Estonia’s economic growth exceeded 5% in the first quarter, while analysts said that double digits could be seen in the second. “Because we saw strong growth and GDP climb to a high level in the first quarter, this would affect the remaining three quarters, with annual growth forecast as noteworthy,” Tonu Mertsina, chief economist for…
Nordica subsidiary Regional Jet reported a loss of close to EUR 6.5 million in 2020, a yearm which blighted the aviation sector as a whole with the arrival of the pandemic, as Regional Jet reported a 34% fall in turnover over the same period. Jan Palmer, board chair and CEO, said the timing of the…
According to a recent analysis commissioned by Startup Estonia and the Estonian e-Residency program, almost one third of Estonian start-ups have been founded by e-residents. Most of those startups focus on business software development and FinTech solutions. Head of Startup Estonia, Eve Peeterson, believes that Estonia attracts international talent primarily thanks to its innovative digital…
Imports grew by 49% YoY in the second quarter of 2021, while exports grew by almost as much, by 41%, the state agency Statistics Estonia said. The year-on-year figure for June alone was 45% (imports) and 26% (exports), while overall imports of EUR 1.7 billion was a record figure. Evelin Puura, lead analyst at Statistics…
The total production of industrial enterprises rose by 11% YoY in June, Statistics Estonia reported, the third month in a row to see a year-on-year increase. Production increased in all three major industrial sectors during that time: in mining (by 19%), in energy (by 14%) and in manufacturing (by 10%). Helle Bunder, one of the…
The number of people staying in hotels, hostels, guest houses and other accommodation businesses in June was around a third higher than the figure for June 2020, state agency Statistics Estonia reporeds. However, the sector still has a long way to go before pre-pandemic levels are reached, and room occupancy stood at just over 30%,…
The Ministry of Economic Affairs and Communications says it plans to buy four of five ferries, which currently service Estonia’s two largest islands, Hiiumaa, and, via Muhu, Saaremaa. The move would not quite represent a full nationalization in that the company that operates the vessels, TS Laevad, is a subsidiary of the Port of Tallinn…