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Financial News: Estonia Industrial Production Growth Slows In April

Estonia Industrial Production Growth Slows In April

06/02/2022 - 04:44:00 (RTTNews)

(RTTNews) - Estonia's industrial production increased at a softer pace in April, led by growth in manufacturing and electricity production amid a slump in the mining output, data from Statistics Estonia showed on Tuesday.

Industrial production grew a working-day adjusted 3.8 percent year-on-year in April, after a 7.8 percent increase in the previous month.

Manufacturing output increased 3.7 percent annually in April, while production in mining fell 13 percent.

Electricity production grew 9.6 percent.

"In April, production volumes increased in more than a half of manufacturing activities," Helle Bunder, analyst at Statistics Estonia, said.

Manufacture of electronic products, building materials, food products and wood logged gains. Production of fabricated metal products and furniture decreased.

Export sales, which accounted for 66.8 percent of total manufacturing, rose 20.9 percent annually. Domestic sales grew 29 percent.

On a seasonally adjusted basis, industrial production rose 0.8 monthly in April and manufacturing gained 0.9 percent.

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