Innovation refers to the launch of a new or significantly improved product or service or the introduction of a new business process. The aim of innovation is to create value and gain a competitive advantage, which will benefit the enterprise’s development and increase productivity, simultaneously contributing to economic growth. Product or process innovation can involve the application of new technological solutions, a new combination of existing technologies or the application of the knowledge available to the enterprise. However, innovation may not always result in the launch of a new
Why is it necessary to submit data to Statistics Estonia? Enterprises have an obligation to submit data, because statistics reflecting the functioning of the society are needed for state governance as well as for enterprises themselves for drawing up development plans and making decisions. Based on the data, government authorities assess the state of the economy, which has an impact on taxes and wages. The questionnaires that enterprises are expected to fill in are listed on Statistics Estonia’s website under the heading “Obligation to submit data“. The statistics produced on the basis of the
Since 2014, 73,400 foreign citizens have become e-residents of Estonia. 20% of these e-residents have participated in founding a business and over 14,200 businesses have been registered in Estonia with their participation. We looked into where e-residents come from and what are the activities of their Estonian enterprises.
Industry is the largest sector of the economy and an important driver of economic growth. Industrial enterprises create many jobs and provide opportunities for other types of business as well. Industry is a sector of the economy which covers mining and processing natural resources; energy production and manufacture of equipment, machinery and products; processing of agricultural products; processing of manufactured products. Statistics Estonia collects and publishes economic indicators for three industrial activities – mining, energy production and manufacturing. The mining industry involves
According to Statistics Estonia, in 2019, the expenditures on research and development (R&D) in Estonia amounted to 453 million euros, which is 24% more than in 2018. The share of R&D expenditures in the gross domestic product was 1.61%, making it the highest share in the last five years.