FX.co ★ Estonia Industrial Output Growth Slows to 4-Month Low

In May 2025, Estonia's industrial production increased by 0.9% compared to the same month the previous year. This rate marked a decline from April's upwardly revised 4.3% growth, which had been the highest in nearly three years. The deceleration was primarily due to slower growth in manufacturing output, which rose by 1.4% compared to 4.7% in April. Within manufacturing, the wood and food product sectors saw notable reductions in growth rates, with wood production increasing by 0.6% compared to 3.8% in April, and food products rising by 0.3% against a 6.2% increase the previous month. Conversely, mining and quarrying output continued to experience a downturn, contracting by 19.7% compared to a 2.1% decline in April. On the other hand, production in the electricity, gas, steam, and air-conditioning supply sector accelerated, growing by 6.9% from 0.6% in the previous month. On a month-over-month basis, industrial production decreased by 0.5%, in contrast to an upwardly revised 1.2% gain observed in the preceding period.