Estonia: retail turnover up in June 2019

According to information released by Statistics Estonia, the turnover of retail trade enterprises in June increased by 3% YoY at constant prices, to EUR 635 million. The turnover of stores selling manufactured goods increased by 4%. Turnover increased in five and decreased in two economic activities. Turnover increased the most in stores selling textiles, clothing…

Estonia: Regional Jet revenue up in 2018

Estonian carrier Regional Jet, which is owned by Estonian state-owned airline Nordica and LOT Polish Airlines, achieved a better than expected zero result for 2018, with turnover increasing by 80% YoY, to EUR 68 million. “I am really impressed with how our organization has developed all these new businesses in such a short period of…

Estonia: inflation at 2.4% in June 2019

Inflation was 2.4% YoY to June 2019, Statistics Estonia reports. Services saw a higher Consumer Price Index (CPI) rise than goods, 3.5%, compared with 1.8%. Regulated prices of goods and services rose by 0.8% and non-regulated prices by 2.9%. CPI rises were affected the most by food and non-alcoholic beverages, which comprised nearly 30% of…

Estonia: LHV to buy Danske loan portfolio

Estonian bank LHV is set to acquire Danske Bank’s private customer loan portfolio, for around EUR 410 million. In February, Danske was ordered to close its doors by the Finanical Supervisory Authority (FSA), ending months of speculation following revelations that as much as EUR 200 billion in potentially illicit funds had passed through the bank…

Estonia: economy growing in Q1 2019

According to information released by Statistics Estonia, GDP grew by 4.5% YoY in the first quarter of 2019. The seasonally and working day adjusted GDP grew by 0.5% compared with the previous quarter and by 4.6% compared with the first quarter of 2018. Economic growth was driven by manufacturing. The last time that manufacturing had…

Estonia: construction volumes up in Q1 2019

According to the information released by Statistics Estonia, in the first quarter of 2019, the total production of Estonian construction businesses in Estonia and foreign countries increased by 2% YoY. Overall construction volumes increased due to work done abroad, as construction volumes on the Estonian market decreased. In the first quarter of 2019, the production…

Estonia: unemployment rate down in Q1 2019

According to the information published by Statistics Estonia on May 15, in the first quarter of 2019, the labor force participation rate in Estonia was 70.8%, the employment rate 67.5% and the unemployment rate 4.7%. While the labor force participation rate and employment rate remained steady, the unemployment rate decreased by 2.1% YoY. In the…

Estonia: Operail profit up in Q1 2019

According to the consolidated interim report, the first quarter of 2019 has brought the international logistics and transport company AS Operail a net profit of EUR 2.6 million, which is twice as much as their net profit in the first quarter of 2018. Operail CEO Raul Toomsalu said that the main source of their profit…