Industry in Estonia
Estonia - Industry
Industrial production growth slows in June
According to Statistics Estonia, annual industrial production growth eased from a revised 3.4% reading in May (previously reported: +3.0% year-on-year) to 2.5% in June. The slowdown was largely driven by a soft performance in the manufacturing sector: Output growth slowed from 5.3% year-on-year in May to 1.5% in June, led by a marked slowdown in machinery and equipment output growth, as well as by contractions in the manufacture of wood and wood products, furniture, and building materials. The mining sector, however, picked up pace in June, expanding 16.5% annually in the month (May: 2.4% yoy). Energy production, meanwhile, swung from a 14.1% contraction in May to a 2.2% expansion in June.
On a seasonally-adjusted month-on-month basis, industrial production output contracted for the third consecutive month, falling 0.9% in June, a deterioration from the previous month’s revised 0.1% drop (previously reported: -0.4% month-on-month). Meanwhile, the annual average variation in industrial production fell for the tenth consecutive month to 4.4% in June, from 5.2% in May, marking the lowest print since January 2017.
FocusEconomics panelists project the economy to grow 3.7% this year, which is up 0.1 percentage points from last month’s forecast. In 2019, our panelists see GDP growth moderating to 3.3%.
Estonia - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 4.4 | 4.3 | -2.2 | 2.6 | 8.0 |
Estonia Industry Chart
Source: Statistics Estonia.
Estonia Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.13 | 0.65 % | Aug 15 |
| Stock Market | 1,241 | -0.38 % | Aug 15 |
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Economic News
Estonia: Industrial production growth slows in June
July 31, 2018
According to Statistics Estonia, annual industrial production growth eased from a revised 3.4% reading in May (previously reported: +3.0% year-on-year) to 2.5% in June.
Estonia: Inflation jumps in June
July 6, 2018
Consumer prices rose 0.9% over the previous month in June, accelerating from May’s 0.3% increase.
Estonia: Industrial production growth edges up in May
July 4, 2018
According to Statistics Estonia, annual industrial production growth slightly picked up pace in May, coming in at 3.0% year-on-year, up from April’s 22-month low of 2.2%.
Estonia: Inflation ticks up in May
June 7, 2018
In May, consumer prices increased 0.3% over the previous month, down from April’s 0.4% print.
Estonia: Industrial production growth slows to a near two-year low in April
June 4, 2018
According to Statistics Estonia, annual industrial production growth decelerated in April from the previous month, coming in at a 22-month low of 2.2%, following a revised 6.2% (previously reported: +7.6% year-on-year) expansion in March.
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