Jobbatical enables to find a short-term job in abroad

Estonian woman Karoli Hindriks has invented “a company that blends the concept of a job and a sabbatical, matching employers and talent for short-term jobs that might involve sending a software developer from Sweden to Thailand for a three-month jobbatical”.

One of the lucky ones was to get a job through jobbatical was Björn Lapakko from Minnesota, USA.

‘I wasn’t really looking for anything at the time but at the same time I wasn’t 100 per cent happy,’ he recalls. ‘One day, my intern suggested that I check out this website, Jobbatical.’

All of a sudden, his lifelong dream to come to Europe, not just as a backpacker but as someone who could contribute to the economy and sustain a lifestyle, became a more tangible possibility. Previously, he had applied for a few positions in Europe but when his US citizenship came up, he was promptly removed from the running. ‘Jobbatical offers a unique job hunting platform being from another country is never a shock to employers… they actually embrace it.’

Matching talented people who want to take a break from their ordinary jobs with companies who are looking for helping hands for specific projects around the world is the shorthand description of what Jobbatical does. Over its first year, 1 200 companies across 40 countries have used Jobbatical and 7 000 job applications have yielded over 300 job matches.

Read more about the company from investinestonia.com

Jobbatical

The production of manufacturing increased in February

According to Statistics Estonia, in February 2016, the production of industrial enterprises decreased 2% compared to February of the previous year. Production decreased in electricity and mining, while the production of manufacturing increased.

In February, manufacturing production increased 1% compared to February of the previous year. The growth in production was mostly caused by an increase in the manufacture of wood products, electrical equipment and furniture. The production growth was broad-based – production surpassed the volume of the previous year in three-fourths of the branches of industry. Among the branches of industry holding larger shares, production continued to fall in the manufacture of electronic, metal and food products.

71% of the whole production of manufacturing was sold on the external market in February. Compared to February 2015, the export sales of manufacturing production rose 2% and domestic sales 4% according to unadjusted data.

In February 2016 compared to January, the seasonally adjusted total industrial production remained on the level of the previous month; production in manufacturing rose by 5%.

Compared to February 2015, the production of electricity decreased by 20% and the production of heat increased by 2%. The decline in electricity generation was caused by the partial replacement of own production with cheaper imports.Diagram: Volume index of production in manufacturing and its trend

Read more from Statistics Estonia

The turnover of retail trade enterprises was 437.4 mEUR in February

According to Statistics Estonia, in February 2016 compared to February 2015, the turnover of retail trade enterprises increased 5% at constant prices. While in January, the turnover increased 8% compared to the same month of the previous year, then in February the growth decelerated to some extent.

In February 2016, the turnover of retail trade enterprises was 437.4 million euros.

The turnover of stores selling manufactured goods increased 10% compared to February 2015. Turnover increased in all economic activities. Turnover increased the most in stores selling pharmaceutical goods and cosmetics, where sales increased by a fifth compared to the same month of the previous year. A higher than average increase in turnover occurred in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (15% growth), in stores selling household goods and appliances, hardware and building materials (13% growth) and sale via mail order or the Internet (11% growth).

The turnover in grocery stores increased 7% compared February 2015.

The turnover of enterprises engaging in the retail sales of automotive fuel, which showed a strong growth in January, turned to a fall in February and decreased 8% at constant prices compared to February of the previous year.

Compared to the previous month, in February, the turnover of retail trade enterprises decreased 9% at constant prices. According to the seasonally and working-day adjusted data, the decrease was 3%.Diagram: Turnover volume index of retail trade enterprises and its trend

In 2016, Statistics Estonia started to use only the VAT declaration data of the Estonian Tax and Customs Board and stopped data collection with the questionnaire “Turnover”. This will reduce the response burden of entrepreneurs and Statistics Estonia’s expenditure on data collection, and increase the use of administrative data. Due to the change in the data source, the monthly news release “Retail trade” will focus on the turnover of retail trade enterprises, instead of the retail sales of such enterprises. Statistics Estonia will continue publishing the retail sales indicator of retail trade enterprises on a quarterly and yearly basis. Statistics Estonia published the monthly summary in three working days.

Source: Statistics Estonia

The price of Maardu manor was lowered to 1.49 million euros

The Executive Board of Eesti Pank decided to lower the price of the Maardu manor property, which was put up for sale a year ago, from 2 million euros to 1.49 million euros.

“There was interest in buying the manor, but it seems that 2 million euros was not the right price. We are still interested in selling Maardu manor, as we use it only rarely. Owning the Maardu manor property does not fit with the principles of an efficient organisation,” said Eesti Pank Governor Ardo Hansson.

Eesti Pank first put Maardu manor up for sale in February 2015. An earlier obstacle to the sale of Maardu manor was that it was surrounded by unreformed state land that could not be sold. Eesti Pank started the process of registration in autumn 2013 and it was completed in January 2015. The central bank discussed Maardu manor with the Ministry of Finance and the national property office, but it became clear that the state had no interest in buying the property.

