Wage rise eats into company profits
While corporate profits shrunk by 12 percent in first quarter wages rose by eight percent, Statistical Office reported yesterday.
07.06.2016, Marge TubalkainPM
Forecast forces government to tighten belt
Economic forecast tweaked to be more pessimistic than in autumn means that new sources are needed to cover budget deficit for 2018.
06.04.2016, Marge TubalkainPM
Editorial: no need to panic, no cause to frolic
At change of year, we look back and we look ahead. As shown by the traditional Postimees prediction by economists and an overview of 2015, we have no need for panic while a basis to euphoria is absent as well.
Weekend ahead smells like shopping spree brewing
Rapid wage rise and prices long level or even lowered have served to feed consuming boom for another year and in high likelihood the weekend to come features frenzied spending in malls and open air Christmas markets.
17.12.2015, Kadri HansaluPM
Editorial: 34,000 young Estonians busy doing nothing
A glance at the latest statistics seems to say it is all uphill on the labour front. And yet, in National Audit Office yearly report, the arrow this time points to structural labour market problems. Why? Is it justified?
Estonian guys tower among the tall in Europe
Untriumphant at European championships in basketball, Team Estonia was sadly short in eyes of media and coaches. In 2010, the basketball union went as far as to proclaim a find-the-tall campaign. So are male Estonians shorties?
22.09.2015, Nils NiitraPM
SEB: Estonia hit by housing price bubble
Estonians may enjoy consuming boom till entrepreneurs are able to produce ever more effectively, lift wages and keep unemployment rise in check, says SEB chief Allan Parik, who thinks that while sailing on thin ice in this crisis-smelling world, Estonian businessmen stand on secure foundations and have thus far managed to react correctly to changes in economic environment. Domestic consumption remains solid, unemployment is low, and entrepreneurs are showing strong competitiveness on the weak external markets. No near term solution is to be expected t the differences with Russia, and therefore it makes no sense inserting deals with them into business plans.
06.08.2015, Andres ReimerPM
Baltika suffers loss of million in half year
Once a flagship of Estonia's light industry, brand garment maker and seller Baltika was hit so hard in financial crisis at end of last decade that it still staggers to this day. As evidenced by first half year report revealed yesterday, loss amounted to €1.1m.
31.07.2015, Tõnis OjaPM
SEB makes EUR 41 mln operating profit in Estonia in H1
The operating profit of SEB Bank in Estonia in the first six months of this year was 386 million Swedish kronor compared with 353 million kronor in the same period last year; measured in euros operating profit grew 5 percent from to 39 million to 41 million euros.
Andres Tarandi essee: mälestusi Rooma Klubist
Mul on üks mälestus Eesti Rooma Klubist veel värske, see tähendab nädal aega vana. Siis esitles Kaupo Vipp klubile oma raamatu «Globaalpohmelus» teist trükki. Oluline pole ehk niivõrd sadadest Eesti klubidest ühe klubi hooaega lõpetanud istung, ehkki ettekanne «Tööstustsivilisatsiooni kasvu piirid» oli üle hulga aja meil kõige roomaklubilikum, nimelt maailma saatust käsitlev.
07.06.2015, Andres TarandE24
Postimees teeb otseülekande Eesti e-eduloo konverentsist
Neljapäeval, 16. aprillil kell 9-12.15 teeb Postimees otseülekande e-Estonia Showroomis toimuvast üritusest.
15.04.2015, Marge TubalkainPM
The year ahead: economy most impacted by external demand
The main impact on economic indicators in 2015 will be events on global markets, chiefly the persistently low interest rates and oil price drop. Both might serve as catalysts to the economy, but whether a growth boost will be provided, we’ll see in 12 months.
05.01.2015, Tõnis OjaPM
Finmin: Estonia should be happy with economic growth number in current environment
Estonia's economic growth could be stronger but taking into account the economic environment the country should be happy with the present growth, Estonia's new Finance Minister Maris Lauri said.
FinMin forecasts 1.5 pct economic growth for 2014
After a change in the time series of the gross domestic product Estonia's 2014 economic growth could total 1.5 percent, the Ministry of Finance forecasts.
Cbank: Economic growth is supported by consumption, manufacturing
According to a flash estimate published by Statistics Estonia on Tuesday the gross domestic product of Estonia in the third quarter increased by 2.1 percent on year and by 0.2 percent compared to the previous quarter, while annual growth of manufacturing and retail sales accelerated which points to an increase in Estonia's economic activity, the Bank of Estonia reports.
