The profit of the business sector increased in 3Q by 5 pct

According to Statistics Estonia, in the 3rd quarter of 2015, the total profit of the business sector was 892 million euros, which was 5% more than in the same period a year ago.

Compared to the 3rd quarter of 2014, total profit increased in almost all economic activities. The biggest contribution to the growth in total profit was made by real estate and information and communication enterprises. The growth in the profit of the business sector was negatively influenced mostly by transportation and storage and manufacturing enterprises.

In the 3rd quarter of 2015, enterprises sold goods and services for 12.4 billion euros, which was 2% less than in the same period a year ago. The turnover of trade enterprises having the biggest share in the total turnover of the business sector stayed on the level of the previous year, influenced mostly by a decrease in the turnover of wholesale trade. At the same time, the turnover of retail trade and motor trade continued to grow. The turnover of manufacturing enterprises decreased 3%.

Compared to the 3rd quarter of 2014, the total costs of enterprises decreased 3%, while personnel expenses increased 7%. The number of persons employed as well as the number of hours worked increased 2%. The labour productivity of the business sector on the basis of value added amounted to an average of 5,800 euros per person employed per quarter, i.e. 5% more than in the 3rd quarter of 2014.

The investment activity of enterprises continues to be at a low level. In the 3rd quarter of 2015, enterprises invested 578 million euros, which was 6% less than in the same period the year before. Compared to the corresponding quarter of the previous year, investments continued to decrease for the second year in a row. The largest investments were made mainly in buildings, and machinery and equipment. The main investors were manufacturing, energy, trade and real estate enterprises, with more than a half of the total investments of enterprises. Compared to the 3rd quarter of 2014, only the investments in the acquisition of buildings and in machinery and equipment increased. Other investments decreased, with the biggest decrease registered in investments in vehicles.

Diagram: Total profit of the business sector, 1st quarter 2010 – 3rd quarter 2015

Source: Statistics Estonia

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: