According to Statistics Estonia, in the second quarter of 2018 the total profit of the business sector was EUR 726 million, down by 12% YoY.
Compared to the second quarter of 2017 the total profit decreased in most economic activities. Trade, agriculture, forestry and fishing, and information and communication enterprises contributed the most to the total profit of the business sector. The growth in the sector’s profit was negatively affected mainly by enterprises specializing in administrative and support service activities and transportation and storage enterprises.
Enterprises sold goods and services for EUR 15.3 billion in the second quarter, up by 10% YoY. The biggest year-on-year increase occurred in the turnover of agriculture, forestry and fishing enterprises. The turnover of trade and manufacturing enterprises, which have the biggest share in the total turnover of the business sector, increased by 10% and 6% respectively.
Compared to last year, the total expenditure of enterprises in the second quarter increased by 11%, including a 7% increase in labor costs. The number of persons employed and the number of hours worked stayed on the level of the previous year. Labor productivity of the business sector on the basis of value added amounted to an average of EUR 5,900 per quarter per person employed, up by 1%.
Businesses invested EUR 517 million, down by 20% YoY. The investments were made mostly in machinery and equipment as well as in buildings. The main investors were manufacturing, energy, and agriculture, forestry and fishing businesses, which accounted for nearly half of the total. Compared to the second quarter of 2017 investments in buildings as well as in machinery and equipment increased. Other investments were down as well. (ERR/Business World Magazine)
Your advertisement under each post on this site. DETAILS