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According to Statistics Estonia's preliminary estimate, the decline in the gross domestic product (GDP) slowed down in the second quarter of 2024. GDP fell by approximately 1.7% compared with the second quarter of 2023.

According to Statistics Estonia, in August, the total production of industrial enterprises increased 0.8% at constant prices compared with August 2021. Output rose in two of the three sectors – up 10.2% in electricity production and as much as 121.4% in mining – but fell 3.7% in manufacturing.

According to Statistics Estonia, in May 2022, the total production of industrial enterprises increased by 4.8% at constant prices compared to May 2021. Output increased in all three industrial sectors: by 2.2% in manufacturing, by 34.2% in electricity production and by 25.5% in mining.

According to Statistics Estonia, in July, the total production of industrial enterprises decreased 6.4% at constant prices compared with July 2021. Output rose in one of the three sectors – up 5.2% in electricity production – but fell 6.4% in manufacturing and 17.5% in mining.

According to Statistics Estonia, nearly 274,000 tourists stayed in accommodation establishments in September 2023, which is 5% more than in September last year but 36% less than in August this year. Compared with September 2022, there were more foreign as well as more domestic tourists served by accommodation establishments.

Märt Umbleja, leading analyst at Statistics Estonia, pointed out that the last time the dwelling price index fell compared with the previous quarter was in the third quarter of 2023. “Compared with the second quarter of 2024, the prices of apartments decreased by 1% in areas bordering Tallinn and in Tartu and Pärnu cities, and by 7.7% in the rest of Estonia. In Tallinn, apartment prices continued to rise, increasing by 0.9% from the previous quarter,” Umbleja noted. Compared with the third quarter of 2023, apartment prices went up by 5.8% and the prices of houses by 8.1%. The monetary volume

According to Statistics Estonia, more than 222,000 tourists stayed in accommodation establishments in November 2023, which is 1% less than in November 2022 and 11% less than in October 2023. Year on year, accommodation establishments hosted fewer foreign as well as domestic tourists.

Piret Pukk, leading analyst at Statistics Estonia, said that Estonian residents have been travelling more in recent years but are still not making as many trips as before the pandemic, especially as concerns outbound trips. “Last year, the number of domestic trips was again over two times bigger than the number of outbound trips. In 2019, Estonian residents made 1.7 million overnight outbound trips and 3.5 million overnight domestic trips. In 2024, the number of trips abroad was 9% smaller than in 2019, while the number of domestic trips was almost back at the pre-pandemic level,” said Pukk

The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, fell by 0.4% in October 2023 compared with September and by 3.0% compared with October last year.