Industrial production fell by 3% in June
According to Statistics Estonia, in June 2024, the total production of industrial enterprises fell by 3% compared with June last year. Among the three industrial sectors, output increased by 4% in electricity production but decreased by 19.7% in mining and by 2.3% in manufacturing.
Helle Bunder, leading analyst at Statistics Estonia, pointed out that the volume of industrial production declined in most manufacturing activities in June.
“Looking at the larger industries, output in June decreased in the manufacture of wood (3.9%) and electrical equipment (7.4%), and by a few percent also in the manufacture of computers and electronic products (1.2%) and fabricated metal products (2.2%),” Bunder stated, adding that, among the major industries, output grew in the manufacture of food products (14%), including dairy products (25.4%), and rubber and plastic products (7.6%).
In June, 66.8% of the total production of manufacturing was sold to the external market.
Compared with June 2023, the sales of manufacturing production remained almost unchanged in June this year, increasing by just 0.4% according to working-day adjusted data. Domestic sales was up by 1.2%, while export sales remained at the previous year's level.
In June compared with May this year, the seasonally adjusted total industrial production declined by 3.5% and the production of manufacturing by 2.9%.
In energy production, the volume of electricity production (in megawatt-hours) in June increased by 13.2% and the production of heat by 13.4% compared with June last year.
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