Volume of industrial production decreased by 4% in 2024
According to Statistics Estonia, in 2024, the total production of industrial enterprises decreased by 4% at constant prices compared with the year before. Among the three industrial sectors, output decreased by 4.4% in manufacturing, remained the same in electricity production and increased by 2.9% in mining.
Helle Bunder, leading analyst at Statistics Estonia, said that the volume of production in manufacturing decreased in 2024 as a whole but there were signs of improvement at the end of the year. “Manufacturing output started to grow in October and November but fell a little in December,” explained Bunder.
Last year, production volume declined in two thirds of the 23 manufacturing activities. Looking at the larger industries, there was an increase in output in the manufacture of food products (5.1%), rubber and plastic products (0.7%) and other transport equipment (11.3%), and also in the repair and installation of machinery and equipment (2.1%). Among the major industries, output decreased in the manufacture of wood (10.7%), electrical equipment (4.7%), fabricated metal products (1.7%), and computers and electronic products (7%).
67.4% of the total production of manufacturing was sold to the external market in 2024. Compared with 2023, export sales decreased by 1.9% and domestic sales by 8.5% at current prices according to working-day adjusted data.
In December 2024, total industrial production fell by 4.2% and manufacturing production by 2.9% compared with December 2023. In energy production, the volume of electricity production (in megawatt-hours) increased by 0.4%, while the production of heat decreased by 9.9% in December.
In December compared with November, the seasonally adjusted total industrial production grew by 0.4% and the production of manufacturing by 0.9%.
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.
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)