Growth in Electronics Exports Slows Dramatically ({{commentsTotal}})

Ericsson's factory in Tallinn is playing a major part in Estonia's exports. Source: (Postimees/Scanpix)
Business
Business

After two years of fast-paced growth, exports in the electronics sector stagnated last year, according to a fresh analysis from the Ministry of Economic Affairs.

In 2012, production in the sector remained on par with the previous year, while sales and exports grew 4 percent.

By contrast, annual sales and exports had doubled in 2011.

Production of electronics and electrical devices is strongly geared toward the external market, and most major producers are established on foreign capital.

"The worsening of the economic climate on foreign markets in 2012 negatively affected the sector's development and output growth was significantly slowed down," the analysis said.

The sector consists of two main branches: optical, electronic and computer devices, which are mainly produced by Ericsson, Enics and Scanfil; and computers, whose biggest producer is Ordi.

In contrast to the first branch, the latter is aimed at the domestic market.

Other major electronics producers in Estonia are ABB, Ensto Ensek, Konesko and Draka Keila Cables.



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