Industrial Production Growth Continues To Cool

Photo: Postimees/Scanpix
7/29/2011 12:23 PM
Category: Economy

The nation's industrial production was up by 24 percent in June compared to the same month last year, a significant rise, but also a continuation of the cooling trend seen since last month, new figures from Statistics Estonia show.

While at the beginning of 2011 year-on-year growth levels were at 30 percent, by May they had fallen to 26 percent and are now lower still.

The main driver for production growth continues to be increased export demand, with 70 percent of the nation's manufacturing now going to external markets.

A dramatic rise in the manufacture of electronics products, which increased by 199 percent over the year, has had the most influence on the figures.

In a month-to-month comparison, industrial production figures rose by 1.5 percent between May and June. While manufacturing stayed almost at the same level, mining was up 20.7 percent and energy production 2.7 percent.


Steve Roman

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