Dwelling Price Index increased in 3Q

According to Statistics Estonia, in the 3rd quarter of 2017, the Dwelling Price Index changed by 3.4% compared to the 2nd quarter of 2017 and by 4.7% compared to the 3rd quarter of 2016.

Compared to the previous quarter, the prices of apartments increased by 3.5% and the prices of houses by 2.9%.

Compared to the 3rd quarter of 2016, the prices of apartments have increased by 4.2% and the prices of houses by 6.2%.The prices of apartments increased by 3.6% in Tallinn, by 4.4% in areas bordering Tallinn with Tartu and Pärnu cities, and by 6.7% in the rest of Estonia.

The Dwelling Price Index expresses the changes in square metre prices of transactions made by households for the purchase of dwellings. Dwelling Price Indices are compiled for apartments and houses (detached, semi-detached and terraced houses).Dwelling Price Index, 1st quarter 2005 – 3rd quarter 2017 (2010 = 100)

In the 3rd quarter of 2017, the Owner-Occupied Housing Price Index changed by 6.4% compared to the 2nd quarter of 2017 and by 2.2% compared to the 3rd quarter of 2016.

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.

For the statistical activity “Dwelling price index and owner-occupied housing price index”, the main representative of public interest is the Ministry of Finance commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

Source: Statistics Estonia

The turnover of retail trade enterprises fell in November

According to Statistics Estonia, in November 2017, compared to November 2016, the turnover of retail trade enterprises decreased 1% at constant prices. The decrease in turnover was affected the most by enterprises engaged in the retail sales of automotive fuel.

In November 2017, the turnover of retail trade enterprises was 558 million euros. The decrease in turnover was affected the most by enterprises engaged in retail sales of automotive fuel, where sales decreased 9% compared to November 2016. The turnover fall of these enterprises was impacted by considerably faster price increase of automotive fuel in November. While in October petrol was 7.5% and diesel fuel 9% more expensive in year-on-year comparison, in November both petrol and diesel fuel were 16% more expensive.

The turnover of grocery stores decreased 3% compared to November 2016. The turnover fall of these stores was affected by the continuing price increase of food products.

The turnover of stores selling manufactured goods increased 5% compared to November 2016. Turnover increased in most economic activities, except in other specialised stores selling mainly computers and their accessories, books, sports equipment, games, toys etc. where turnover was smaller than in November 2016. Turnover increased the most in stores selling via mail order or the internet, with sales increasing 28% in a year. A higher than average increase in turnover occurred also in stores selling household goods and appliances, hardware and building materials (12%) and in stores selling textiles, clothing and footwear (8%).

Compared to October 2017, in November the turnover of retail trade enterprises decreased 4%. However, according to the seasonally and working-day adjusted data, turnover stayed at the same level as in the previous month.

In the eleven months of 2017 (January–November), the turnover of retail trade enterprises increased 1.5% compared to the corresponding period of the previous year.

Turnover volume index of retail trade enterprises and its trend, January 2007 – November<br>2017 (2010 = 100)

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in three working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

Production of industrial enterprises increased 3pct in November

According to Statistics Estonia, in November 2017, the production of industrial enterprises increased 3% compared to November 2016. Production increased in mining and quarrying and manufacturing, but decreased in the energy sector.

In November, manufacturing production was 4% higher compared to the corresponding month of 2016. The growth in production was mostly due to an increase in the manufacture of wood products, food products, machinery, metal products and electrical equipment. Production increased considerably also in the manufacture of motor vehicles. Among the branches of industry with larger shares, production fell in the manufacture of electronic equipment.

In November, 67% of the total manufacturing production was sold to the external market. According to unadjusted data, sales of manufacturing production for exports increased 4% and sales to the domestic market increased 9% compared to November 2016.

In November 2017, the seasonally adjusted total industrial production as well as production in manufacturing decreased 1% compared to the previous month.

Compared to November 2016, the production of electricity decreased 9% and the production of heat decreased 11%.

Volume index of production in manufacturing and its trend, January 2008 – November 2017 (2010 = 100)

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