Eesti Pank purchased the Maardu manor property in 1993 and renovated it thoroughly over the years.

In autumn 2013 Eesti Pank sold a property with two buildings in Kuressaare for 550,000 euros to Arensburg OÜ, which runs the Arensburg Hotel near to the former central bank property. The private owner managed to make the property operate successfully and brought new jobs to Saaremaa.

After selling Maardu manor, the central bank will only own the buildings at Estonia puiestee in Tallinn.

Eesti Pank took tenders from four real estate companies to act as advisers for the sale of the manor property, and chose the real estate company Colliers International Advisors.

Source: Bank of Estonia

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The prices of apartments increased by 7.2 pct in a year

According to Statistics Estonia, the Dwelling Price Index increased by 6.9% in 2015 compared to the average of 2014. In the annual comparison, the prices of apartments increased by 7.2% and the prices of houses by 6.3%.

The annual change of the Dwelling Price Index was 8.5% in 2011, 7.3% in 2012, 10.7% in 2013 and 13.7% in 2014.

In the 4th quarter of 2015 compared to the 3rd quarter, the Dwelling Price Index increased by 0.8% and compared to the 4th quarter of 2014 by 5.1%.

In the 4th quarter of 2015 compared to the previous quarter, the prices of apartments increased by 1.1% and the prices of houses increased by 0.1%. The prices of apartments increased in all three areas under observation: by 1.2% in Tallinn and by 1.1% both in areas bordering Tallinn and in Tartu and Pärnu cities and in the rest of Estonia.

Compared to the 4th quarter of 2014, the prices of apartments have increased by 7.1% and the prices of houses by 0.6%. The prices of apartments increased in all three areas under observation: by 6% in Tallinn, by 12.1% in areas bordering Tallinn and in Tartu and Pärnu cities and by 3.1% in the rest of Estonia.

The Dwelling Price Index expresses the changes in the transaction square metre prices of dwellings purchased by households. The Dwelling Price Indices have been compiled for apartments and houses (including detached, semi-detached and terraced houses).

Diagram: Dwelling Price Index, change over previous year, 2006–2015

The Owner-Occupied Housing Price Index increased by 6.9% in 2015 compared to the average of 2014.

In the 4th quarter of 2015, the Owner-Occupied Housing Price Index changed by -0.4% compared to the 3rd quarter and by 2.9% compared to the 4th quarter of 2014.

The Owner-Occupied Housing Price Index expresses the changes in the prices of the acquisition of dwellings new to the household sector and other goods and services that households purchase in their role as owner-occupiers. The index consists of four parts: the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.

The Owner-Occupied Housing Price Index is published on the base 2010 = 100. The time series starts from the 1st quarter of 2005; major repairs and maintenance are included from the 1st quarter of 2007 and insurance connected with dwellings is included from the 1st quarter of 2012. The annual index is calculated as the average of four quarters.

Source: Statistics Estonia

The carriage of goods declined in 2015

According to Statistics Estonia, in 2015, the number of passengers served by Estonian transport enterprises remained on the same level but the freight volume in tonnes decreased by 13% compared to the previous year. Passenger traffic volume increased by 10% and freight turnover increased by 7% compared to 2014.

In 2015, the number of passengers carried by Estonian transport enterprises amounted to 211.6 million. 92.4% of these passengers were carried by road, 4.1% by sea, 3.1% by rail and 0.3% by air. In 2015, the passenger traffic volume of road transport enterprises was 6 billion passenger-kilometres.

The amount of passengers that used road transport remained the same as in 2014. There were 195.6 million passengers in total and 86% of them, i.e. about 167.5 million passengers, used urban transport (i.e. buses, trams and trolleybuses). The number of passengers using county lines was about 16.5 million (3% less compared to 2014). National non-scheduled transport was used by 4.4 million passengers (down by 12%). The number of passengers was 4.1 million on domestic highway lines (down by 8%) and 1.3 million passengers on international lines (up by 60%). In 2015, the passenger traffic volume was 3.2 billion passenger-kilometres. The passenger traffic volume of road transport enterprises increased in domestic traffic and in international traffic, respectively by 16% and by 56%.

In 2015, Estonian sea transport enterprises carried 8.7 million passengers, which is as much as in 2014. The number of passengers carried was 2.3 million in domestic sea traffic and 6.4 million in international sea traffic. The passenger traffic volume of sea transport enterprises decreased by 8% and was nearly 1.1 billion passenger-kilometres in 2015. International sea traffic amounted to 98% of passenger traffic volume.

Last year 6.6 million passengers were carried by rail, which is 12% more than in 2014. 6.5 million passengers were carried in domestic rail traffic (up by 13%) and 55,100 passengers were carried in international rail traffic (down by 43% compared to 2014).The passenger traffic volume of rail transport enterprises increased by 4% and was 292.1 million passenger-kilometres.
In 2015, Estonian air transport enterprises carried 669,600 passengers. This is 13% less than in 2014. 19,400 passengers were carried in domestic air traffic (up by 9%) and 650,200 passengers were carried in international air traffic (down by 14%). The passenger traffic volume of air transport enterprises increased by 2% and was 1.5 billion passenger-kilometres in 2015.

