The decline in industrial production continued in July
According to Statistics Estonia, in July 2024, the total production of industrial enterprises decreased by 5.8% at constant prices compared with July last year. Among the three main sectors, output increased by 16.9% in mining and by 16.3% in electricity production but decreased by 7.8% in manufacturing.
Helle Bunder, leading analyst at Statistics Estonia, explained that, in July, the volume of industrial production declined in more than two thirds of the manufacturing activities. “Looking at the larger industries, output decreased in the manufacture of wood (7.1%), electrical equipment (5.6%), and computers and electronic products (19.8%). There was also a slight fall in the manufacture of fabricated metal products (1.1%). On the other hand, output grew in the manufacture of food products (13.5%), rubber and plastic products (4.4%), and building materials (1.8%),” noted Bunder.
In July, 64.9% of the total production of manufacturing was sold to the external market.
Compared with July 2023, the sales of manufacturing production decreased by 6.8% at current prices according to working-day adjusted data. Domestic sales fell by 7.5% and export sales by 6.4%.
In July compared with June, the seasonally adjusted total industrial production fell by 4.7% and the production of manufacturing by 4.3%.
In energy production, the volume of electricity production (in megawatt-hours) increased by 41.5% and the production of heat by 4.3% in July.
Volume 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.
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:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)