Tax revenues remained at the same level as in July last year, though on a monthly basis they increased by 8%, to EUR 734.2 million. The state received EUR 102.3 million of income tax in July, which is 6% higher than during the same time last year and 16% higher than in June. As a…
Despite the global coronavirus crisis, Estonian startups generated EUR 364.5 million in turnover in the first six months of 2020, up by 40% YoY, Startup Estonia reported. Among Estonian startups, the biggest turnovers were generated in the six-month period by Bolt (EUR 132.7 million), Pipedrive (EUR 30.6 million), Adcash (EUR 16.5 million), Starship Technologies (EUR…
Larger banks in Estonia offer next to nothing in interest on fixed-term deposit accounts, citing a lack of popularity of such accounts, low interest rates in general, as well as unfavorable conditions on the money markets, though some smaller banks have slightly more appealing rates. Fixed-term deposit volumes have nonetheless risen, the Bank of Estonia…
Consumer spending has returned to the levels it was a year ago, at least with bankcard payments, according to SEB bank, fueled in part by a rise in spending on entertainment and tourism after a hiatus during the peak of the COVID-19 pandemic. However, this does not necessarily mean a return to business as usual…
Shipping line Tallink is holding a farming-themed one-off cruise to the Aland/Ahvenanmaa islands in September. The cruise mirrors earlier such trips the company has organized to the autonomous Finnish islands, as well as to Saaremaa, and coincides with Aland’s Open Farms weekend on September 18-20. “We have been able to offer more trips to Aland…
Exports of goods recovered from the spring coronavirus pandemic and remained at approximately the same level in June as in June 2019, according to the state agency Statistics Estonia, though imports fell by 8%. Wood and metal industries were the main driver for the recovery, the agency said. When taken as a whole for the…
The Consumer Price Index (CPI) in Estonia saw a slight negative change YoY in July, state agency Statistics Estonia reported, driven by decreasing electricity and fuel prices, as well as falling rent prices. CPI fell by 0.9% YoY, but remained unchanged on the previous month. Cheaper electricity and fuel was in particular a factor over…