April 17, 2024
According to Statistics Estonia, in February 2024, the total production of industrial enterprises decreased by 5.7% at constant prices compared with the corresponding month a year earlier. Production increased by 19.3% in mining and by 2.6% in electricity production but decreased by 7% in manufacturing.
Helle Bunder, leading analyst at Statistics Estonia, said that the volume of industrial production1in February rose in slightly more than a third of the manufacturing activities. “Among the activities with larger shares, output grew in the manufacture of chemical products (2.9%), fabricated metal products (0.9%), rubber and plastic products (0.8%), and in repair and installation of machinery and equipment (26.8%),” noted Bunder.
The manufacture of building materials remained more or less unchanged, as the decrease was only 0.5%. A small decline was also recorded in the manufacture of food products (1%).
Among the larger manufacturing activities, output in February decreased in the manufacture of wood (16.9%), electrical equipment (5.6%), and computers and electronic products (10.4%).
66.1% of the total production of manufacturing was sold to the external market in February 2024.
Compared with February 2023, the sales of manufacturing production2 decreased by 9.2% at current prices according to working-day adjusted data. Domestic sales fell by 10.6% and export sales by 8.4%.
In February compared with January, the seasonally adjusted total industrial production grew by 1% and the production of manufacturing by 2.1%.
In energy production, the volume of electricity production (in megawatt-hours) decreased by 8.6%, whereas the production of heat increased by 9.1% in February.
Source: Statistics Estonia
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