ESTONIA: Industrial output soars in March
30.04.2010, 14:47Estonia's industrial production rose by 11.6% workday adjusted in March compared to the same month last year, the statistical office Eesti Statistika reported.
The main reason for the largest yearly hike in output since 2006 was the annual increase by one fifth in energy production. The export-oriented manufacturing industry, the output of which has started to grow since the end of last year, contributed to the overall increase as well.
The manufacturing of metal products, one of the laggards among the manufacturing branches so far, boosted its output in March by 26% compared to February, seasonally adjusted. The manufacturing of chemicals, plastics, electronic devices and beverages also added production in monthly comparison.
The electronics industry's production in March 2010 exceeded its output in March 2009 by 89.3%, seasonally adjusted, while the production of wood and wood products increased by 21.4% y-o-y.
Although some of the impressive hike in the output of industry sector is attributable to the low benchmark of last year's March, the overall trend in the sector seems to be upwards. In January, the industrial output rose by 0.3% y-o-y, and in February by 4.8% y-o-y.