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Estonia Industrial production August 2023

Estonia: Industrial output deteriorates in August

Industrial production nosedived 11.9% year on year in seasonally and calendar-adjusted terms in August (July: -9.5% ). The figure was largely driven by a deterioration in manufacturing output. In addition, mining and quarrying production continued to contract.

On a monthly basis, industrial production increased 2.2% in seasonally adjusted terms in August, contrasting July’s 3.8% fall and marking the best result since August 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 11.1%, down from July’s minus 9.8%.

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