Estonian economy grows 2.1 pct on year in Q3 - preliminary
The gross domestic product of Estonia increased 2.1 percent in the third quarter of 2014 compared to the same quarter of 2013, a flash estimate published by Statistics Estonia on Tuesday shows.
Cbank: Russian sanctions have little impact on Estonian consumer prices so far
The Russian import restrictions have made things harder for Estonian food producers and the impact of this has reached producer prices by now, yet it has had only a limited effect on consumer prices so far, the Bank of Estonia said in its comments on inflation data for October.
Swedbank raises Estonia's 2014 growth forecast to 2 pct
Swedbank has raised its economic growth estimate on Estonia for this year from 0.8 percent to 2 percent.
EU's highest annual house price rise in Q2 recorded in Estonia
House prices remained stable in the euro area and rose by 1.7 percent in the European Union in the second quarter of 2014, with the highest annual rise recorded in Estonia, it appears from data released by Eurostat on Thursday.
September tax receipts up almost 10 pct on year at EUR 453.5 mln
In September 453.5 million euros of tax money was paid into Estonia's state budget, 9.8 percent more than in the same month last year.
Editorial: central bank saving the eurozone economy
European Central Bank led by its president Mario Draghi, saviour of the euro two years back, is keeping up strong stimulation of eurozone’s stagnating economy and demonstrating determination to save it from deflation trap. As decided by ECB council yesterday, the base interest is down to the non-existent percentage of 0.05, and deposit interest 0.2 below zero. Also, they are in for a massive purchasing of assets.
The United States and Estonia - NATO Allies and Global Partners
President Obama met with Estonian President Toomas Hendrik Ilves and Estonian Prime Minister Tavi Roivas in Tallinn, Estonia on September 3. The visit reinforced the close ties between the United States and Estonia, which are rooted in our shared values, ideals, and interests.
04.09.2014, The White House, Office of the Press SecretaryPM
In July industrial production increased
According to Statistics Estonia, in July 2014, the production of industrial enterprises rose 2% compared to July of the previous year. The production increased in manufacturing and energy, while in mining the production decreased.
Near-zero economic growth now predicted
April saw finance ministry lower 2014 GDP growth forecast from 3.6 to 2 percent. According to what they released yesterday, it’s now down to mere 0.5. And, in risk-scenario, 0.3 is the number.
02.09.2014, Kadri HansaluPM
Editorial: economy afloat
In spring, finance ministry set this year’s Estonian real terms GDP growth at 2 percent. Yesterday, they issued a figure more realistic – 0.5 percent. Figuratively speaking, this year our economy keeps afloat – the nostrils, at least, above water. And that’s basically all. Beholding the neighbouring economies, not much hope any would assume the role of an engine to be pulling us along.
In July the growth in retail sales accelerated even more
According to Statistics Estonia, in July 2014 compared to July of the previous year, the retail sales of goods of retail trade enterprises increased 10% at constant prices. Retail sales increased 4% in May and 7% in June compared to the corresponding month of the previous year, whereas in July the retail sales growth accelerated even more.
Luxury driving on road to recovery
In initial six months of the year, 45 luxury cars have been bought in Estonia – just two short of total sales for 2012.
15.08.2014, Kalev AasmäePM
In the 2nd quarter economy increased 2.2%
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 2.2% in the 2nd quarter of 2014 compared to the same quarter of 2013.
The growth in retail sales accelerated to some extent in June
According to Statistics Estonia, in June 2014 compared to June of the previous year, the retail sales of goods of retail trade enterprises increased 7% at constant prices. While in May retail sales increased 4% compared to the same month of the previous year, then in June the retail sales growth accelerated to some extent.
Recession may drag till end of year
In opening quarter of 2014, gross domestic production of Estonia fell 1.9 percent. The trend may well continue throughout the year.
13.05.2014, Tõnis OjaPM
LHV and Nordea lead the pack
Pension funds business blooms. For the second year running, all asset managers are in the black.
12.05.2014, Tõnis OjaE24
Nokia lõi autotehnoloogiatesse investeerimiseks 100 miljoni dollari suuruse fondi
Soome telekomiseadmete tootja Nokia teatas täna, et lõi 100 miljoni dollari suuruse fondi, mis hakkab investeerima autodele internetipõhiseid lahendusi arendavatesse ettevõtetesse, kirjutab Reuters.
