Average wages and salaries rose by 8.1% last year
According to Statistics Estonia, the average monthly gross wages and salaries in 2024 stood at €1,981, which is 8.1% higher than in 2023. In the fourth quarter of 2024, the average monthly gross wages and salaries were €2,062, which is 8.3% higher than in the same quarter of 2023.
The increase in manufacturing output in January was mainly driven by the wood industry
According to Statistics Estonia, in January 2025, the total production of industrial enterprises decreased by 2.5% at constant prices compared with January 2024. Among the three industrial sectors, output increased by 2% in manufacturing but decreased by 7.4% in mining and by 21.8% in electricity production.
Exports of services up by 7% and imports by 5% in 2024
According to Statistics Estonia and Eesti Pank, in 2024, Estonia’s exports of services grew by 7% and imports by 5%. Exports of services totalled €12.5 billion and imports €9.5 billion at current prices. The balance of foreign trade in services was in surplus by €2.9 billion, which is €333 million more than in 2023.
HICP flash estimate: prices up by 1.3% in February
According to the preliminary estimate of Statistics Estonia, in February 2025, the harmonised index of consumer prices (HICP) increased by 1.3% compared with January and by 5% compared with February last year.
Economy grew by 1.2% in Q4 of 2024
According to Statistics Estonia, in the fourth quarter of 2024, the gross domestic product (GDP) grew by 1.2% compared with the same period of 2023. Estonia's GDP contracted by 0.3% in 2024. The GDP at current prices amounted to €10.6 billion in the final quarter of last year and to €39.5 billion in 2024 as a whole.
Retail trade volume up by 3% in January
According to Statistics Estonia, in January, the turnover of retail trade enterprises was 804 million euros. Compared with January 2024, the volume of retail trade turnover increased by 3%.