Early spring caused a decrease in energy consumption

According to Statistics Estonia, in March 2014, the production of industrial enterprises fell 3% compared to March of the previous year. The production in energy and mining decreased, while the production in manufacturing increased.

Compared to March 2013, the production of electricity decreased by 21% and the production of heat decreased by 26%. The decrease in electricity production was mainly caused by reduced consumption and a decrease in export.

In March, the increase in manufacturing was 1% compared to March of the previous year. Among the branches of industry holding larger shares, production rose in the manufacture of wood, food products and electrical equipment. The volume of production fell in the manufacture of electronic, chemical and metal products.

In March, 71% of the whole production of manufacturing was sold on the external market. Compared to the same month of the previous year, export sales of manufacturing production rose 5% and domestic sales increased 10% at current prices.

In March 2014, compared to February 2014, the seasonally adjusted total industrial production increased 1%; production in manufacturing remained at the level of February.

The volume index and trend of production in manufacturing, January 2005 – March 2014
(2010 = 100)

Diagram: The volume index and trend of production in manufacturing

 

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Elite unit to combat large-scale economic fraud

Central Criminal Police is setting up a separate unit to fight major economic fraud and has allocated 300,000 euros in wages to attract the best minds, writes Eesti Päevaleht.

The unit’s head Janek Maasik says that the unit’s objective is to improve Estonia’s economic environment as it will focus on the most complex and severe fraud cases such as large-scale tax evasion, fraudulent bankruptcies, economic fraud committed by cyber crime, etc.

The unit will be headed by Janek Maasik who has battled fraud in South Prefecture of the Police and Borderguard Authority. The team will be manned by anti-fraud specialists of the central criminal police, experts of the tax and customs authority and former staff of KAPO. The unit will have about 50 officials who will be located around Estonia.

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