FX.co ★ Estonian Industrial Output Declines at a Slower Pace

In October 2025, Estonia's industrial production experienced a year-on-year reduction of 1.1%, improving from September's revised drop of 1.7%. This reduction represented the second consecutive month of decline since January. The mining and quarrying sector, however, saw an output increase to 5.4% from 4.8% in September, and the electricity, gas, steam, and air-conditioning supply sector showed a recovery with a growth of 0.3% after a previous decrease of 18.5%. Conversely, the manufacturing sector continued its downturn, with output declining by 1.4% compared to a 0.7% fall in September. This decline was substantially influenced by significant reductions in the manufacture of grain mill products, starches, and starch products, which fell by 7.4% compared to 2.9% previously, as well as in the production of chemical goods, which decreased by 6.7% following a 3.5% increase. The electrical equipment sector also suffered a decrease of 6.8%, following a 2.4% increase in the previous month. On a month-to-month basis, industrial activity increased by 2.4% in October, recovering from a previously revised 1.3% decrease in September.