In 2015, 65.7 million tonnes of goods were carried by Estonian transport enterprises, of which nearly 55% was carried by road, 43% by rail and 2% by sea.

Freight turnover of Estonian transport enterprises totalled 11.4 billion tonne-kilometres in 2015.

Road transport companies carried nearly 36.3 million tonnes of goods in 2015, which is 3% less than in 2014. 26.2 million tonnes of goods were transported in domestic road traffic and 10.1 million tonnes in international traffic. Freight turnover increased by 15% compared to 2014 and totalled 7.9 billion tonne-kilometres.

In 2015, the amount of goods carried by rail was 23% smaller than the year before, amounting to 28 million tonnes. 15 million tonnes of goods were transported in domestic rail traffic (down by 25%) and 13 million tonnes in international traffic (down by 20%). Compared to 2014, freight turnover decreased by 4% and amounted to 3.1 billion tonne-kilometres.

Estonian sea transport enterprises carried 1.4 million tonnes of goods in 2015, which is 11% less than in 2014. Compared to 2014, the freight turnover in sea transport decreased by a fifth and amounted to 331 million tonne-kilometres.

Estonian air transport enterprises carried 4,400 tonnes of cargo and the freight turnover was 2.2 million tonne-kilometres in 2015. Compared to 2014, there was 52% more cargo transported and freight turnover increased by 27%. Among the cargo transported by air, the carriage of postal shipments increased, but carriage of goods decreased.

Carriage of passengers and goods by transport enterprises, 2015
Passengers, millions Passenger traffic volume, billion pkm Freight, million tonnes Freight turnover, billion tkm
Total 211,6 6,0 65,7 11,4
Road transport 195,6 3,2 36,3 7,9
..urban transport 167,5 0,9
Rail transport 6,6 0,3 28,0 3,1
Sea transport 8,7 1,1 1,4 0,3
Air transport 0,7 1,5 0,0 0,0

– magnitude nil

The data of Estonian transport enterprises are collected and published according to the enterprise’s principal activity. The enterprise’s principal activity is determined based on the Estonian Classification of Economic Activities (EMTAK (NACE)): land transport (rail and road), water transport and air transport.

Road transport of passenger includes bus, trolley bus and tram transport. Urban transport include passenger transport traffic of buses, trams and trolley buses.

Passenger traffic volume is the volume of work done in the transport of passengers. It is measured in passenger-kilometres (pkm). One passenger-kilometre is the transport of one person across a distance of one kilometre.

Freight turnover is the volume of work done in the transport of goods. It is measured in tonne-kilometres (tkm). One tonne-kilometre is the transport of one tonne of goods across a distance of one kilometre.

Source: Statistics Estonia

Estonian gross debt level is 9.7 pct of GDP

According to the preliminary data of Statistics Estonia, in 2015, the Estonian general government surplus was 0.4% and the gross debt level was 9.7% of the gross domestic product.

At the end of 2015, the total revenues of the general government exceeded the expenditures by 84.1 million euros, accounted as the Maastricht deficit criteria. By the end of 2015, the surplus of revenues of the central government sub-sector was 12.7 million euros. The consolidated budget of the local government sector was 47.6 million euros in surplus. The budget surplus of social security funds was 23.9 million euros, which is considerably smaller than in previous years.

The consolidated debt of the general government (Maastricht debt) amounted to 2 billion euros by the end of 2015, having fallen 4% compared to 2014. The local governments as well as the central government contributed to the fall of the debt level. At the end of 2015, the debt of the central government sub-sector totalled 1.4 billion euros and the local governments’ debt accounted for 0.7 billion euros. As in previous periods, social security funds did not contribute to the debt of the general government sector.

The loan liabilities of the central government decreased by 4% and the volume of long-term securities issued by the public-legal institutions and foundations belonging to the central government decreased by 6%. The share of foreign debt in the central government’s loan liabilities was 85%.

The Estonian involvement in the European temporary rescue mechanism, EFSF (European Financial Stability Facility) decreased by 30 million euros in 2015. At the end of 2015, liabilities towards the EFSF totalled 454.6 million euros, 79% of which went for the participation in the rescue package for Greece, 12% for Portugal and 9% for Ireland.

The overall debt level of the local governments fell by a little over 3% compared to 2014. While the volume of long-term securities decreased by nearly one-fifth over the year, the liabilities of short-term as well as long-term loans increased. Liabilities towards the rest of the world accounted for nearly 22% of the local governments’ debt.Diagram: Surplus/deficit and debt level of the general government in Estonia, 2007–2015

In Estonia, the general government sector comprises three sub-sectors: 1) central government (state budget units and extra-budgetary funds, foundations, legal persons in public law); 2) local governments (city and rural municipality governments with their subsidiary units, foundations); 3) social security funds (Estonian Health Insurance Fund, Estonian Unemployment Insurance Fund).

Source: Statistics Estonia