Industrial producer price index continued to decrease in December

news release no 9

According to Statistics Estonia, in December 2018, the change of the producer price index of industrial output was -0.6% compared to November and 1.6% compared to December 2017.

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Construction price index growth accelerated year on year as well as quarter on quarter

news release no 8

According to Statistics Estonia, in 2018, the construction price index increased by 1.7% compared to the average of 2017. In the 4th quarter of 2018, compared to the 3rd quarter, the change of the construction price index was 0.8%, and compared to the 4th quarter of 2017, it was 1.7%.

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The population of Estonia increased last year

news release no 7

According to Statistics Estonia, the preliminary estimate of the population of Estonia as at 1 January 2019 was 1,323,820, which is 4,690 persons more than at the same time a year ago.

Population change, 2012–2018

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In November, the trade deficit decreased

news release no 6

According to Statistics Estonia, in November 2018, the exports of goods increased by 18% and imports by 15% compared to November 2017. The trade deficit was 56 million euros. The last time the balance was under 60 million euros was in January 2015.

Estonia\'s foreign trade by month, 2016–2018

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In November, the number of tourists who stayed in accommodation establishments decreased

news release no 5

According to Statistics Estonia, in November 2018, domestic and foreign tourists who stayed in accommodation establishments numbered 235,000, which is 1% fewer than in November 2017. Compared to November 2017, the number of domestic tourists increased and the number of foreign tourists decreased.

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The greatest impact on the annual change of the consumer price index came from housing

news release no 4

According to Statistics Estonia, the consumer price index increased 3.4% in 2018 compared to the average of 2017.

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Consumer Price Index in December

news release no 3

According to Statistics Estonia, the change of the consumer price index in December 2018 was -0.3% compared to November 2018 and 3.4% compared to December 2017.

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

news release no 2

According to Statistics Estonia, in November 2018, the production of industrial enterprises increased by 8% compared to November 2017. Production increased in manufacturing and energy, but decreased in mining.

The volume index and trend of production in manufacturing, January 2009 – November 2018 (2015 = 100)

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In November, the turnover growth of retail trade enterprises accelerated

news release no 1

According to Statistics Estonia, in November 2018, compared to November 2017, the turnover of retail trade enterprises increased 5% at constant prices. While in October the turnover increased 3% compared to the same month of the previous year, in November the growth accelerated.

Turnover volume index of retail trade enterprises and its trend, January 2008 – November 2018 (2015=100)

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How does wealth affect consumption?

article
Märt Leesment

Quite often, money is used as the measure of wealth. Consumer demand has a direct impact on supply, i.e. the activity of entrepreneurs. Thus, it is good to understand the correlation between consumption and economic development, whether and how wealth affects the consumption of goods and services and how the consumption pattern is related to both the economic development of countries as well as the wealth of their households.

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What is the economic growth engine of Estonia?

article
Jaan Õmblus

Entrepreneurial activity plays a significant role in economic development ‒ it is often a major driver of economic growth. Entrepreneurial activity facilitates the creation of new jobs and innovation and therefore it is important to study and identify the factors that generate and keep up entrepreneurial activity. The paper makes an attempt to identify the economic sectors which create the most value added and the determinants of the generation of value added.

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