Industrial Production in Estonia
The Estonian economy recorded an average industrial production growth rate of 2.0% in the decade to 2024. In 2024, industrial production growth was -4.0%. For more industry information, visit our dedicated page.
Estonia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Estonia from 2024 to 2015.
Source: Macrobond.
Estonia Industry Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | -3.0 | 13.3 | 1.8 | -9.7 | -3.4 |
Industrial output rebounds in June
Latest reading: Industrial output expanded 3.0% year on year in seasonally and calendar-adjusted terms in June, which contrasted May's 2.0% decrease. The figure was partly driven by an improvement in manufacturing output growth. In contrast, mining and quarrying production fell markedly. On a monthly basis, industrial output decreased 0.4% in seasonally adjusted terms in June, moderating from May’s 1.1% fall. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 1.1% in June, up from May's minus 2.1%.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Estonian industry projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Estonian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Estonian industry projections.
Want to get access to the full dataset of Estonian industry forecasts? Send an email to info@focus-economics.com.
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