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According to the preliminary data of Statistics Estonia, in the fourth quarter of 2022, the gross domestic product (GDP), which shows how the Estonian economy is doing, declined by 4.1% compared with the same period of 2021. The GDP at current prices was 10 billion euros.

According to Statistics Estonia, in August 2022, Estonia’s exports of goods increased by 20% and imports by 28% compared with August 2021. Imports from Russia fell by 55% and imports from Belarus by 96% year on year.

Helle Bunder, leading analyst at Statistics Estonia, said that the volume of production in manufacturing decreased in 2024 as a whole but there were signs of improvement at the end of the year. “Manufacturing output started to grow in October and November but fell a little in December,” explained Bunder. Last year, production volume declined in two thirds of the 23 manufacturing activities. Looking at the larger industries, there was an increase in output in the manufacture of food products (5.1%), rubber and plastic products (0.7%) and other transport equipment (11.3%), and also in the repair

According to Statistics Estonia, in March, the producer price index of industrial output fell by 0.9% compared to February 2020 and by 3.5% compared to March 2019.

In November 2020, the producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for exports, increased by 1.0% compared to October and decreased by 0.9% compared to November 2019.

According to Statistics Estonia, in February, the producer price index of industrial output fell by 0.7% compared to January 2020 and by 2.6% compared to February 2019.

According to Statistics Estonia, in May 2022, Estonia’s exports of goods increased by 31% and imports by 33% compared to May 2021. Trade grew with most of our main trading partners.

According to Statistics Estonia, in June 2022, Estonia’s exports of goods increased by 26% and imports by 24% compared with June 2021. Compared with the second quarter of last year, exports grew by 21% and imports by 30%. In June and in the second quarter as a whole, trade was primarily boosted by the increased exports and imports of mineral fuels and electricity and wood and articles of wood.

According to Statistics Estonia, in March 2024, exports of goods decreased by 16% and imports by 15% compared with March 2023. Exports of goods amounted to about 1.5 billion and imports to 1.7 billion euros at current prices. The trade deficit was 216 million euros, which is 14 million euros less than in March last year.

Helle Bunder, leading analyst at Statistics Estonia, said that the increased output of manufacturing resulted primarily from the higher volume of production in the manufacture of wood. “In January, the output of the wood industry was up by 8.3% year on year. This was the first time since May 2022 that the output of this industry increased,” explained Bunder. In January, the volume of industrial production increased in more than half of manufacturing activities. Looking at the larger industries, there was an increase in output in the manufacture of wood (8.3%), fabricated metal products (5.9%)