Only sex can save Estonian economy

The following column is written by Annika Matson, editor-in-chief of Estonian business daily Äripäev online channel aripaev.ee.

An appeal from a well-known online vendor plumped down in my mailbox today, explaining that Estonia could be salvaged from foundering only if Estonians had more sex and, by doing so, also did breed.
I took a liking to this [...]

In July the retail sales decreased

According to Statistics Estonia, in July 2008 compared to July of the previous year the retail sales of goods of retail trade enterprises decreased 3% in constant prices.

In July, the retail sales of goods of retail trade enterprises were 5 billion kroons. In grocery stores the retail sales of goods decreased 1% compared with July [...]

The growth of wages and salaries slowed down in the 2nd quarter

According to Statistics Estonia, in the 2nd quarter of 2008, the average monthly gross wages and salaries were 13,306 kroons and the hourly gross wages and salaries were 78.26 kroons. The growth of wages and salaries that had remained around 20% in the last five quarters slowed down in the 2nd quarter. Compared to the [...]

Fitch: Latvia, Estonia face risk of recession

Latvia and Estonia face an increased risk of economic recession in the next 12 months, which may put pressure on their credit ratings, Fitch Ratings said, Bloomberg reports.
“The downturn is sharp in Estonia and Latvia and they are at risk of recession, heightening downward pressure on creditworthiness,” Fitch analyst Eral Yilmaz, said in a statement.
The [...]

The decline in construction production continued

According to Statistics Estonia, in the 2nd quarter of 2008 compared to the same period of the previous year, the total production of Estonian construction enterprises in Estonia and in foreign countries decreased 6%. The decline in construction production that had started at the beginning of the present year continued in the 2nd quarter, too.

In [...]

Eesti Pank: fiscal balance should be preferred to other election promises

Economic policy statement of Eesti Pank,
27 August 2008
Compared to spring 2008, the external environment has become more fickle in the summer. While at the beginning of the year Estonia’s main trading partners enjoyed considerably rapid growth, it slowed remarkably in the second quarter with the euro-area economy even shrinking by 0.2 per cent. Commodity prices, [...]

WWF recognises Estonia for reducing pollution of Baltic Sea

The World Wildlife Fund (WWF) has commended Estonia as the Baltic Sea country which most effectively reduced maritime pollution in its recent report.
In a comparison of the nine Baltic Sea countries, Estonia has most effectively reduced the effect of harmful substances to the Baltic Sea environment, stated the WWF report released Wednesday in Stockholm.
Among the [...]

Estonian economy set to return to growth in 2009

According to the summer 2008 economic forecast of the Ministry of Finance, the Estonian economy will grow by 2.6 percent in 2009, with inflation dropping to 6 percent. The economy is quickly adjusting from a situation of economic growth surpassing potential to a more sustainable level.
 
The slowdown in economic growth, which has been more rapid [...]

In June both exports and imports of goods decreased

According to Statistics Estonia, in June 2008 the value of exports of goods in current prices was 10.7 billion kroons and the value of imports of goods 14.3 billion kroons. The value of both exports and imports decreased compared to June of the previous year.

In the first half-year of 2008 the value of the exports [...]

Net profit of Port of Tallinn up by one tenth

The consolidated net profit of Estonia’s AS Tallinna Sadam grew by one tenth to 252.6 million kroons (EUR 16.14 mln) in H1 against the same period last year thanks to a lower income tax on dividends.
The operating profit of the company in H1 this year amounted to 318 million kroons, 24.3 million kroons less than [...]