Estonian industrial production increased in September at the fastest annual pace in at least a decade, as exports improved and domestic demand rose.
Production increased 31.1 percent from a year earlier, the most since records began in 2000, compared with a revised 21.7 percent the previous month, the Tallinn-based statistics office said today on its website. Output rose 3.6 percent from the previous month, on a seasonally adjusted basis.
Industrial output has improved following the biggest plunge in the 27-member European Union last year as demand for Estonia goods increases in the country’s key Nordic trading partners, Finland and Sweden. An export-led recovery will help Estonia’s economy expand 2.5 percent this year and 4.2 percent in 2011, the central bank forecast last month.
Export sales of manufactured goods jumped 54 percent from a year earlier, compared with a 41 percent increase in August. Domestic sales increased 7 percent, compared with a 3 percent rise the previous month, the office said.
Ott Ummelas
Comments