Estonia's industrial production rose 2.4 percent from a year earlier in March 2019, easing from a downwardly revised 4.0 percent growth in the previous month. It was the weakest growth in industrial output since October last year, as mining production fell strongly (-14.7 percent vs 7.5 percent in February) and output of electricity, steam and hot water supply dropped faster (-25.2 percent vs -14.9 percent). On the other hand, manufacturing output expanded faster (7.7 percent vs 6.7 percent), boosted by increases in the manufacture of food products, computers and fabricated metal products. On a monthly basis, industrial production went up 0.6 percent in March, compared to an upwardly revised 1.6 percent drop in February. Industrial Production in Estonia averaged 5.72 percent from 2001 until 2019, reaching an all time high of 36.80 percent in October of 2010 and a record low of -31.70 percent in April of 2009.
Industrial Production in Estonia is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Estonia to stand at 3.20 in 12 months time. In the long-term, the Estonia Industrial Production is projected to trend around 2.40 percent in 2020, according to our econometric models.