Industry is demonstrating signs of recovery, state agency Statistics Estonia says. The total production of industrial enterprises in Estonia rose by 16% YoY in May, the agency reported, while manufacturing saw aneven higher growth. As the largest economic sector and an important driver of economic growth, these figures are significant, the agency says, with analyst…
The high temperatures of June caused Estonians to consume more electricity, increasing their electricity bills considerably. Summertime electricity consumption in Estonia is always lower during summer than in winter as longer days and warmer temperatures take care of heating homes. Still, the recent heatwaves have led Estonians to look for cooling, fans flew off the…
Inflation of close to 4% YoY in June is primarily down to the low reference base in 2020, the year the coronavirus arrived, according to an expert. SEB economic analyst Mihkel Nestor said: “The growth in consumer prices clearly reflects the recovery of the economy from the coronavirus crisis.” The consumer price index (CPI) increased…
As the costs of construction go up, it gives the state’s coffers a significant blow. Mayor of Tallinn Mihhail Kolvart (Center) notes that the public sector could cool the market and delay a few investments. Pootsman, one of the most fascinating residents of Tallinn Zoo, is currently in Slovenia attempting to seduce local tiger girl…
The consumer price index in June increased by 1.2% MoM and by 3.8% YoY, data from Statistics Estonia showed. Goods were 3.1% and services 5% more expensive than in June last year. Viktoria Trasanov, an analyst at Statistics Estonia, said that compared to June 2020, the consumer price index was again influenced the most by…
Airline Nordica suffered a loss of EUR 10.5 million last year due to the reduced opportunity to travel caused by the coronavirus. The company approved the report for the previous financial year at a general meeting on July 6. Last year’s sales revenue was EUR 61 million, almost 42% less than in 2019 which saw…
Revenue of Nordic Aviation Group AS, the Estonian state-owned airline operating under the Nordica brand, declined by 42% YoY, to EUR 61 million in 2020, while the company’s loss grew threefold, to EUR 10.5 million euros. Nearly all of Nordica’s sales revenue was derived from the rental of aircraft and flight crew as regular flights,…