Title of statistical activity: Financial statistics of enterprises (quarterly)

Code of statistical activity: 20007

  1. Contact
  2. Metadata update
  3. Statistical presentation
  4. Unit of measure
  5. Reference period
  6. Institutional mandate
  7. Confidentiality
  8. Release policy
  9. Frequency of dissemination
  10. Accessibility and clarity
  11. Quality management
  12. Relevance
  13. Accuracy and reliability
  14. Timeliness and punctuality
  15. Coherence and comparability
  16. Cost and burden
  17. Data revision
  18. Statistical processing

1. Contact Individual or organisational contact points for the data or metadata, including information on how to reach the contact points.

1.1. Contact organisation The name of the organisation of the contact points for the data or metadata.

Statistics Estonia

1.2. Contact organisation unit An addressable subdivision of an organisation.

Enterprise and Agricultural Statistics Department

1.3. Contact name The name of the contact points for the data or metadata.

Merike Sinisaar

1.4. Contact person function The area of technical responsibility of the contact, such as "methodology", "database management" or "dissemination".

Leading Analyst

1.5. Contact mail address The postal address of the contact points for the data or metadata.

51 Tatari Str, 10134 Tallinn, Estonia

1.6. Contact email address E-mail address of the contact points for the data or metadata.


1.7. Contact phone number The telephone number of the contact points for the data or metadata.

+372 625 9291

2. Metadata update The date on which the metadata element was inserted or modified in the database.

2.1. Metadata last certified Date of the latest certification provided by the domain manager to confirm that the metadata posted are still up-to-date, even if the content has not been amended.


2.2. Metadata last update Date of last update of the content of the metadata.


3. Statistical presentation

3.1. Data description Main characteristics of the data set described in an easily understandable manner, referring to the data and indicators disseminated.

Enterprises’ turnover, costs, inventories, investments, number of hours worked, value added, productivity and other ratios by economic activity and number of persons employed

3.2. Classification system Arrangement or division of objects into groups based on characteristics which the objects have in common.

Estonian Classification of Economic Activities (EMTAK 2008) based on NACE Rev. 2

3.3. Sector coverage Main economic or other sectors covered by the statistics.

Non-financial enterprises:

Agriculture, forestry and fishing

Mining and quarrying


Electricity, gas, steam and air conditioning supply

Water supply; sewerage, waste management and remediation activities


Wholesale and retail trade; repair of motor vehicles and motorcycles

Transportation and storage

Accommodation and food service activities

Information and communication

Real estate activities

Professional, scientific and technical activities

Administrative and support service activities


Human health and social work activities

Arts, entertainment and recreation

Other service activities

3.4. Statistical concepts and definitions Statistical characteristics of statistical observations.

Enterprise – an enterprise consists of one or more companies (public limited company, private limited company, limited partnership, general partnership, commercial association) or branches of foreign companies or sole proprietors. Short-term statistics cover only branches of foreign companies with 20 or more persons employed and sole proprietors. Statistical unit is an enterprise.

Investments in tangible fixed assets and investment property – all expenditures on fixed assets, which prolong the service life or increase the productive capacity of capital goods, improve the quality of production or reduce production expenses. Fixed assets refer to assets, which are used in business over a longer period of time, usually for more than a year. Enterprise itself fixes the lower limits of the service life and monetary value of the object of fixed assets and makes the respective entry in the bookkeeping records. Investment property is land and/or buildings held to earn rentals or for capital appreciation or both.

Quarterly average number of employed persons – the total number of persons who work in the enterprise. Employed persons include also the number of working proprietors and their family members, if they work in the enterprise.

Standard output is the monetary value of gross agricultural production at farm-gate price corresponding to the average situation of each agricultural activity which is calculated on the basis of crop area, number of livestock and Standard output coefficients. Standard output does not include VAT, other taxes on products and direct payments.

Turnover (formerly ‟net sales”) – income from sale of all products, goods and services received or to be received, which does not include VAT, excises and turnover from the sale of fixed assets. Turnover is equal with the pay received or to be received and is calculated on a accrual basis accounting. Turnover excludes subsidies.

3.5. Statistical unit Entity for which information is sought and for which statistics are ultimately compiled.


3.6. Statistical population The total membership or population or "universe" of a defined class of people, objects or events.

