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Blog
Latest UN projection: world population will continue to grow for at least another 60 years
The most populous country is India, and the world's population will continue to increase until at least 2084. This is according to the population projection published by the United Nations in July.
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In July, the volume of industrial production was greater than a year ago
According to Statistics Estonia, in July 2017, the production of industrial enterprises increased 5% compared to July 2016. Production increased in mining and quarrying and in manufacturing but decreased in the energy sector.
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In July, stable turnover growth of retail trade enterprises continued
According to Statistics Estonia, in July 2017, compared to July of the previous year, the turnover of retail trade enterprises increased 1% at constant prices. While in June turnover growth accelerated to 4% compared to the same month of the previous year, in July growth decelerated and sales continued to grow at one percent similarly to April and May.
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Economic growth further accelerated in the 2nd quarter
According to Statistics Estonia, the gross domestic product (GDP) of Estonia increased 5.7% in the 2nd quarter of 2017 compared to the 2nd quarter of 2016.
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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.
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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.
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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%.
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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.
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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.
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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%.
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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.
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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.
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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.