FX.co ★ Estonia Industrial Output Declines Further in April

Estonia’s industrial production declined by 3.8% year-on-year in April 2026, following a revised 2.9% decrease in March, reaching its lowest level since August 2024. Output in electricity, gas, steam, and air conditioning supply continued to fall, although the pace of decline slowed (-14.9% vs. -19.5% in March). Manufacturing output remained in contraction and weakened further (-3.2% vs. -0.9% in March), dragged down in particular by computers and peripheral equipment (-99.0%), coke and refined petroleum products (-27.3%), dairy products (-12.1%), other food products (-11.4%), prepared animal feeds (-16.0%), and overall food products (-8.0%). By contrast, mining and quarrying showed strong growth, with output accelerating sharply (14.3% vs. 5.9% in March). On a monthly basis, industrial production rose by 1.2%, rebounding from a 2.5% decline in the previous month.