Estonia Industrial production


Estonia: Growth in industrial production picks up to two-year high in December

January 30, 2015

In December, industrial production increased a working-day adjusted 7.6% over the same month of the previous year, which came in well above the 4.7% rise tallied in November and marked the fastest pace of growth since December 2012. According to Statistics Estonia, December’s notable increase was mainly driven by strong growth in the energy sector, as well as in the production of electronics, wood and metal products.

A month-on-month assessment shows that industrial output decreased 1.2% in seasonally- and working-day-adjusted terms in December, which contrasted the 1.3% rise observed in November. However, the overall trend improved in December, with annual average growth in industrial production rising from 1.3% in November to 2.4%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.4% in 2015, which is unchanged from the previous month’s projection. In 2016, the panel also expects industrial production to increase 2.4%.

Author:, Economist

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Estonia Industrial production Chart

Estonia Industry December 2014

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

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