The industrial decline in Estonia continues due to the decline in consumer demand. In this respect informs The ERR cites a statement by Karel Lember, an analyst at the country’s Ministry of Economy and Communications.
“In fact, industrial production is currently weak in Europe and Estonia has also been affected. The main reason for this is the decrease in the demand for industrial products. Things are going pretty well in the service industry, but things are even worse in the industry,” said Lember.
According to him, the decline is most pronounced in construction and related sectors. At the same time, this situation has been experienced for a number of reasons, especially the decrease in construction investments, and therefore its effect has begun to spread to other sectors.
He added that there is hope that the peak of the crisis will pass and it will not happen again. At the same time, now the indicators of the industry are much worse than last year, but the decline was not so strong.
4 May ERR, referring to the data of the Economic Research Institute, reportedThat food prices in Estonia rose sharply in April 2023. Vegetables, sugar, meat and dairy products increased the most.