Enterprises, excluding financial and insurance enterprises


List of active enterprises, excluding financial and insurance enterprises. The list is generated from the Business Register for Statistical Purposes.

3.7. Reference area The country or geographic area to which the measured statistical phenomenon relates.

Estonia as a whole

3.8. Time coverage The length of time for which data are available.


3.9. Base period The period of time used as the base of an index number, or to which a constant series refers.

Not applicable

4. Unit of measure The unit in which the data values are measured.

Financial data (net sale, costs, inventories, investments) – euro

Employment – the average number of persons employed in the quarter

Hours worked – thousand hours (with one decimal)

5. Reference period The period of time or point in time to which the measured observation is intended to refer.


6. Institutional mandate

6.1. Legal acts and other agreements Legal acts or other formal or informal agreements that assign responsibility as well as the authority to an agency for the collection, processing, and dissemination of statistics.


Council Regulation (EC) No 1165/98 of 19 May 1998 concerning short-term statistics

Regulation (EC) No 1158/2005 of the European Parliament and of the Council of 6 July 2005 amending Council Regulation (EC) No 1165/98 concerning short-term statistics

Commission Regulation (EC) No 1502/2006 of 28 September 2006 implementing Council Regulation (EC) No 1165/98 concerning short-term statistics as regards derogations to be granted to Member States

Regulation (EU) 2015/458 of 19 March 2015 amending Regulation (EC) No 657/2007 implementing Council Regulation (EC) No 1165/98 concerning short-term statistics as regards the establishment of European sample schemes

Regulation (EU) No 461/2012 of 31 May 2012 amending Council Regulation (EC) No 1165/98 concerning short-term statistics and Commission Regulations (EC) No 1503/2006, (EC) No 657/2007 and (EC) No 1178/2008 as regards adaptations related to the removal of the industrial new orders variables

Regulation (EC) No 329/2009 of 22 April 2009 amending Council Regulation (EC) No 1165/98 concerning short-term statistics as regards the updating of the list of variables, the frequency of compilation of the statistics and the levels of breakdown and aggregation to be applied to the variables

Commission Regulation (EC) No 1178/2008 of 28 November 2008 amending Council Regulation (EC) No 1165/98 concerning short-term statistics and Commission Regulations (EC) No 1503/2006 and (EC) No 657/2007 as regards adaptations following the revision of statistical classifications NACE and CPA

Commission Regulation (EC) No 472/2008 of 29 May 2008 implementing Council Regulation (EC) No 1165/98 concerning short-term statistics as regards the first base year to be applied for time series in NACE Revision 2 and, for time series prior to 2009 to be transmitted according to NACE Revision 2, the level of detail, the form, the first reference period, and the reference period

Commission Regulation (EC) No 657/2007 of 14 June 2007 implementing Council Regulation (EC) No 1165/98 concerning short-term statistics as regards the establishment of European sample schemes

Commission Regulation (EC) No 1503/2006 of 28 September 2006 implementing and amending Council Regulation (EC) No 1165/98 concerning short-term statistics as regards definitions of variables, list of variables and frequency of data compilation

Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (Text with EEA relevance)


Commission Implementing Decision of 26 June 2014 on granting derogations to Member States with respect to the transmission of statistics pursuant to Regulation (EU) No 549/2013 of the European Parliament and of the Council concerning the European system of national and regional accounts in the European Union (notified under document C(2014) 4164) (Text with EEA relevance)


Organisation for Economic Co-operation and Development (OECD)

United Nations Organisation (UNO)

7. Confidentiality A property of data indicating the extent to which their unauthorised disclosure could be prejudicial or harmful to the interest of the source or other relevant parties.

7.1. Confidentiality - policy Legislative measures or other formal procedures which prevent unauthorised disclosure of data that identify a person or economic entity either directly or indirectly.

The dissemination of data collected for the purpose of producing official statistics is guided by the requirements provided for in § 32, § 34, § 35, § 38 of the Official Statistics Act.

7.2. Confidentiality - data treatment Rules applied for treating the data set to ensure statistical confidentiality and prevent unauthorised disclosure.

The treatment of confidential data is regulated by the Procedure for Protection of Data Collected and Processed by Statistics Estonia: https://www.stat.ee/66485.

