Estonia industrial production surges In 2011
31.01.2012, 10:36Industrial production in Estonia climbed 17.9 percent in 2011 compared to the previous year, Statistics Estonia said Wednesday.
The growth of production was mainly influenced by the external demand, though domestic demand also increased during the year, it said.
Production grew rapidly till August 2011, then growth in manufacturing slowed considerably towards the end of the year due to subdued economic activity in the European Union countries. In 2011, production in manufacturing increased 22 percent compared to previous year and the production of energy decreased 3 percent.
Estonia sells more than 70 percent of its manufacturing products in the external market. Export sales of the manufacturing sector grew 36 percent compared to 2010. Domestic sales increased 14 percent.
However, the growth in domestic demand was faster than demand from external market during the last quarter of 2011.
In December, the production of industry decreased 3 percent annually mainly due to the fall in energy production. Compared to November, the seasonally adjusted industrial production fell 1 percent.