The decrease in construction permits issued in Estonia indicates that a significant slowdown is to be expected in the construction market, SEB analyst Mihkel Nestor said. Nestor noted that the current growth in construction volumes was no surprise, as the interest in purchasing and developing new housing was currently very high. “First, the situation on…
According to information released by Statistics Estonia on November 20, last month the producer price index (PPI) of industrial output increased by 0.3% MoM and by 2.8% YoY. Compared to the previous month, the PPI in October was affected more than average by a price increase in the manufacture of electronic equipment and in mining…
The Estonian Competition Authority on November 19 rejected a complaint by Eleon Group, an energy company owned by Andres and Oleg Sonajalg, which contested the authority’s decision to allow the merger of renewable energy producer Nelja Energia and the Estonian state-owned energy group Eesti Energia. The Estonian Competition Authority said that it had not violated…
Following an announcement that it was shutting down three regular routes from Tallinn, Estonian national airline Nordic Aviation Group AS, operating under the Nordica brand, announced that it would be cutting eight routes from the Estonian capital next summer. While Nordica flew to 21 destinations this summer, beginning next summer, the flag-carrier airline will operate…
According to Taavi Veskimagi, CEO of the Estonian state-owned transmission system operator (TSO) Elering, the current low price of electricity does not allow for investments. Veskimagi said that the current quarter’s price jump to more than EUR 40 per megawatt-hour was rather an anomaly, and electricity prices were forecast to return to EUR 40 or…
According to Statistics Estonia, in September exports and imports of goods increased by 11% each compared to September of the previous year. An increase in the trade of mineral products such fuel additives and motor spirits contributed the most. Exports from Estonia amounted to EUR 1.2 billion, and imports to EUR 1.3 billion at current…
Inflation this year will exceed 3%, but is expected to slow next year as a result of slowing energy price increases as well as the fact that excise duties on alcohol likely won’t increase further, senior analyst at Swedbank, Liis Elmik said. “Energy has been the biggest contributor to rising prices. The price of petrol…