The volume of industrial production decreased

According to Statistics Estonia, in August 2015, the production of industrial enterprises decreased 3% compared to August of the previous year. Production decreased in manufacturing and energy production but increased in mining.

While in the beginning of 2015, manufacturing production grew compared to the same month of the previous year, in the second half-year, the growth turned into decline. In both July and August, production fell 2% compared to the corresponding month of the previous year. In August, the decline in production volume was caused primarily by a decrease in the manufacture of electronic products, chemicals and building materials. The 12% decrease in the manufacture of electronic products was caused by the high reference base of August 2014. In August, more than half of the branches of industry did not surpass the volume of the previous year. Although in some of the branches of industry that hold larger shares (the manufacture of food, wood and metal products, and electrical equipment) production rose, it did not compensate for the fall in other branches.

68% of the whole production of manufacturing was sold on the external market in August. Compared to August 2014, the export sales of manufacturing production decreased 7%, domestic sales increased 4%, according to unadjusted data.

In August 2015 compared to July 2015, the seasonally adjusted total industrial production rose by 1%, while the volume of manufacturing production remained on the level of the previous month.

Compared to August 2014, the production of electricity decreased by 20% and the production of heat by 1%. The decline in electricity generation was caused by the partial replacement of own production with cheaper imports.Diagram: Volume index and trend of production in manufacturing

Read more from Statistics Estonia

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