Estonian Industrial Output Grew First Time in 7 Months
Estonian industrial production rose in September for the first time in seven months as demand for its electronics exports improved.
Production increased 8.3 percent from a year earlier, the biggest increase in 13 months, compared with a revised 2.9 percent drop in August, the Tallinn-based statistics office said on its website today. Output was up 2.1 percent from the previous month on a seasonally adjusted basis.
“The main reason for the growth in production was the low reference base in the manufacture of electronic products,” which slowed down sharply in Sept. 2011, affecting total output, the statistics office said. “Now, the production volume in this branch has recovered, contributing a fifth of the total manufacturing output.”
Electronics output, led by the local plant of Stockholm- based Ericsson AB (ERICB), jumped 69 percent in September from a year earlier, while wood and food processing, the other main industries, still produced less than a year earlier, the office said.
The Ericsson plant, which mainly produces mobile network stations, more than doubled revenue last year to 1.2 billion euros ($1.56 billion), becoming the country’s second-biggest exporter behind fuel-trading company Baltic International Trading OU, according to business newspaper Aeripaeev.
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