According to Statistics Estonia, in the 3rd quarter of 2013 the total profit of the business sector was 945 million euros, which was 5% more than in the same period a year earlier.
Compared to the 3rd quarter of 2012, total profit increased in almost all economic activities. The biggest contribution to total profit was made by activities mainly relying on the domestic market – trade, real estate and energy. The profit of manufacturing, which had been showing a downward trend since the fourth quarter of the previous year and which holds the largest share in the total profit of the business sector, started increasing again. The profit of manufacturing increased 4% compared to the 3rd quarter of last year, first of all due to the increase of profits in the export-oriented manufacture of electronics and wood products.
In the 3rd quarter of 2013, enterprises sold goods and services for 12.9 billion euros, which was 9% more than in the same period a year ago. The turnover of wholesale and retail trade and manufacturing enterprises, which have the biggest share in the turnover of the total business sector, increased 18% and 5%, respectively.
Compared to the 3rd quarter of 2012, the total costs of enterprises increased 10%. Personnel expenses increased 10% as well. The number of persons employed as well as the number of hours worked increased 3%. The labour productivity of the business sector on the basis of the value added amounted to on an average of 5,700 euros per person employed in a quarter and was 5% higher than in the same period a year ago.
In the 3rd quarter, enterprises invested 697 million euros, which is 14% more than at the same time a year earlier. The largest investments were made mainly in equipment and machinery, and in buildings. The main investors were energy, manufacturing and agricultural enterprises with more than a half of the total investments of enterprises. Compared to the 3rd quarter of 2012, only investments in equipment and machinery decreased. Other investments increased – in the acquisition of buildings, the most.
Total profit of the business sector, 1st quarter 2009 – 3rd quarter 2013
Source: Statistics Estonia