Estonia Industry


Industrial production picks up in July

In July, industrial production expanded a working-day adjusted 7.8% over the same month last year, which was above the revised 5.2% increase tallied in June (previously reported: +4.7% year-on-year). According to Statistics Estonia, the acceleration in industrial production in July was mainly driven by stronger growth in the mining and energy production sectors.

A month-on-month comparison also paints a positive picture, as industrial output rebounded from minus 0.2% in June to plus 2.1% in July in seasonally and working-day adjusted terms. The overall trend continues to improve, with annual average growth in industrial production rising from 2.9% in June to 3.9% in July.

FocusEconomics Consensus Forecast panellists expect industrial production to expand 3.1% in 2013, which is unchanged from the previous month's projection. Next year, the panel expects industrial production to increase 4.9%.

Author:, Economist

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Estonia Industry Chart

Estonia Industry July 2013

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Estonia and FocusEconomics calculations.

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