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Estonia Industrial production April 2023

Estonia: Industrial activity drops at sharpest rate since May 2020 in April

Industrial output plunged 15.1% year on year in seasonally and calendar-adjusted terms in April (March: -12.6% ). April’s figure marked the worst reading since May 2020. April’s notable drop was partly driven by a bigger fall in manufacturing output, as it recorded the weakest reading since May 2020. In contrast, mining and quarrying production contracted at a softer rate.

On a monthly basis, industrial production dropped 1.5% in seasonally adjusted terms in April, which was greater than March’s 0.8% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.2% in April, down from March’s minus 5.6%.

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