The industrial production decreased in June
According to Statistics Estonia, in June 2012, the production of industrial enterprises decreased by 4% compared to the same month of the previous year. The main reason for causing the decline was the decrease in energy and mining production.
Compared to June 2011, the production of electricity decreased by 14% and the production of heat increased by 6%. The decrease in electricity production was caused by the growth of import due to the low-price offer of the electricity from Nordic countries.
A small growth which took place at the beginning of 2012 in manufacturing was replaced with a small decline since March. In June the decrease in manufacturing accounted for 1% compared to the previous year. The main reason for the decline in the production was the high comparison basis in the manufacturing of electronic products – this effect will last till September.
In June, the production did not exceed the volume of the same month of the previous year in half branches of industry. Among the branches of industry holding larger shares, the production in the manufacture of electronic, wood and food products fell by 17%, 5% and 4%, respectively. The production in the manufacture of electrical equipment and refined petroleum products grew by 12% and 58%, respectively.
In June 2012 compared to May 2012, the seasonally adjusted total industrial production decreased by 2%, in manufacturing by 1%.
The volume index and trend of production in manufacturing, January 2003 – June 2012 (2005 = 100)
| 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 | -1.6 | -1.4 | -3.9 |
| Energy production | -0.5 | -10.8 | -10.8 |
| Mining | -12.7 | -30.5 | -30.5 |
| Manufacturing | -0.8 | 1.9 | -0.8 |
| manufacture of computer, electronic and optical products | -3.8 | -15.1 | -17.4 |
| manufacture of wood and wood products | -4.3 | -2.9 | -5.2 |
| manufacture of food products | -3.3 | -2.7 | -4.1 |
| manufacture of fabricated metal products | 3.8 | 4.3 | 0.4 |
| manufacture of electrical equipment | -5.0 | 11.8 | 11.8 |
| manufacture of chemicals and chemical products | -7.2 | 1.8 | -1.4 |
| manufacture of furniture | -4.1 | 3.8 | -0.1 |
| manufacture of motor vehicles | 2.8 | -3.3 | -5.6 |
| manufacture of building materials | 4.9 | 6.3 | 3.8 |
| manufacture of refined petroleum products | 72.4 | 56.0 | 57.6 |
a In 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 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.