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Industrial production fell by 4.7% in April

Article
According to Statistics Estonia, in April 2024, the total production of industrial enterprises fell by 4.7% compared with April last year. Among the three main sectors, output increased by 3.6% in mining and by 10.1% in electricity production but decreased by 5.7% in manufacturing.

Tourism Survey

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What kind of survey is it? The Tourism Survey provides an overview of travelling of Estonian residents: the number of domestic and outbound overnights trips, purposes and duration of trips, travel arrangements, expenses and the most popular destinations. Who commissions the survey? The survey is commissioned by the Ministry of Economic Affairs and Communications. The data are also used by the Bank of Estonia, Enterprise Estonia, and Eurostat. How often is the survey conducted? The survey is conducted monthly. Quarterly and annual data are published. Why are the data needed? The survey data are

The economy contracted by 1% in Q2

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According to Statistics Estonia, in the second quarter of 2024, the gross domestic product (GDP) decreased by 1% compared with the same period of 2023. The GDP at current prices amounted to €9.8 billion.

In the first quarter, the economy contracted by 2.4%

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According to Statistics Estonia, in the first quarter of 2024, the gross domestic product (GDP) decreased by 2.4% compared with the same period of 2023. The GDP at current prices amounted to 8.9 billion euros.

Real GDP growth rate (chain-linked volume)

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Gross domestic product (GDP) is calculated taking account of all economic transactions. When calculating the real economic growth, there needs to be an adjustment for price changes. The nominal GDP includes price changes, which is removed when calculating the real GDP. The real economic growth shows how much the volume of goods in the economy has increased.

Construction volume down by 4% in the second quarter

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According to Statistics Estonia, in the second quarter of 2024, the total production value of Estonian construction enterprises in Estonia and abroad decreased by 4% compared with the second quarter of 2023. On the domestic construction market, volume fell by 3%.

GDP flash estimate: the economy contracted by 0.7% in Q3

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Robert Müürsepp, team lead of national accounts at Statistics Estonia, said that, compared with the previous quarter, the economy was stable. “Compared with the second quarter of 2024, the seasonally and working-day adjusted GDP was up by 0.1%,” noted Müürsepp. According to Eurostat , the EU economy showed slightly faster growth in the third quarter, as the increase in GDP was 0.9% year on year. Statistics Estonia will publish more detailed GDP data for the third quarter of 2024 on 29 November . See also the GDP flash estimate in the statistical database . Learn more about national accounts

Production of industrial enterprises down by 5.7% in March

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According to Statistics Estonia, in March 2024, the total production of industrial enterprises fell by 5.7% compared with March last year. Among the three main sectors, output increased slightly in mining (by 0.4%), but decreased by 6.5% in manufacturing and by 4.4% in electricity production.

Volume of retail trade turnover down by 4% in September

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Johanna Linda Pihlak, analyst at Statistics Estonia, said that the decline in the volume of retail trade turnover in September was mainly due to stores selling manufactured goods, as their turnover volume decreased by 6% year on year. “Among stores selling manufactured goods, the biggest decline at 10% was registered in the turnover volume of other specialised stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc., and also in the turnover volume of stores selling household goods and appliances, hardware and building materials,” added Pihlak