Industrial output decreased in May
Text Mark Taylor Photo Andrei Chertkov
According to data released by Statistics Estonia, in May 2023, the total production of industrial enterprises decreased by 12.7 per cent at constant prices compared with the same month in 2022. Output declined in two of the three main sectors: by 31.5 per cent in electricity production and by 13.1 per cent in manufacturing. However, in mining, output increased by 36.3 per cent.
In May, the volume of industrial production fell in most manufacturing activities. Among the activities with larger shares, there was a rise only in the production of shale oil (17.6 per cent), the manufacture of motor vehicles, trailers and semi-trailers (10.0 per cent), and the manufacture of beverages (7.9 per cent).
“Among the larger industries, output decreased in the manufacture of wood (20.3 per cent), electrical equipment (11.9 per cent), fabricated metal products (12.4 per cent), and electronic products (14.6 per cent). There was also a slight fall in the manufacture of food products (1.4 per cent),” explained Helle Bunder, a leading analyst at Statistics Estonia.
The rise in the output of the mining sector was due to the increased extraction of peat in May, supported by favourable weather conditions which allowed the season to begin earlier than usual.
In May 2023, compared with May 2022, the sales of manufacturing production decreased by 11.6 per cent at current prices according to working-day adjusted data. Domestic sales fell by 10.7 per cent and export sales by 12.2 per cent.
Compared with April 2023, the seasonally adjusted total industrial production increased by 2.2 per cent and the production of manufacturing by 0.2 per cent.