In March, the volume of industrial production decreased
In mining, production fell 40% because of a drop in oil shale mining due to low demand caused by the low price of oil and oil shale products.
In March, manufacturing production decreased 3% compared to March of the previous year. The fall in production was mostly caused by the continued decrease in the manufacture of electronic and metal products. Among the branches of industry holding larger shares, production fell also in the manufacture of food products and chemicals. In March, about a half of the branches of industry did not surpass the volume of the previous year. Although among some of the branches of industry holding larger shares (the manufacture of wood products, electrical equipment and furniture), production rose, it did not compensate for the fall in other branches.
70% of the whole production of manufacturing was sold on the external market in March. Compared to March 2015, the export sales of manufacturing production fell 6% according to unadjusted data, while domestic sales remained on the same level as in March 2015.
In March 2016 compared to January, the seasonally adjusted total industrial production fell 3%; production in manufacturing decreased by 4%.
Compared to March 2015, the production of electricity decreased by 8% and the production of heat increased by 10%. The decline in electricity generation was caused by the partial replacement of own production with cheaper imports.
| Economic activity | Change compared to the previous month according to seasonally adjusted dataa | Change compared to the corresponding month of the previous year | |
|---|---|---|---|
| according to unadjusted data | according to working-day adjusted datab | ||
| TOTAL | -3.4 | -4.8 | -4.8 |
| Energy production | 1.1 | -0.7 | -0.7 |
| Mining | -21.5 | -40.5 | -40.5 |
| Manufacturing | -3.7 | -2.9 | -2.9 |
| manufacture of computer, electronic and optical products | -0.7 | -10.2 | -10.2 |
| manufacture of wood and wood products | -1.2 | 5.4 | 5.4 |
| manufacture of food products | 1.7 | -2.1 | -2.1 |
| manufacture of fabricated metal products | 0.4 | -3.7 | -3.7 |
| manufacture of electrical equipment | -2.1 | 8.9 | 8.9 |
| manufacture of chemicals and chemical products | -19.0 | -25.4 | -25.4 |
| manufacture of furniture | -5.5 | 2.5 | 2.5 |
| manufacture of motor vehicles | -8.9 | -0.7 | -0.7 |
| manufacture of building materials | -8.3 | -5.0 | -5.0 |
| manufacture of machinery and equipment | -2.2 | 1.2 | 1.2 |
a In the case of the seasonally adjusted volume index of industrial production, the impact of the differing number of working days in a month and seasonally recurring factors have been eliminated. It is calculated only in comparison with the previous period.
b In the case of the working-day adjusted volume index of industrial production, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.
The statistics are based on the questionnaires “Industry”, the submission date of which was 15.04.2016, and “Energy production, sales and fuel consumption”, the submission date of which was 10.04.2016. Statistics Estonia published the monthly overview in nine working days.