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Estonian timber production falls sharply

31.03.2009

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Estonian industrial production fell again last month, new figures show.

Data released by Statistics Estonia reveal that output levels were down 33 per cent when compared to the same period last year.

This means that industrial production was at a level last seen in 2003.

The manufacture of timber and other wood products recorded one of the sharpest drops year-on-year, a fall of almost 40 per cent.

Statistics Estonia put this fall, and the general trend, down to insufficient demand in both domestic and external markets.

"The fall in sales was about one third both in domestic and external markets," the body revealed.

Although some sectors showed a slight increase in output on January's figures, not one shows growth when compared to February 2008.

Recently, several Estonian politicians have underlined the country's desire to become part of the euro as soon as possible, stating this will help bring economic stability to the country.

This news item is brought to you by KMS Baltics in conjunction with Fest-Forest and EST KINNISVARA. Baltic forestry and property specialists.

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