The profit of the business sector increased in the 3rd quarter
According to Statistics Estonia, in the 3rd quarter of 2018, the total profit of the business sector was 871 million euros, which is 21% more than in the same period the year before.
Compared to the 3rd quarter of 2017, total profit increased in most economic activities. Manufacturing, real estate and trade enterprises contributed the most to the total profit of the business sector.
In the 3rd quarter of 2018, enterprises sold goods and services for 15.5 billion euros, i.e. 12% more than in the same period the year before. The turnover of trade and manufacturing enterprises, which have the biggest share in the total turnover of the business sector, increased respectively by 11% and 6% compared to the 3rd quarter of 2017.
Compared to the same quarter of the previous year, the total expenditure of enterprises increased by 12%, including an 11% increase in labour costs. The number of persons employed increased by 4% and the number of hours worked by 2% in a year. Labour productivity of the business sector on the basis of value added amounted to an average of 6,200 euros in a quarter per person employed, i.e. a tenth more than in the 3rd quarter of 2017.
In the 3rd quarter of 2018, enterprises invested 541 million euros, which is 13% more than in the same period the year before. The investments were made mostly in machinery and equipment, and in buildings. The main investors were manufacturing, energy, real estate and trade enterprises, which accounted more than half of the total investments of all enterprises. Compared to the 3rd quarter of 2017, investments in buildings, transport equipment and in machinery and equipment increased. Other investments decreased.
The statistics are based on the questionnaire “Economic activity, quarter”, the submission date of which was 21 October 2018. Statistics Estonia published the quarterly summary in 27 working days. For the statistical activity “Financial statistics of enterprises (quarterly)”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.