Industrial production in August declined significantly in the manufacture of wood

Helle Bunder, leading analyst at Statistics Estonia, pointed out that, as in the first half of the year, when the volume of manufacturing declined by 6%, the fall continued at the same rate in August. “Also, as in the previous months, the volume of industrial production was down in two thirds of the manufacturing activities,” Bunder added.

Looking at the larger industries, output decreased in the manufacture of wood (14.4%), electrical equipment (4.7%), and building materials (8%). The manufacture of food products and fabricated metal products remained nearly unchanged, with production falling by just 0.2% and rising by 0.7%, respectively. However, among the activities with larger shares, output grew in the manufacture of computers and electronic products (2.5%), rubber and plastic products (6%), and chemical products (2.4%).

67% of the total production of manufacturing was sold to the external market in 2024.

Compared with August 2023, the sales of manufacturing production decreased by 4.9% at current prices according to working-day adjusted data. Domestic sales fell by 13.4%, while export sales grew by 0.5%.

In August compared with July, the seasonally adjusted total industrial production grew by 1.8% and the production of manufacturing by 2.8%.

In energy production, the volume of electricity production (in megawatt-hours) increased by 10.3% and the production of heat by 3.2% in August.

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.

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:

Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)

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