8. Release policy Rules for disseminating statistical data to interested parties.

8.1. Release calendar The schedule of statistical release dates.

Notifications about the dissemination of statistics are published in the release calendar, which is available on the website. Every year on 1 October, the release times of the statistical database, news releases, main indicators by IMF SDDS and publications for the following year are announced in the release calendar (in the case of publications – the release month).

8.2. Release calendar access Access to the release calendar information.


8.3. User access The policy for release of the data to users, the scope of dissemination (e.g. to the public, to selected users), how users are informed that the data are being released, and whether the policy determines the dissemination of statistical data to all users.

All users have been granted equal access to official statistics: dissemination dates of official statistics are announced in advance and no user category (incl. Eurostat, state authorities and mass media) is provided access to official statistics before other users. Official statistics are first published in the statistical database. If there is also a news release, it is published simultaneously with data in the statistical database. Official statistics are available on the website at 8:00 a.m. on the date announced in the release calendar.

9. Frequency of dissemination The time interval at which the statistics are disseminated over a given time period.


10. Accessibility and clarity

10.1. News release Regular or ad-hoc press releases linked to the data.

The news release “Business” once a quarter. The news release can be viewed on the website https://www.stat.ee/news-releases.

10.2. Publications Regular or ad-hoc publications in which the data are made available to the public.

Not published

10.3. Online database Information about on-line databases in which the disseminated data can be accessed.

Data are published in the statistical database at http://pub.stat.ee under the subject area “Economy / Enterprises income statement, employment and hours worked. Short term statistics” in the following table:

EM041: Financial data of enterprises by economic activity (EMTAK 2008) and number of persons employed at current prices (quarters),

under the subject area “Economy / Economy / Financial statistics of enterprises/Enterprises investments in fixed assets, financial leasing. Short term statistics” in the following table:

EM042: Investments in tangible fixed assets of enterprises by economic activity (EMTAK 2008) at current prices (quarters),

under the subject area “Economy / Population, sample and number of respondents. Quality indicators. Short term statistics” in the following table:

EM046: Population, sample and number of respondents by economic activity (EMTAK 2008) (quarters),

under the subject area “Economy / Service activities” in the following table:

TE0114: Sales and expenditure of service enterprises at current prices by economic activity (EMTAK 2008) (quarters),

under the subject area “Economy / Transport / Economic indicators of transport” in the following table:

TS060: Income of transport enterprises by type of transport (quarters),

under the subject area “Economy / Internal trade / Economic indicators of internal trade” in the following tables:

KM0100: Wholesale sales of goods by economic activity (EMTAK 2008) (quarters)

KM0101: Retail sales by economic activity (EMTAK 2008) (quarters)

KM0104: Retail sales by economic activity (EMTAK 2008) and commodity group (quarters)

KM0107: Trade enterprises' assets, liabilities and trade margin by economic activity (EMTAK 2008) (quarters),

under the subject area “Economy / Tourism, accommodation and catering / Economic indicators of tourism, accommodation and catering” in the following tables:

TU410: Sale of accommodation, catering and touring services by type of service (quarters)

TU411: Accommodation, catering and touring services volume index by type of service, previous period = 100 (quarters)

TU412: Accommodation, catering and touring services volume index by type of service, corresponding period of previous year = 100 (quarters),

under the subject area “Economy / Information technology and communications / Information and communication technology sector” in the following tables:

IT51: Economic indicators of information and communication technology (ICT) sector at current prices by number of persons employed (quarters)

IT53: Share of information and communication technology (ICT) sector enterprises in entrepreneurship by economic indicator and number of persons employed (quarters)

10.4. Microdata access Information on whether micro-data are also disseminated.

The dissemination of data collected for the purpose of producing official statistics is guided by the requirements provided for in § 33, § 34, § 35, § 36, § 38 of the Official Statistics Act. Access to microdata and anonymisation of microdata are regulated by Statistics Estonia’s procedure for dissemination of confidential data for scientific purposes: https://www.stat.ee/dokumendid/51669.

10.5. Other References to the most important other data dissemination done.

Data serve as input for statistical activities 20103 “Construction volume indices“, 20401 “Construction price Index”, 20413 “Service producer price index”, 20901 “Business register for statistical purposes”, 21405 “National accounts (quarterly)”, 21603 “Trade volume indices” and 21207 “Economic accounts for agriculture”.

