According to the Department of Statistics, in November 2024 industrial enterprises produced almost the same amount of output at constant prices as in the same month of 2023: a decrease of 0.1%.
Of the three industry sectors, production increased in manufacturing (1.5%), but decreased in mining (2.3%) and energy (15.3%).
Leading analyst of the Department of Statistics Helle Bunder explained that in November the volume of industrial output increased in more than half of the manufacturing industries: “Among the most significant industrial sectors, the production of food products (7.8%), metal products (5.8%) and electrical equipment (20%), to a small extent also the production of computers and electronic equipment (0.9%).” She added that among the most significant industrial sectors, reductions were observed in wood processing (3.4%) and the production of vehicles, trailers and semi-trailers (21.2%).
In November 2024, 68.4% of the total volume of manufacturing products was sold on the foreign market.
Compared to November 2023, sales of products in the manufacturing industry increased at current prices by 0.8% (according to calendar adjusted data). Sales of products on the domestic market decreased by 7%, but export sales increased by 5.3%.
According to seasonally adjusted data, in November industrial production increased by 2.8% compared to October, and in the manufacturing industry by 2.7%.
In the energy sector, electricity production in November quantitatively (MWh) decreased by 8.6%, heat production – by 9%.
Industrial output volume index is an index that demonstrates the change in the volume of industrial output in constant prices compared to the base period. To calculate products at constant prices, the producer price index is used.
Industrial turnover index is an index that demonstrates the change in the cost of sold industrial products at current prices compared to the base period.
Related articles
The stocks most frequently purchased by LHV and Swedbank clients last month were quite similar, with banking, energy and technology in first place.
The vast majority of solar panels installed in Europe are made in China. There is a possibility that Chinese companies will also occupy the European wind turbine market if the investigation launched by the European Commission does not prevent this. Does Estonia’s transition to green energy mean dependence on China?
The price of energy is a key factor in the competitiveness of an economy and should therefore be central to policy making. We have clearly defined responsibilities in ensuring the transition to green energy, but it is difficult to find someone responsible for competitive energy prices, writes former head of Eesti Energia Hando Sutter.
Business managers often face a temporary shortage of free working capital, which can be caused by seasonality, long payment terms, unexpected expenses, or, conversely, the need to expand the business. New domestic financial services provider HyBa (pronounced hyuba) offers flexible financial solutions specifically for small businesses where conventional financial products do not always meet the needs of small businesses. Let’s take a closer look at what makes this service different.
Source: www.dv.ee
