Output declined in most industrial activities in May
According to Statistics Estonia, in May 2023, the total production of industrial enterprises decreased by 12.7% at constant prices compared with the corresponding month of 2022. Output declined in two of the three main sectors: by 31.5% in electricity production and by 13.1% in manufacturing. In mining, output increased by 36.3%.
Helle Bunder, leading analyst at Statistics Estonia, said that, in May, the volume of industrial production1 fell in most of the manufacturing activities. Among the activities with larger shares, there was a rise only in the production of shale oil (17.6%), the manufacture of motor vehicles, trailers and semi-trailers (10.0%), and the manufacture of beverages (7.9%). “Among the larger industries, output decreased in the manufacture of wood (20.3%), electrical equipment (11.9%), fabricated metal products (12.4%), and electronic products (14.6%). There was a slight fall also in the manufacture of food products (1.4%),” explained Bunder.
The rise in the output of the mining sector was due to the increased extraction of peat in May, supported by favourable weather conditions which allowed the season to begin sooner.
In May 2023, compared with May 2022, the sales of manufacturing production2 decreased by 11.6% at current prices according to working-day adjusted data. Domestic sales fell by 10.7% and export sales by 12.2%.
65.9% of the total production of manufacturing was sold to the external market.
In May 2023 compared with April, the seasonally adjusted total industrial production increased by 2.2% and the production of manufacturing by 0.2%.
In energy production, compared with May 2022, the volume of electricity production (in megawatt-hours) decreased by 43.5% and the production of heat by 15.3%.
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:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee