Estonia Industrial Output Accelerates Further in August

Industrial production in Estonia rose by 4.5% year-on-year in August 2026, accelerating from a downwardly revised 2.2% increase in the previous month and marking the highest growth since January 2026. The acceleration was driven by stronger output in mining and quarrying (25.3% vs 13.5% in July), while manufacturing growth edged up (1.2% vs 1.0%). Within manufacturing, notable gains were recorded in the manufacture of coke and refined petroleum products (20.4%), electrical equipment (12.2%), fabricated metal products (6.9%), vegetable and animal oils and fats (16.7%) and motor vehicles, trailers and semi-trailers (19.1%). Electricity, gas, steam and air-conditioning supply accelerated sharply to 56.9%, from 16.0% in July. On a monthly basis, industrial activity grew by 4.2% in August, accelerating from a 0.9% increase in the previous month.

Industrial production in Estonia increased by 2.3% year-on-year in July 2026, recovering from a 4.6% decline in the previous month and marking its highest level since January. Output rebounded in manufacturing (1.1% vs -5.3% in June), supported by gains in the manufacture of food (1.5%), beverages (5.0%), wearing apparel (11.4%), leather and related products (41.7%), wood and wood products (10.8%), basic pharmaceutical products and pharmaceutical preparations (162.3%), other non-metallic mineral products (8.9%), computer, electronic and optical products (3.0%), machinery and equipment n.e.c. (30.3%), and furniture (3.2%). Electricity, gas, steam, and air-conditioning supply also recovered (16.0% vs -12.6%). Meanwhile, mining and quarrying growth slowed (13.5% vs 26.7%). On a monthly basis, industrial activity grew by 0.9% in July, rebounding from a 2.3% decline in the previous month.

Industrial production in Estonia fell 4.6% year-on-year in June 2026, marking a fifth consecutive month of contraction and the steepest decline since March 2024, with the pace of the downturn deepening from a 3.0% fall in May. The weakness was driven by a sharper fall in manufacturing (-5.3% vs -3.5%), alongside continued declines in electricity, gas, steam and air conditioning supply (-12.6% vs -22.9%). Within manufacturing, notable declines were recorded in repair and installation of machinery and equipment (-44.1%), computers, electronic and optical products (-13.2%), furniture (-19.5%), other transport equipment (-14.2%), and fish processing (-19.8%). In contrast, mining and quarrying remained a bright spot, expanding 26.7%, although growth slowed from 39.9% in May. On a monthly basis, industrial output declined 2.3%, following a revised 0.3% fall in May.