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Industrial production in Estonia fell in 2022 due to weaker performance in the second half of the year


According to Statistics Estonia, in 2022, the total production of industrial enterprises fell by 1.9% at constant prices compared with the year before. Of the three main industrial sectors, production increased by 7.3% in mining and by 5.4% in energy production but decreased by 2.7% in manufacturing.

“The beginning of 2022 was good for manufacturing. March was the best month as manufacturing production grew by 6.7% year on year,” said Helle Bunder, analyst at Statistics Estonia. “From June onwards, manufacturing production started to decline. November was the weakest month of 2022 with a 13.1% decrease in output,” added Bunder.

In 2022, production volumes fell in more than half of the 23 manufacturing activities. Among the larger industries, output increased in the manufacture of computers and electronic products (10.3%) and in the manufacture of electrical equipment (4.8%). Production volumes remained more or less on the same level in the manufacture of shale oil and in the manufacture of food products. Among the manufacturing activities with larger shares, output decreased in the manufacture of wood (7.6%), fabricated metal products (5.2%), and furniture (10.1%).

67.4% of the total production of manufacturing was sold to the external market in 2022. Compared with 2021, export sales increased by 18.1% and domestic sales by 17.1% at current prices according to working-day adjusted data.

In December 2022, total industrial production fell by 11.6% and manufacturing production by 11.5% compared with December 2021. In energy production, the volume of electricity production (in megawatt-hours) decreased by 16.2% and the production of heat by 10.7% year on year.

In December compared with November, the seasonally adjusted total industrial production grew by 2.1% and the production of manufacturing by 3.0%.

Source: Statistics Estonia
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