Industrial production in Estonia falls by 4% in 2024
Text Ingel Kink Photo Visit Estonia / Villu Valm
In 2024, industrial production in Estonia decreased by 4 per cent at constant prices, according to data released by Statistics Estonia. Manufacturing experienced a decline of 4.4 per cent, while mining saw a 2.9 per cent increase. Electricity production remained stable.
Helle Bunder, a leading analyst at Statistics Estonia, noted, “Manufacturing output started to grow in October and November but fell a little in December.” Despite an overall decrease, certain manufacturing sectors showed positive results, including food production (up 5.1 per cent), rubber and plastic products (up 0.7 per cent), and other transport equipment (up 11.3 per cent).
The wood, electrical equipment, fabricated metal products, and computer electronics industries saw significant declines, with wood manufacturing down by 10.7 per cent and electrical equipment falling by 4.7 per cent. Overall, 67.4 per cent of manufacturing output was sold internationally, but both export and domestic sales experienced reductions.
December’s industrial production decreased by 4.2 per cent, with manufacturing output falling by 2.9 per cent compared to the same month in 2023.
To learn more about this and similar topics2024 industrial input Electricity Production Estonia Estonia export sales Estonia mining growth Industrial Production Estonia manufacturing decline Estonia Statistics Estonia report
