Consumers bought fewer domestic products during the crisis and paid more attention to prices, the results of a new survey by pollster Kantar Emor showed. The head of the Estonian Food Industry Association Sirje Potisepp said that people had started to save money and this showed in their choice of cheaper food products. Describing customers…
Gross domestic product (GDP) fell by 0.7% YoY in the first quarter of 2020, figures released by state agency Statistics Estonia showed. GDP at current prices stood at EUR 6.5 billion. Value added grew by 2%, Statistics Estonia reported, driven primarily by information and communication and construction. Economic growth was hindered mainly by the energy…
The Port of Tallinn entered into an unsecured loan agreement with SEB Bank for up to EUR 20 million, with a term of five years, to develop Tallinn’s Old City Harbor. The base interest rate of the loan is six-month Euribor, plus an interest margin. The loan can be drawn in two payments, the first…
According to the information released by Statistics Estonia on May 26, in the first quarter of 2020, the total production of Estonian construction businesses in Estonia and abroad increased by 7% YoY. The construction volume increased in Estonia, but decreased in foreign countries. The production value of Estonian construction businesses amounted to EUR 631 million,…
As the crisis deepens, the Estonian government plans on coming to the rescue of the economy and the construction sector by launching major projects for which procurements could be announced right away, Prime Minister Juri Ratas (Center) has said. “I believe that toward the end of the year, the situation in the construction sector may…
Ferry links between Tallinn and the Finnish capital, Helsinki, are partly reopening for work-related journeys. Tourist ferry trips are still off the table, however. All three major shipping lines, Tallink, Viking Line and Eckero, are restarting their routes, which, save for cargo supplies, have been largely dormant since March. The move follows an announcement by…
The Police and Border Guard Board (PPA), Merko Ehitus Eesti and AS GRK Infra signed a contract for the first stage of construction of the infrastructure on Estonia’s southeastern border. According to current estimates, construction of the 23.5-kilometer section of the border will take up to three years and cost nearly EUR 20 million. Construction…