10.6. Documentation on methodology Descriptive text and references to methodological documents available.

Methodology of short-term business statistics. Interpretation and guidelines, Eurostat (2006)


10.7. Quality documentation Documentation on procedures applied for quality management and quality assessment.

Data on the quality of the population, sample and respondents are published in the Statistical Database under subject area: “Economy/Financial statistics of enterprises”.

11. Quality management Systems and frameworks in place within an organisation to manage the quality of statistical products and processes.

11.1. Quality assurance All systematic activities implemented that can be demonstrated to provide confidence that the processes will fulfil the requirements for the statistical output.

To assure the quality of processes and products, Statistics Estonia applies the EFQM Excellence Model, the European Statistics Code of Practice and the Quality Assurance Framework of the European Statistical System (ESS QAF). Statistics Estonia is also guided by the requirements in § 7. “Principles and quality criteria of producing official statistics” of the Official Statistics Act.

11.2. Quality assessment Overall assessment of data quality, based on standard quality criteria.

Statistics Estonia performs all statistical activities according to an international model (Generic Statistical Business Process Model – GSBPM). According to the GSBPM, the final phase of statistical activities is overall evaluation using information gathered in each phase or sub-process; this information can take many forms, including feedback from users, process metadata, system metrics and suggestions from employees. This information is used to prepare the evaluation report which outlines all the quality problems related to the specific statistical activity and serves as input for improvement actions.

12. Relevance The degree to which statistical information meet current and potential needs of the users.

12.1. User needs Description of users and their respective needs with respect to the statistical data.

Ministry of Economic Affairs and Communications

Ministry of Rural Affairs

Ministry of the Environment

Eesti Pank (central bank of Estonia)

Users’ suggestions and information about taking these into account are available on the website of Statistics Estonia at https://www.stat.ee/statistikatood.

12.2. User satisfaction Measures to determine user satisfaction.

Since 1996, Statistics Estonia has conducted reputation and user satisfaction surveys.

All results are available on the website at https://www.stat.ee/user-surveys.

12.3. Completeness The extent to which all statistics that are needed are available.

In compliance with the rules (regulations)

13. Accuracy and reliability Accuracy: closeness of computations or estimates to the exact or true values that the statistics were intended to measure.
Reliability: closeness of the initial estimated value to the subsequent estimated value.

13.1. Overall accuracy Assessment of accuracy, linked to a certain data set or domain, which is summarising the various components.

The type of survey and the data collection methods ensure sufficient coverage and timeliness.

13.2. Sampling error That part of the difference between a population value and an estimate thereof, derived from a random sample, which is due to the fact that only a subset of the population is enumerated.

The error due to probability sampling is estimated for more important indicators.

13.3. Non-sampling error Error in survey estimates which cannot be attributed to sampling fluctuations.

The response rates in different groups are published in the Statistical Database.

14. Timeliness and punctuality

14.1. Timeliness Length of time between data availability and the event or phenomenon they describe.

The data are published at the latest within 60 days of the end of the reference quarter.

14.2. Punctuality Time lag between the actual delivery of the data and the target date when it should have been delivered.

The data have been published at the time announced in the release calendar.

15. Coherence and comparability

15.1. Comparability - geographical The extent to which statistics are comparable between geographical areas.

The data are comparable with the data of other European Union countries because common methodology, concepts and definitions on short-term statistics are used.

15.2. Comparability - over time The extent to which statistics are comparable or reconcilable over time.

Time series based on the common methodology start with the year 1998.

In 2008, a new version of the Statistical Classification of Economic Activities in the European Community (NACE Rev. 2) was adopted in the European Union. It is the basis for Estonian Classification of Economic Activities 2008 (EMTAK 2008)).

The data are comparable over time. Due to the elaboration of the definition of the enterprise since 2018, there may be a redistribution of indicators between economic activities (legal entities belonging to the group may be consolidated into one enterprise).

15.3. Coherence - cross domain The extent to which statistics are reconcilable with those obtained through other data sources or statistical domains.

The data serve as a basis for 21405 “National accounts (quarterly)”. The enterprise sector contributes ca 70% of the GDP.

The quarterly data of enterprises are comparable to the same annual indicators of the statistical activity 20300 “Financial statistics of enterprises (annual)”.

15.4. Coherence - internal The extent to which statistics are consistent within a given data set.

The internal consistency of the data is ensured by the use of a common methodology for data collection and data aggregation.

