Estonia Industry


Estonia: Industrial production contraction less severe in January

March 5, 2014

In January, industrial production fell a working-day adjusted 1.2% over the same month last year, which was a considerably smaller drop than the 5.9% contraction tallied in December. According to Statistics Estonia, a massive contraction in energy production was partially offset by increases in the mining and manufacturing industries.

A month-on-month assessment shows that industrial output increased 4.3% in seasonally- and working-day adjusted terms in January, which contrasted the 4.2% decrease observed in December. The overall trend was down in January, with annual average growth in industrial production falling from 3.0% in December to 2.5% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.7% in 2014, which is down 0.6 percentage points from the previous month's projection. In 2015, the panel expects industrial production to increase 5.3%.

Author:, Economist

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Estonia Industry Chart

Estonia Industry January 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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