The growth in retail sales continued in March
According to Statistics Estonia, in March 2014 compared to March of the previous year, the retail sales of goods of retail trade enterprises increased 5% at constant prices.
Russia risks severe economic crisis
Economy of Russia characterised by slow growth and fast price rise.
22.04.2014, Tõnis OjaPM
Ukraine not reckoned in Estonian economic forecast
Probably, the freshly cut 2014 economic forecast by finance ministry is still too optimistic.
08.04.2014, Liina ValdrePM
Editorial: bursting the hope bubble
Ministry of Finances has cut this year’s economic growth forecast for Estonia. Instead of the 3.6 per cent growth predicted in September, the ministry now expects a growth of 2.0 per cent. Behind the changes, there lay the shrinking expectations regarding export partners.
Editorial: the only constant is change
Those predicting labour market changes and deciding state orders to universities always seem to be preparing for the last war. Whatever the market needed yesterday, it may not need today; smaller yet the chance the need is there tomorrow. Still, this is an important question every spring as those about to graduate are thinking which sector would be their future.
Growth gets stalled
Statistical Office says Estonia’s 2013 final quarter initial GDP growth remained flat, year-on-year. Overall, economy only expanded 0.7 per cent from 2012 to 2013.
12.02.2014, Liina ValdrePM
Editorial: beaten by Latvia?
Yep. In 3rd quarter, our economy grew ten times slower
Economy at standstill
In third quarter, Estonian economy grew a mere 0.4 per cent. Read: standing still, basically. The last time growth was that low was in 1st quarter 2010, at the end of economic crisis. Then, GDP shrunk by three percent.
12.11.2013, Tõnis OjaPM
Estonia stalls in top-lists
Let’s compare Estonia’s business growth strategy for 2014–2020 to that of 2007–2013, let’s compare the goals set, back then, to current reality.
01.11.2013, Mikk SaluPM
Estonia no longer cheap-labour-land
Yesterday, Estonia’s business growth strategy for 2014–2020 was confirmed by the government. This is an underlying document, on the basis of which the state will be supporting enterprises and business. According to economy minister Juhan Parts the state will, among other things, create a national hedge fund.
01.11.2013, Mikk SaluPM
EY lowers Estonia's growth estimate to 1 pct
EY, the global assurance, tax, transaction and advisory services group formerly known as Ernst & Young, on Thursday issued a fresh estimate on the economy of Estonia predicting the country's gross domestic product to grow 1 percent this year.
Estonia's state budget to grow 5 percent next year
The volume of Estonia's state budget will grow by more than 400 million euros or 5 percent in 2014.
Nordea lowers Estonia's 2013 growth forecast to 1.9 pct
In its fresh economic forecast Nordea Pank expects the Estonian economy to grow 1.9 percent this year, compared with a growth rate of 2.3 percent held out by the bank in June.
State damps down expectations
Ministry of Finance cuts economic growth forecasts from three per cent to 1.5; even so, it thinks it not prudent to enhance growth.
03.09.2013, Liina ValdrePM
Swedbank cuts Estonia's growth forecast to 1.9 pct
Swedbank published a fresh economic outlook on Tuesday showing its real GDP growth forecast on Estonia for this year at 1.9 percent, almost half lower than the growth estimate of 3.3 percent published in April.
SEB slashes Estonia's 2013 GDP growth estimate from 3.3 to 1.5 pct
SEB in its fresh economic outlook expects the Estonian economy to grow 1.5 percent this year compared with a forecast of 3.3 percent held out in May.
Editorial: economic growth feeble despite decent exports
In second quarter, Estonia’s gross domestic product put on 1.3 per cent year-on-year. As compared to previous three months, growth was but 0.1 per cent. The frankest assessment dropped from the lips of economics professor Raul Eamets declaring that from April to June our economy essentially did not grow.
Economic growth stalls
A mere 1.3 per cent of economic growth in second quarter confirms fears of analysts being overly optimistic at the beginning of the year.
13.08.2013, Kadri InselbergPM
2012 good for Estonia, slightly stained
In economic development, 2012 was favourable for Estonia in nearly all areas – with growth a little slower than in 2011, however. The 3.2 rise in GDP would be envied by most European countries.
02.08.2013, Argo Ideon