Imports of goods rose by 9% YoY, in January, whereas exports fell by 1%, according to new figures from government agency Statistics Estonia. While overall exports declined, there was an increase in the exports of agricultural products and food preparations, and in particular, cereals, Statistics Estonia said. Estonia’s exports of goods amounted to EUR 1.14…
Production decreased by 11% in January compared to the previous year and in most areas of industry, data released by Statistics Estonia showed. Electricity and heat production saw the largest declines. Compared to January 2019, the production of electricity decreased by 59% and the production of heat by 25%. Compared to January 2019, the total…
Average salaries and wages rose in all sectors last year and the average wage was more than 7% higher than in 2018. In 2019, the average monthly gross wage was EUR 1,407, up by 7.4%. Salaries were the highest in Q2 and Q4 2019. The highest average monthly gross salaries are in the information and…
Estonian defense companies are taking part in a trade fair in Abu Dhabi. The Estonian participation has been coordinated by Enterprise Estonia and the Estonian Defense Industry Association, and is significant because several Estonian firms are involved in the development and production of unmanned land and airborne vehicles, as well as other smart solutions. Milrem…
Online commerce in Estonia has grown by over 50% since 2017, according to SEB Bank, with the market share of online merchants increasing to 11% over the same period. Much of the growth comes from relatively recent types of e-commerce, such as ride-sharing and food delivery services, with large, international e-stores seeing the largest increases.…
The exceptionally warm winter this year has had a negative effect on economic growth, says a senior economist from Swedbank. The fall in logging activity and energy generation, which the mild conditions have brought, have not been mitigated by any improvements in construction or agriculture, Liis Elmik, Swedbank senior economist, has said. “While predicting the…
Eesti Energia offered the highest bid at the auction for the land at Tootsi wind farm, organized by the State Forest Management Center (RMK). The final price was EUR 51.5 million. The final price was more than four times higher than the starting price. Four bidders took part in the auction: Eesti Energia AS, OU…