FX.co ★ Estonia Industrial Output Growth Hits 6-Month High

Industrial production in Estonia rose by 2.3% year-on-year in July 2026, rebounding from a 4.6% decline in June and reaching its highest level since January. Manufacturing output returned to growth (up 1.1% versus a 5.3% drop in June), driven by notable increases in the production of food (1.5%), beverages (5.0%), wearing apparel (11.4%), leather and related products (41.7%), wood and wood products (10.8%), basic pharmaceutical products and pharmaceutical preparations (162.3%), other non-metallic mineral products (8.9%), computer, electronic and optical products (3.0%), machinery and equipment n.e.c. (30.3%), and furniture (3.2%).

Electricity, gas, steam, and air-conditioning supply also recovered, advancing 16.0% after a 12.6% contraction in the previous month. In contrast, growth in mining and quarrying moderated to 13.5% from 26.7% in June. On a seasonally adjusted monthly basis, overall industrial output increased by 0.9% in July, reversing a 2.3% decline recorded in June.