Estonia's industrial production increased by 7.9 percent from a year earlier in November 2018, following a 1.7 percent rise in the previous month. It was the biggest gain in industrial activity since June 2017, as production expanded at a faster pace for both manufacturing (8.1 percent vs 2.3 percent in October) and electricity, steam and hot water supply (11.9 percent vs 4.1 percent). In addition, mining output fell less than in a month earlier (-3.7 percent vs -9 percent). On a monthly basis, industrial production went up by 4.6 percent, compared to a 0.8 percent rise in October. Industrial Production in Estonia averaged 5.95 percent from 2001 until 2018, 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.