The volume of industrial production decreased in March

According to Statistics Estonia, in March 2016, the production of industrial enterprises decreased 5% compared to March of the previous year. Production decreased in the energy sector, mining and quarrying, and manufacturing.

In mining, production fell 40% because of a drop in oil shale mining due to low demand caused by the low price of oil and oil shale products.

In March, manufacturing production decreased 3% compared to March of the previous year. The fall in production was mostly caused by the continued decrease in the manufacture of electronic and metal products. Among the branches of industry holding larger shares, production fell also in the manufacture of food products and chemicals. In March, about a half of the branches of industry did not surpass the volume of the previous year. Although among some of the branches of industry holding larger shares (the manufacture of wood products, electrical equipment and furniture), 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 March. Compared to March 2015, the export sales of manufacturing production fell 6% according to unadjusted data, while domestic sales remained on the same level as in March 2015.

In March 2016 compared to January, the seasonally adjusted total industrial production fell 3%; production in manufacturing decreased by 4%.

Compared to March 2015, the production of electricity decreased by 8% and the production of heat increased by 10%. The decline in electricity generation was caused by the partial replacement of own production with cheaper imports.Diagram: Volume index of production in manufacturing and its trend

Read mored from Statistics Estonia

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