In September the downward trend of retail sales continued

According to Statistics Estonia, the retail sales of goods of retail trade enterprises decreased in September 2008 compared to this August as well as compared to September of the previous year.

A downward trend in the retail sales of goods of retail trade enterprises which started last year continued also in September of this year. High [...]

In September the industrial production was smaller than a year ago

According to Statistics Estonia, in September 2008 compared to September of the previous year, the production of industrial enterprises decreased 4%.

In manufacturing, the production fell 3% compared to the previous year. The main reason hindering the increase in production was insufficient market demand. The decrease in the production of manufacturing was mainly influenced by the [...]

Estonian Government agreed measures to improve crisis management tools

The Ministry of Finance, Bank of Estonia and the Financial Supervision Authority presented an overview of the situation on the international financial markets and gave their opinion of the risks in the financial sector of Estonia at today’s cabinet meeting. Possible measures that could be applied by the state of Estonia to prevent and manage [...]

Estonians can go to US without a visa starting on 17 November

Foreign Minister Urmas Paet met with United States Secretary of Homeland Security Michael Chertoff, in Tallinn for a visit, on Wednesday, 29 October. 
At the meeting, Foreign Minister Urmas Paet and USA Secretary of Homeland Security Michael Chertoff expressed their satisfaction over the successful co-operation between the governments of Estonia and the United States. A result [...]

Estonian citizens do not need visa to travel to Australia

Beginning on 27 October, Estonian citizens can travel to Australia for business or tourism without a visa.
Foreign Minister Urmas Paet stated that Australia is certainly a travel destination that Estonians are interested in, and visa freedom will simplify travelling to the country. “Replacing the visa requirement with electronic registration prior to entering Australia will simplify [...]

Remediation of Sillamäe’s radioactive tailings pond completed

An international conference opening on Oct 28, 2008 in Jõhvi in Ida-Viru County will mark the completion of 10 years of remediation work on the radioactive tailings pond in Sillamäe. Cooperation between Estonia, the Nordic countries and the European Union has removed one of the greatest threats of pollution to the Baltic Sea.

“Sorting out the [...]

Estonia meets EU average for percentage of GDP allocated to R&D

Estonia is average among European Union member countries in terms of financing the research and development (R&D) sphere, according to a Eurostat study.
While 1.84 percent of the gross domestic product (GDP) was the average allocated by European Union states for research and development and labour costs of the sector in 2006, in Estonia the percentage [...]

The Maastricht inflation criterion and the new EU members from Central and Eastern Europe

This paper discusses the prospects of the new EU members from Central and Eastern Europe joining the European Economic and Monetary Union in the short and medium term. The countries must attain and sustain inflation rates sufficiently low to abide by the Maastricht inflation criterion, but this is complicated by the process of real convergence [...]

More than half of enterprises reach their fifth year of activity

According to Statistics Estonia, 58% of the enterprises that were born in 2002 survived until 2006. The highest survival rate of enterprises was in the field of health and social work; the survival rate was the lowest for financial services enterprises.

The years 2002–2006 were good for Estonian economy. Economic growth was accelerating every year, providing [...]

Riigikogu approved development plan for use of oil shale

On Tuesday 21 October the Riigikogu (the Estonian parliament) approved the National Development Plan for the Use of Oil Shale 2008–2015, which examines the mining and use of one of Estonia’s key natural resources primarily in terms of national and environmental interests for the first time.
 

The development plan sets out the ways in which this important [...]