Estonia will purchase Poland-made Piorun (Thunderbolt) air defence systems, which have been battle-tested in the Ukraine war. Man-portable Piorun surface-to-air missiles are designed to target low-flying aircraft, helicopters and unmanned aerial vehicles. Under the deal, signed by Mariusz Blaszczak, the Polish defence minister, and his Estonian counterpart Hanno Pevkur on September 7, Poland will supply…
Last month, the producer price index rose by 33.3% YoY, data from Statistics Estonia showed. The increase was driven by energy, manufacturing and food prices. While the index, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, rose by 33.3% YoY, it increased by…
When the new coalition reached an agreement on the electricity market reform, it did not decide how long the measure offering universal electricity service would remain in place, incoming Minister of Economic Affairs Riina Sikkut (SDE) saidon July 18. Sikkut believes the impacts of the measure should be assessed after the fact, and the reform…
Leading commercial banks Swedbank and SEB have not allowed bank transfers to or from Russia for some time, while LHV has been accepting some incoming payments but is planning additional restrictions. No EU sanctions package includes a ban on bank transfers. The initiative is that of the banks whose reasons for doing so are similar.…
Over the past two months, the price of the raw material used to produce rapeseed oil has decreased by nearly EUR 200 per ton, or up to one third. Rapeseed oil prices on store shelves, however, won’t be following suit. According to Talis Raak, head of purchasing at Rimi, the retail price of cooking oil…
Estonia’s two largest retail banks, Swedbank and SEB, are increasing the prices of their in-branch services. The cost for customers completing a bank transfer at a Swedbank or SEB branch will soon rise to EUR 5. When asked if the price increases were a result of the current market situation, Tarmo Sulla, Swedbank’s head of…
This May, Estonia’s exports of goods increased by 31% and imports by 33% YoY, with trade growing with most of Estonia’s primary trading partners, Statistics Estonia said on July 11. Estonia’s goods exports amounted to EUR 1.9 billion and imports to nearly EUR 2.2 billion at current prices. The trade deficit stood at EUR 265…