Industrial production down in July
According to Statistics Estonia, in July, the total production of industrial enterprises decreased 6.4% at constant prices compared with July 2021. Output rose in one of the three sectors – up 5.2% in electricity production – but fell 6.4% in manufacturing and 17.5% in mining.
Helle Bunder, analyst at Statistics Estonia, said that the volume of industrial production1 decreased in most manufacturing activities in July. “Among the activities with larger shares, manufacture of wood saw a significant drop of 16.3%,” said Bunder. Output also fell in the manufacture of fabricated metal products (11.9%), building materials (8.5%), and electrical equipment (2.9%). Among the larger industries, there was an increase in production in the manufacture of electronic products (10.4%), food products (3.4%), and shale oil (9.1%).
In July 2022, compared with the same month last year, sales of manufacturing production2 grew 12.1% at current prices and according to working-day adjusted data. Export sales increased 15.7% (21.9% in the euro area and 8.2% in the non-euro area) and domestic sales was up 7.0%.
66.5% of the total production of manufacturing was sold to the external market.
In July compared with June, the seasonally adjusted total industrial production decreased 7.4% and the production of manufacturing 5.2%.
In energy production, compared with July 2021, the volume of electricity production (in megawatt-hours) increased 17.1%, while the production of heat decreased 11.9%.
1 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.
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.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9191