Foreign trade in goods was up in December but down in 2024 as a whole
According to Statistics Estonia, in 2024, exports of goods decreased by 4% and imports by 2% compared with 2023. Exports of goods amounted to 17.4 billion and imports to 20.7 billion euros at current prices. The trade deficit was 3.3 billion euros, which is 275 million euros higher than in 2023. In December 2024, exports of goods increased by 2% and imports by 9% compared with December 2023.
Food prices increased in January, clothing prices decreased
According to Statistics Estonia, in January 2025, the consumer price index increased by 1.5% compared with December 2024 and by 3.9% compared with January 2024. Goods were 0.1% and services 10.6% more expensive than in January last year.
Volume of industrial production decreased by 4% in 2024
According to Statistics Estonia, in 2024, the total production of industrial enterprises decreased by 4% at constant prices compared with the year before. Among the three industrial sectors, output decreased by 4.4% in manufacturing, remained the same in electricity production and increased by 2.9% in mining.
Retail trade volume down by 3% last year
According to the preliminary data of Statistics Estonia, the total turnover of retail trade enterprises in 2024 was €10.4 billion. Compared with 2023, the volume of retail trade turnover decreased by 3%.
GDP flash estimate: economy contracted by 0.1% in Q4
According to Statistics Estonia's preliminary estimate, the economy remained almost at the same level in the fourth quarter of 2024. Gross domestic product (GDP) fell by 0.1% compared with the fourth quarter of 2023.
Construction prices rose by 1.6% in 2024
According to Statistics Estonia, in 2024, the construction price index increased by 1.6% compared with the average of 2023. In the fourth quarter of 2024, the construction price index increased by 0.4% compared with the third quarter of last year and by 1.3% compared with the fourth quarter of 2023.