Estonian industrial output plummets

  • 2008-12-02
  • TBT Staff in cooperation with BNS
TALLINN 's The Estonian nationalstatistics agency has reported that the country's industrial output fell by astaggering 11 percent year-on-year in October.

Industrial output fell by 5 percent when compared to the previous month.

In manufacturing, production fell by 10 percent compared with the previousyear. The main reason causing the decline in production was poor market demand.The decrease in manufacturing output was mainly the result of a drop in theproduction of food, wood and building materials.

The largest fall, by about one-third, was recorded in the production ofbuilding materials, which is directly connected to the decline in the domesticconstruction market, Statistics Estonia said.

About one-third fewer prefabricated structural components for civilengineering and 36 percent less concrete mix was produced.

The price increase in the food industry has decelerated in recent months.Compared to the 20 percent growth rate at the beginning of the year, in Octoberthe price increase of food products fell below 10 percent for the first time.

Just like in previous months, in October output increased primarily in theexport oriented branches of the industry, such as in the manufacture of metalproducts, chemical products and electrical machinery.

The share of exports in these branches was 61 percent, 83 percent and 82percent, respectively.