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HICP flash estimate: prices up by 0.5% in July

GDP flash estimate: the economy grew by 2.1% in Q2

Estonians’ assessment of the economy has improved, while confidence in the construction and trade sectors somewhat declined

In May, there were 5% more accommodated tourists than the year before

HICP flash estimate: prices down by 0.4% in June

In June, the confidence of industrial enterprises declined, while assessments in other sectors and among consumers improved slightly

Today, on 25 June, Statistics Estonia published the June results of the surveys that measure the economic confidence of enterprises and consumers.

The number of international students decreased last year but their tax contribution increased

According to Statistics Estonia, in the academic year 2024/25, international students studying and working in Estonia contributed 16.6 million euros in taxes. In the same period, international graduates of the academic year 2023/24 contributed 7.5 million euros as labour taxes in Estonia. Throughout the analysed period (2017–2025), international students and graduates have contributed over 317 million euros in taxes in Estonia.

The share of innovative enterprises in Estonia is growing

According to Statistics Estonia, 65% of Estonian enterprises have introduced product or process innovations. The share of innovative enterprises is the highest in financial and insurance activities and in information and communication.

Latest business and consumer survey results published by Statistics Estonia

On 26 May, Statistics Estonia published for the first time the results of the surveys that measure consumers’ and enterprises’ economic confidence. The data are published in the statistical database.

In the 2nd quarter, year-over-year growth in average wages and salaries accelerated

According to Statistics Estonia, in the 2nd quarter of 2017, the average monthly gross wages and salaries were 1,242 euros, and increased 6.8% compared to the 2nd quarter of 2016. The year-over-year growth in wages and salaries, which had decelerated for four successive quarters, accelerated again and was 1.1 percentage points faster than in the previous quarter.

The profit of the business sector increased in the 2nd quarter

According to Statistics Estonia, in the 2nd quarter of 2017, the total profit of the business sector was 827 million euros, which was 22% more than in the same period the year before.

Construction volumes increased in the 2nd quarter

According to Statistics Estonia, in the 2nd quarter of 2017 compared to the same quarter of the previous year, the total production of Estonian construction enterprises in Estonia and foreign countries increased 18%. Taking into account only the Estonian construction market, the construction volumes increased 25%.

The industrial producer price index increased in July

According to Statistics Estonia, in July 2017, the producer price index of industrial output changed by 0.4% compared to June and by 4.1% compared to July 2016.

Labour force participation rate at highest for 20 years

According to Statistics Estonia, in the 2nd quarter of 2017, the unemployment rate was 7%, the employment rate 66.9% and the labour force participation rate 72%. Compared to the 2nd quarter of 2016, the employment rate remained on the same level and the labour force participation rate reached its highest level for 20 years.

Both in June and throughout the 2nd quarter, trade increased

According to Statistics Estonia, in June 2017, the exports of goods increased by 11% and imports by 6% compared to June 2016. In the second quarter, compared to the 2nd quarter of the previous year, exports grew 8% and imports 7%.

In July, the annual change of the consumer price index was affected the most by food

According to Statistics Estonia, the change of the consumer price index in July 2017 was 0.7% compared to June 2017 and 3.6% compared to July of the previous year.

In June, more tourists stayed in accommodation establishments than a year ago

According to Statistics Estonia, 372,000 domestic and foreign tourists stayed in Estonian accommodation establishments in June 2017, which is 8% more than in June 2016.

In June, the volume of industrial production was greater than a year ago

According to Statistics Estonia, in June 2017, the production of industrial enterprises increased 15% compared to June 2016. Production increased in the energy sector and mining and quarrying as well as in manufacturing.

In June, the turnover growth of retail trade enterprises accelerated

According to Statistics Estonia, in June 2017, the turnover of retail trade enterprises increased 5% at constant prices compared to June 2016. While in May turnover increased 1% compared to the same month of the previous year, in June growth accelerated.

A moderate increase in the construction price index continued

According to Statistics Estonia, the change of the construction price index in the 2nd quarter of 2017 was 0.2% compared to the previous quarter and 1.5% compared to the 2nd quarter of 2016.

The industrial producer price index fell in June

According to Statistics Estonia, in June 2017, the producer price index of industrial output changed by -0.3% compared to May and by 3.3% compared to June 2016.