Industrial production continued to fall in October
Text Mark taylor
According to Statistics Estonia, in October, the total production of industrial enterprises decreased by 5.8 per cent at constant prices compared with October 2021. Output fell in all three sectors – by 4.4per cent in electricity production, by 6.1 per cent in manufacturing, and by 0.4 per cent in mining.
“In October, the volume of industrial productiondeclined in almost all manufacturing activities, but compared with September, the fall was not as deep in the more important economic activities,” said Helle Bunder, an analyst at Statistics Estonia.
Among the activities with larger shares, there was an increase in output only in the electronics industry (11.5 per cent), while production volumes in the manufacture of chemical products remained at exactly the same level. Among the larger industries, production volumes fell in the manufacture of wood (15.4 per cent), small declines were also recorded in the manufacture of fabricated metal products (1.3 per cent), electrical equipment (0.5 per cent), and food products (0.8 per cent).
In October 2022, compared with the same month last year, the sales of manufacturing production increased by 12.1 per cent at constant prices according to working-day adjusted data. Export sales rose by 14.5 per cent and domestic sales by 8.5 per cent. With 67.8 per cent of the total production of manufacturing sold to the external market.
When compared with this September, seasonally adjusted total industrial production fell by 0.9 per cent. In energy production, compared with October 2021, the volume of electricity production (in megawatt-hours) increased by 2.9 per cent, while the production of heat decreased by 11.0 per cent.