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Estonian Wood Manufacturing Falls Sharply

05 June 2009

Estonian Wood Manufacturing Falls Sharply

Industrial production in Estonia fell by 30 per cent year-on-year in March, new figures have revealed. Data released by Statistics Estonia revealed that only energy production saw an increase in activity over the 12 month period, growing by 7.3 per cent.
The manufacture of wood and related products fell by 35.4 per cent when compared to March 2008, and by 3.6 per cent compared to the preceding month.
It was also revealed that the chemical sector was hardest hit, with output falling by 63.3 per cent over the last year.
According to Statistics Estonia, the latest figures are simply the continuation of a trend which began in November of last year when a drop of 15 per cent was recorded.
Recently, it was revealed that inflation in Estonia stood at two per cent in March when compared to the same period in 2008, a larger fall than had been expected.