Estonia’s industrial output declines by 1% y/y in September.

By bne IntelliNews October 31, 2013

Estonia’s working-day adjusted industrial output declined by 0.7% y/y in September 2013, with manufacturing output shrinking by 2.3% y/y, energy production gaining 11% y/y, and mining going up by 5.6% y/y, according to the report by Statistics Estonia. In August, the growth rate of the industrial output weakened to 1% y/y as compared to 2%-6% growth range seen in Jan-July 2013.

Lower y/y output was seen in only a third of the branches of manufacturing. At the same time, output of electronic products as usual contributed the most to the overall dynamics, diving by 16.3% y/y in September. Also chemicals and products thereof declined by 6.9% y/y, while food products increased by 6.9% y/y.

In September, 70% of the whole manufacturing production accounted for exports. Unadjusted data shows that manufacturing exports sales were down by 3% y/y. At the same time domestic sales went up by 3% y/y.

Since May faster growth of industrial output and manufacturing sales was a positive signal of external demand that could be improving after deteriorating since the end of 2012. However, in August and September’s the trend seems to have changed.

Although absorbed partly by domestic demand, weak external demand already resulted in weaker CB’s projections of fixed capital investment. It is expected at 2% in 2013, while GDP growth forecast for 2013 was cut from previous 3% to 2%.

In 2012 overall, industrial output remained flat y/y vs. 18% y/y growth seen in 2011.

Related Articles

Lithuania calls for further committments from Gazprom to end EU anti-trust case

Gazprom’s commitments to lessen the impact of its dominant position as a supplier of gas to Lithuania and other CEE countries are not sufficient and the European Commission should ensure they are ... more

Russia offers Latvian port a slice of the Nord Stream pie

The Latvian port of Ventspils has been asked to store and handle delivery of pipes for Nord Stream 2, the controversial Russian gas pipeline project, the chairman of the port said on April 20. The ... more

Latvia opens its gas market as it seizes control from Russia

The Latvian gas market opened up to liberalisation on April 3 following entry into force of a number of legal changes. Riga has fought hard to end control of the gas transmission and storage ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss