Analytics, Estonia, Industry, Markets and Companies

While in February the production in manufacturing increased 5% and in March 3% compared to the same month of the previous year, then in April the growth in production decelerated to 1%. Since May, the growth turned into decline – in May and June industrial production decreased 1% compared to the corresponding month of the previous year. In June, more than half of the branches of industry did not surpass the volume of the previous year. The decline in production volume was caused primarily by a decrease in the manufacture of electronic products, food and electrical equipment. Although among the branches of industry holding larger shares (the manufacture of wood and chemical products, furniture and motor vehicles), the production rose, it did not compensate for the fall in several smaller branches.

71% of the whole production of manufacturing was sold on the external market in June. Compared to June 2014, the export sales increased 6% and the domestic sales of manufacturing production decreased 6% according to unadjusted data.

In June 2015 compared to May 2015, the seasonally adjusted total industrial production fell by 1%, the volume of manufacturing production did not change significantly.

Compared to June 2014, the production of electricity decreased by 42% and the production of heat by 1%. The decline in electrical output was caused by the partial replacement of own production with cheaper imports.

Change in volume index of industrial production, June 2015 (percentages)

^a In the 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 the 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.

The statistics are based on the questionnaires “Industry”, the submission date of which was 15.07.2015, and “Energy production, sales and fuel consumption”, the submission date of which was 10.07.2015. Statistics Estonia published the monthly overview in eleven working days.