Estonia's industrial production increased 1.2 percent from a year earlier in May 2019, reversing from a downwardly revised 0.3 percent fall in the previous month. Manufacturing output expanded faster (5.0 percent vs 3.6 percent in April), boosted by increases in the manufacture of food products, computers and electronic products and fabricated metal products. Meantime, both of mining production (-19.6 percent vs -16.1 percent) and electricity, steam and hot water supply (-25.2 percent vs -23.3 percent) continued to decline. On a monthly basis, industrial production went up 0.3 percent in May, compared to a downwardly revised 1.1 percent drop in April. Industrial Production in Estonia averaged 5.65 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 3.00 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 2.70 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.