Statistics: Industrial production volume fell by 10.5 percent in 2023

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The total production of industrial enterprises fell by 10.5 percent on year to 2023, state agency Statistics Estonia reports.

The index of industrial production covers the economic indicators of three industrial activities: Mining and quarrying, including of oil shale, energy production, and manufacturing.

At constant prices, in 2023 compared with 2022, output fell in all three industrial sectors, the agency says: By 21 percent in electricity production, by 9.8 percent in manufacturing, and by 4.7 percent in the case of mining.

Commenting on the results, Helle Bunder, leading analyst at Statistics Estonia, said that production volumes fell every month in 2023.”Last year was a difficult one for industrial enterprises.

Read more: ERR.EE