The volume of industrial production decreased

According to Statistics Estonia, in September 2015, the production of industrial enterprises decreased 4% compared to September of the previous year. Production decreased in manufacturing, energy and 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% and in September 4% compared to the corresponding month of the previous year. In September, the decline in production volume was caused primarily by a decrease in the manufacture of electronic products, chemicals, and machinery and equipment. The 7% decrease in the manufacture of electronic products was caused by the high reference base of September 2014. In September, 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 wood and metal products, and electrical equipment) production rose, it did not compensate for the fall in other branches.

70% of the whole production of manufacturing was sold on the external market in September. Compared to September 2014, the export sales of manufacturing production decreased 10% and domestic sales decreased 3%, according to unadjusted data.

In September 2015 compared to August 2015, the seasonally adjusted total industrial production as well as the volume of manufacturing production fell by 1% compared to the previous month.

Compared to September 2014, the production of electricity decreased by 9% and the production of heat increased by 2%.

Diagram: Volume index and trend of production in manufacturing

Read more from Statistics Estonia in here

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: