Industrial production fell for the second month
According to Statistics Estonia, in May 2020, the production of industrial enterprises decreased by 18% compared to May 2019. Production decreased in all three industrial activities: manufacturing, energy production and mining.
In May, the total production in manufacturing decreased by 17% year on year. There was a fall in almost all manufacturing activities, with the greatest production decreases in the manufacture of motor vehicles, trailers and semi-trailers (-45%), repair of machinery and equipment (-39%) and manufacture of furniture (-34%). Production increased in the manufacture of paper and chemical products and in quarrying of stone.
According to Helle Bunder, analyst at Statistics Estonia, in May, industrial production continued to decrease at about the same rate as in April. “It is positive, however, that there wasn’t such a significant fall in the manufacture of food products and wood, which are the two manufacturing activities with the largest shares,” said Bunder.
66% of the total production of manufacturing was sold to the external market. The shares of sales for export were largest in the case of manufacture of electronic products and pharmaceutical products. According to unadjusted data, the sales of manufacturing production for export decreased by 25% and sales to the domestic market by 17% year on year.
In May, compared to April, the seasonally adjusted total industrial production remained the same, while the production of manufacturing fell by 1%.
In energy production, the production of electricity decreased by 41% and the production of heat increased by 9% compared to May 2019.
|Economic activity||Change on previous month according to seasonally adjusted data*||Change on same month of previous year|
|according to unadjusted data||according to working-day adjusted data**|
|manufacture of wood and wood products||-1.9||-9.1||-6.2|
|manufacture of food products||1.1||-8.5||-4.8|
|manufacture of computers, electronic and optical products||9.4||-24.7||-21.1|
|manufacture of fabricated metal products||-5.8||-22.3||-18.3|
|manufacture of electrical equipment||-9.9||-16.3||-9.5|
|manufacture of furniture||20.9||-38.9||-34.0|
|manufacture of motor vehicles||24.4||-48.0||-45.3|
|manufacture of building materials||-2.5||-29.9||-26.0|
|manufacture of machinery and equipment||-6.3||-24.2||-18.9|
|manufacture of chemical products||-23.4||-2.8||2.1|
* The impact of different number of working days in a month and seasonally recurring factors has been eliminated. It is calculated only in comparison with the previous period.
** The impact of different number of working days in a month has been eliminated. It is calculated only in year-on-year comparisons.
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.
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