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Electricity production increased last year
According to Statistics Estonia, in 2017, the production of electricity totalled 13 terawatt-hours, which is 8% more than in the previous year. Electricity production from renewable sources increased 13% compared to 2016.
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Economic growth accelerated in the 2nd quarter
According to Statistics Estonia, the gross domestic product (GDP) of Estonia grew by 3.7% in the 2nd quarter of 2018 compared to the same period of the previous year.
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In July, the volume of industrial production was greater than a year ago
According to Statistics Estonia, in July 2018, the production of industrial enterprises increased by 4% compared to July 2017. Production increased in manufacturing and energy, but decreased in mining.
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In July, the turnover of retail trade enterprises increased
According to Statistics Estonia, in July 2018, compared to July of the previous year, the turnover of retail trade enterprises increased 2% at constant prices.
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The profit of the business sector decreased in the 2nd quarter
According to Statistics Estonia, in the 2nd quarter of 2018, the total profit of the business sector was 726 million euros, which is 12% less than in the same period the year before.
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In the 2nd quarter, the growth of average wages and salaries slowed down
According to Statistics Estonia, in the 2nd quarter of 2018, the average monthly gross wages and salaries were 1,321 euros, having increased by 6.4% compared to the 2nd quarter of 2017. The year-on-year growth in average monthly gross wages and salaries was 1.3 percentage points slower than in the previous quarter.
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Construction volume increased in the 2nd quarter
According to Statistics Estonia, in the 2nd quarter of 2018 compared to the same quarter of the previous year, the total production of Estonian construction enterprises in Estonia and foreign countries increased by 20%. Taking into account only Estonian construction market, construction volume increased by 22%.
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The industrial producer price index continued to rise in July
According to Statistics Estonia, in July 2018, the producer price index of industrial output changed by 0.7% compared to June and by 3.2% compared to July 2017.
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Unemployment decreased rapidly
According to Statistics Estonia, in the 2nd quarter of 2018, the unemployment rate was 5.1%, the employment rate 68.2% and the labour force participation rate 71.9%. The unemployment rate was the lowest in a decade.
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In June, trade increased
According to Statistics Estonia, in June 2018, the exports of goods increased by 17% and imports by 18% compared to June 2017. The growth in trade was affected the most by increased trade in mineral products. In the first half-year, compared to the same period of the previous year, the exports of goods increased by 10% and imports by 8%.
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Consumer price index affected the most by housing
According to Statistics Estonia, the change of the consumer price index in July 2018 was 0.1% compared to June 2018 and 3.5% compared to July of the previous year.
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In June, the number of tourists in accommodation establishments stayed at last year’s level
According to Statistics Estonia, in June 2018, domestic and foreign tourists who stayed in accommodation establishments numbered 372,700, or as many as in June last year. The number of domestic tourists increased and the number of foreign tourists decreased.