16. Cost and burden Cost associated with the collection and production of a statistical product and burden on respondents.

Cost of statistical activity 130.6 thousand euros (data for 2018)

Total time of filling in reports of the statistical activity, working days: 3316.7

Average time of filling in the reports, hours per report:

Majandustegevus 0.9

(data for 2016)

17. Data revision Any change in a value of a statistic released to the public.

17.1. Data revision - policy Policy aimed at ensuring the transparency of disseminated data, whereby preliminary data are compiled that are later revised.

The data revision policy and notification of corrections are described in the dissemination policy of Statistics Estonia at https://www.stat.ee/dissemination-policy.

17.2. Data revision - practice Information on the data revision practice.

The published data may be revised if the methodology is modified, errors are discovered, new or better data become available or when the data for the following quarter are available.

18. Statistical processing

18.1. Source data Characteristics and components of the raw statistical data used for compiling statistical aggregates.


Total population is 100,300 objects. The sample includes 10,600 objects.

All enterprises with 20 or more persons employed, with standard output at least 500,000 euros (agriculture) and those belonging to the small stratums are surveyed. For enterprises with less than 20 persons employed, simple random sampling by the number of persons employed and economic activity is applied.


Data on the following tax returns are received from the Estonian Tax and Customs Board: value added tax return (form KMD); declaration of income and social tax, unemployment insurance premiums and contributions to mandatory funded pension (form TSD); payments made to resident natural persons, withheld income tax, unemployment insurance premiums and contributions to mandatory funded pension, calculated social tax and contributions to funded pension calculated on parental benefits (form TSD, Annex 1); payments made to non-resident natural persons, withheld income tax, unemployment insurance premiums and calculated social tax (form TSD, Annex 2).


Not used

18.2. Frequency of data collection Frequency with which the source data are collected.


18.3. Data collection Systematic process of gathering data for official statistics.

Data are collected and the submission of questionnaires is monitored through eSTAT (the web channel for electronic data submission). The questionnaires have been designed for independent completion in eSTAT and include instructions and controls. The questionnaires and information about data submission are available on Statistics Estonia’s website at https://www.stat.ee/andmete-esitamine (in Estonian).

Data are collected with the quarterly official statistics questionnaire “Economic activity”.

The data from the Tax and Customs Board are received via X-Road and an FTP-server.

18.4. Data validation Process of monitoring the results of data compilation and ensuring the quality of statistical results.

Arithmetic and qualitative controls are used in the validation process, including comparison with other data.

18.5. Data compilation Operations performed on data to derive new information according to a given set of rules.

In the case of missing or unreliable data, estimate imputation based on established regulations will be used. The data of the enterprises that did not submit the questionnaire are replaced by the respective average of responded similar enterprises.

Variables and statistical units which were not collected but which are necessary for producing the output are calculated. New variables are calculated by applying arithmetic conversion to already existing variables. This may be done repeatedly, the derived variable may, in turn, be based on previously derived new variables.

For statistical units weights are calculated, which are used to expand the data of the sample survey to the total population.

Microdata are aggregated to the level necessary for analysis. This includes aggregating the data according to the classification, and calculating various statistical measures, e.g. average, median, dispersion, etc.

The collected data are converted into statistical output. This includes calculating additional indicators.

18.6. Adjustment The set of procedures employed to modify statistical data to enable it to conform to national or international standards or to address data quality differences when compiling specific data sets.

The series of sales revenue and labour cost are adjusted. Time series are seasonally adjusted and trend-cycle is estimated.

19. Comments Supplementary descriptive text which can be attached to data or metadata.

Since 2016 the statistical activities 20005 “Quarterly economic indicators of service enterprises”, 20006 “Quarterly economic indicators of industrial enterprises”, 20101 “Quarterly economic indicators of construction enterprises”, 20504 “Quarterly accounts of information and communication technology sector”, 21602 “Quarterly economic indicators of trade enterprises”, 22019 “Quarterly economic indicators of transport enterprises” and 22106 “Quarterly economic indicators of tourism and accommodation” are merged with the activity 20007 “Financial statistics of enterprises (quarterly)”.

With the listed statistical activities, the indicators of enterprises of selected economic activities were compiled to be published as a separate table.

Since 2018 is merged statistical activity 20004 “Financial statistics of agricultural, forestry and fishing enterprises (quarterly)”.