Finland’s Industrial Output Improves While Estonia’s Trade Deficit Widens

Finnish Industrial Output Picks Up in June

Industrial production in Finland grew by 4.5% year-on-year in June 2026, accelerating from a 0.5% rise in the previous month. Output growth was strongest in the electricity, gas, heating and air conditioning supply industry, where production increased by 5.4% after falling 0.1% in May, while activity for mining and quarrying recovered sharply, up 4.2% after a 10% drop in the prior month. Manufacturing production (4.4% vs 0.6%) also increased faster, reflecting higher output in the forest industry (8.3% vs 1.9%) and the metal sector (9% vs 2.7%). In contrast, output mainly declined for textile, clothing and leather industry (-7.2% vs 4.4%), printing and reproduction of recorded media (-8.5% vs -10.1%), and furniture (-20.3% vs -8.7%). On a seasonally adjusted monthly basis, industrial activity rose by 2.1%, rebounding from an upwardly revised 1.7% decrease in the preceding period.

Estonia Trade Deficit Widens in June

Estonia’s trade deficit widened to EUR 413 million in June 2026 from EUR 361 million in the same month last year. Exports climbed 15% year-on-year to EUR 1,657 million, boosted by higher sales to both EU countries (+19%) and non-EU countries (+5%). Exports rose for mineral products (+62%), raw materials and products of the chemical industry (+25%), base metals and articles of base metals (+25%), machinery and mechanical appliances (+20%), agricultural products and food preparations (+15%), and transport equipment (+14%). Imports also jumped 15% to EUR 2,070 million, driven by higher purchases from both EU (+14%) and non-EU (+18%) countries. Notable increases were seen in mineral products (+86%), electrical equipment (+29%), wood and articles of wood (+19%), and machinery and mechanical appliances (+19%). In the first half of the year, the country recorded a trade shortfall of EUR 1,920 million, up from EUR 1,908 million in the same period of 2025.

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