Estonia’s GDP continued to decline by around 3% in the second quarter of 2023, according to Statistics Estonia’s flash estimate. The drop in GDP has slowed down slightly compared to previous quarters, however. Compared to the first quarter of 2023, the country’s GDP remained unchanged, according to seasonally and working-day adjusted data.
Annual inflation in Estonia stood at 6.3% in July 2023, which was down from 22.8% a year earlier, according to Statistics Estonia’s preliminary data, ERR reports. Compared to June 2023, consumer prices declined by 0.39%. In June 2023, annual inflation stood at 9.2%.
Estonian capital Tallinn’s water supplier, Tallinna Vesi, generated sales of EUR 30.01mn in the first half of 2023, which was up 19.8% from EUR 25.05mn in the same period of 2022, GlobeNewswire reports. The company’s gross profit amounted to EUR 11.52mn (up 30.8%), operating profit to EUR 8.20mn (up 34.7%), and net profit to EUR…
Estonian consumers made purchases using payment cards, both home and abroad, for a total sum of around EUR 2.5bn in the second quarter of 2023, which was up 5.3% from a year earlier, according to data from the Bank of Estonia, ERR reports. Compared to the first quarter of 2023, card payments rose by 15.2%….
Estonia’s Bigbank posted a net profit of EUR 17.0mn in the first half of 2023, which was up 21% from EUR 14.1mn in the same period of 2022, GlobeNewswire reports. Net interest income amounted to EUR 46.7mn (EUR 39.7mn) and net fee and commission income to EUR 4.0mn (EUR 3.6mn). In the second quarter of…
Estonian media group Ekspress Grupp posted revenue of EUR 35.3mn in the first half of 2023, which was up 18% from EUR 29.8mn in the same period of 2022, GlobeNewswire reports. Digital revenue rose by 28%, accounting for 82% (76%) of total revenue. Ekspress Grupp had 175,400 digital subscribers at the end of June 2023,…
Estonia’s retail trade turnover fell by 9% in the first half of 2023 from a year earlier at constant prices, according to data from Statistics Estonia, ERR reports. In June 2023, retail trade turnover totalled EUR 896mn, which was down 8% over a year. Retail sales in stores selling manufactured goods fell by 12% over…
Estonia’s largest security firms increased their turnover and profit in 2022, ERR reports. G4S Eesti’s revenue totalled EUR 59.5mn in 2022, which was up 6% from 2021. The company’s annual profit amounted to EUR 1.9mn, which was up from a loss of EUR 300,000 a year earlier. G4S Eesti employed 1,880 people in 2022. Retail…
The Estonian shipping group, Tallink Grupp, posted unaudited revenue of EUR 400.9mn in the first half of 2023, which was up 28.4% from EUR 312.2mn in the same period of 2022, GlobeNewswire reports. Six-month EBITDA amounted to EUR 95.6mn (EUR 17.7mn) and net profit to EUR 28.0mn (EUR 40.7mn). In the second quarter of 2023,…