Estonia's industrial production rose 4.7 percent from a year earlier in January 2019, easing from a downwardly revised 5.5 percent growth in the previous month, as manufacturing expanded at a softer pace (3.7 percent vs 5.1 percent in December) and mining output continued to fall (-1.2 percent vs -7.3 percent). Meanwhile, electricity, steam and hot water supply grew faster (14.6 percent vs 13.8 percent). On a monthly basis, industrial production increased 0.9 percent in January, compared to an upwardly revised 0.3 percent fall in December. Industrial Production in Estonia averaged 5.93 percent from 2001 until 2019, reaching an all time high of 36.80 percent in October of 2010 and a record low of -31.80 percent in April of 2009.
Industrial Production in Estonia is expected to be 2.20 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.