LHV Bank earns 0,17 mEUR profit in Q3

Estonia’s LHV Pank earned in the third quarter of this year a profit of 2.7 million kroons (EUR 172 500) and its assets grew to 600 million kroons by the end of the period.
Net revenues increased by 16% in comparison with the third quarter of 2008, the bank said. The amount of deposits increased by [...]

Sustainability has both positive and negative trends

According to Statistics Estonia, during the last decade Estonia experienced a fast progress towards economic welfare, but the same cannot be said in regard to social coherence, ecological balance and developments in the cultural space. Nevertheless, both negative and positive trends can be witnessed in all these spheres.

The Estonian National Strategy on Sustainable Development targets [...]

Decrease in sales of manufactured goods affected most the retail sales

According to Statistics Estonia, the retail sales of goods of retail trade enterprises decreased in September 2009 compared to August this year as well as compared to September of the previous year. The decrease in retail sales was most influenced by stores selling manufactured goods, where the decrease in sales slightly accelerated compared to the [...]

Stable decrease in industrial production

According to Statistics Estonia, in September 2009 compared to September of the previous year, the production of industrial enterprises decreased 30%. Since February the decrease in production has been within the limits of 30% compared to the same month of the previous year.

During last months, the situation in manufacturing did not change — the production [...]

Netherlands will represent Estonia for issuing visas in Jordan

The government approved an agreement by which the Kingdom of the Netherlands will begin to represent Estonia in visa matters in Amman in the Hashemite Kingdom of Jordan. The agreement will come into force on 1 November.
Foreign Minister Urmas Paet noted that the ministry works continually to find new opportunities for issuing Schengen visas for [...]

Estonian, Spanish ministers speak about EU IT Agency

Estonian Interior Minister Marko Pomerants, in a meeting with his Spanish colleague Alfredo Perez Rubalcaba, spoke about the priorities for the Spanish presidency of the European Union and the future of the IT agency for justice and interior affairs.
The two ministers met in Luxembourg on the sidelines of a session of the EU justice and [...]

In August the trade balance was positive with main countries of destination

According to Statistics Estonia, in August 2009 Estonian trade deficit was 1.6 billion kroons. At the same time the trade balance with the five biggest countries of destination was positive (exports exceeded imports).

In August 2009, exports of goods from Estonia totalled 7.7 billion kroons and imports to Estonia 9.3 billion kroons. Both exports and imports [...]

Estonia to promote itself as travel destination in St. Petersburg

Enterprise Estonia (EAS) will launch a publicity campaign in St. Petersburg, Russia on Monday to promote itself as a destination for winter holiday travel.
The main Estonian destinations featured in the four-million-kroon (EUR 0.26 mln) campaign are Tallinn, Tartu and Pärnu. “Tallinn is a popular venue for spending the New Year Holiday for Russians, but at [...]

IMF: Estonian financial sector is stable and strong

The Estonian financial sector is stable and strong, the head of the visiting IMF delegation Christoph B. Rosenberg said in a meeting with President Toomas Hendrik Ilves on Wednesday.
The meeting focused on Estonia’s responsible budgetary policy and its continuation, which is a key to recovering from the crisis and achieving the goal of joining the [...]

Estonia’s government debt the lowest in EU

According to Eurostat, Estonia had the lowest ratio of government debt to GDP in 2008 at 4.6%. Estonia was followed by Luxembourg (13.5%), Romania (13.6%), Bulgaria (14.1%), and Lithuania (15.6%).
In 2008 the largest government deficits in percentage of GDP were recorded by Greece (-7.7%), Ireland (-7.2%), Romania (-5.5%), the United Kingdom (-5.0%), Malta (-4.7%), Spain [...]