Estonia Industrial Production Slumps on Year in December
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Estonia's industrial production continued to decline sharply at the end of the year, data from Tallinn-based Statistics Estonia (SE) showed on Monday.
Industrial production contracted 11.6% year-on-year in December, slightly slower than the 12.2% rise in the previous month.
Among the main sectors, mining and quarrying output fell the most by 14.7%. Manufacturing production also registered a double-digit negative growth of 11.5%, and output produced in the utilities sector plunged by 13.1%. In energy production, the volume of electricity production decreased by 16.2% and the production of heat by 10.7%.
On a seasonally adjusted basis, industrial production recovered 2.1% monthly in December, reversing a 3.8% drop in November. It was the first increase in four months.
In 2022, total industrial production declined 1.9% compared to 2021, largely led by a 2.7% fall in manufacturing output
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