A town in Estonia

Estonia Industrial production November 2022

Estonia: Industrial activity records largest decrease in two years in November

Industrial output nosedived 12.2% year on year in seasonally and calendar-adjusted terms in November, which was a deterioration from October’s 5.9% decrease. November’s figure marked the worst reading since May 2020. Looking at the details of the release, the deceleration was broad-based. However, the manufacturing sector registered the steepest drop, more than doubling Octobers fall. Wood production—which accounts for 20% of manufacturing output—saw the biggest contraction. In addition, mining output shrank by a whopping 11.2%, down from Octobers minus 0.4%.

On a monthly basis, industrial output dropped 3.7% in seasonally adjusted terms in November, which was significantly below Octobers 1.0% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.5% in November, contrasting October’s plus 1.2% reading.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen