with the previous period.
b In the case of the working-day adjusted volume index of industrial production, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.The statistics are based on the questionnaires “Industry”, the submission date of which was 15.09.2015, and “Energy production, sales and fuel consumption”, the submission date of which was 10.09.2015. Statistics Estonia published the monthly overview in ten working days.
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