Industrial production up in mining and electricity production, down in manufacturing
According to Statistics Estonia, in February 2024, the total production of industrial enterprises decreased by 5.7% at constant prices compared with the corresponding month a year earlier. Production increased by 19.3% in mining and by 2.6% in electricity production but decreased by 7% in manufacturing.
Helle Bunder, leading analyst at Statistics Estonia, said that the volume of industrial production1in February rose in slightly more than a third of the manufacturing activities. “Among the activities with larger shares, output grew in the manufacture of chemical products (2.9%), fabricated metal products (0.9%), rubber and plastic products (0.8%), and in repair and installation of machinery and equipment (26.8%),” noted Bunder.
The manufacture of building materials remained more or less unchanged, as the decrease was only 0.5%. A small decline was also recorded in the manufacture of food products (1%).
Among the larger manufacturing activities, output in February decreased in the manufacture of wood (16.9%), electrical equipment (5.6%), and computers and electronic products (10.4%).
66.1% of the total production of manufacturing was sold to the external market in February 2024.
Compared with February 2023, the sales of manufacturing production2 decreased by 9.2% at current prices according to working-day adjusted data. Domestic sales fell by 10.6% and export sales by 8.4%.
In February compared with January, the seasonally adjusted total industrial production grew by 1% and the production of manufacturing by 2.1%.
In energy production, the volume of electricity production (in megawatt-hours) decreased by 8.6%, whereas the production of heat increased by 9.1% in February.
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.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Kai Kaljumäe
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9184
press [at] stat.ee (press[at]stat[dot]ee)