Estonia Industry December 2018


Estonia: Industrial output growth remains solid in December

February 4, 2019

According to Statistics Estonia, annual working day-adjusted industrial production growth moderated to 5.8% in December from 7.8% in November, which had marked the strongest expansion in 17 months. December’s print reflected an impressive expansion in the energy sector which, coupled with healthy manufacturing output growth, more than offset yet another contraction in the mining sector.

On a seasonally-adjusted month-on-month basis, industrial production fell 0.1% in December, compared to near three-year high growth of 4.5% in November. Meanwhile, the annual average growth in industrial production moderated from 4.4% in November to 4.3 in December.

FocusEconomics Consensus Forecast participants see industrial output expanding 4.1% in 2019, up 0.2 percentage points from last month’s estimate. In 2020, industrial production is expected to grow 4.1%.

Author:, Research Team Manager

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Estonia Industry Chart

Estonia Industry December 2018

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

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