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| Estonian timber production drops |
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2008/12/8
Sawn timber production in Estonia fell by 24 per cent in October when compared to the same time last year, new figures show.
Data released by Statistics Estonia reveal that industrial production as a whole fell by 11 per cent over the same period.
The body put this down to decreasing market demand, something what had a particular impact on wood manufacturing.
Seasonally adjusted figures show that the production of wood and wood products fell by 4.6 per cent between September and October.
The most successful sectors were those that primarily rely on exports, such as metal and chemical products as well as electrical machinery.
All three of these areas recorded growth when compared to October 2007.
Last week, Andres Sutt, deputy governor of Eesti Pank, told the Estonian Forest Industries Association that joining the euro will help the nation achieve greater stability.
It will also help the country's economy grow, he added.
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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