Decline in industrial production worsened further in April
Text Mark Taylor Photo Lukas / Pexels
According to data published by Statistics Estonia, in April 2023, the total production of industrial enterprises decreased by 15.1 per cent at constant prices compared with the same month in 2022. Output fell in all three sectors: by 22.0 per cent in electricity production, by 14.7 per cent in manufacturing, and by 9.1 per cent in mining.
“The volume of industrial production fell in almost all manufacturing activities in April. Of the activities with larger shares, growth was recorded only in the production of shale oil (2.4 per cent) and motor vehicles, trailers and semi-trailers (12.8 per cent),” said Helle Bunder, a leading analyst at Statistics Estonia.
Bunder added that among the larger industries, as in the previous month, the manufacture of wood decreased the most (24.0 per cent), while output also declined in the manufacture of electrical equipment (6.8 per cent) and fabricated metal products (9.0 per cent). The fall was smaller in the manufacture of electronic products (2.3 per cent) and food products (1.4 per cent).
In April 2023, compared with April 2022, the sales of manufacturing production decreased by 11.9 per cent at current prices according to working-day adjusted data. Domestic sales fell by 14.1 per cent and export sales by 10.5 per cent.
Compared with March 2023, the seasonally adjusted total industrial production fell by 1.4 per cent and the production of manufacturing by 1.5 per cent.
In energy production, compared with April 2022, the volume of electricity production (in megawatt-hours) decreased by 27.4 per cent and the production of heat by 18.1 per cent.