Estonia’s GDP totalled EUR 37.7 billion at current prices in 2023, which was down 3% from 2022, according to data from Statistics Estonia, ERR reported. Robert Müürsepp, national accounts team lead at Statistics Estonia, said that Estonia’s economy was in broad-based recession in 2023, with decline recorded in most major sectors. Information and communication had…
Estonia’s state-owned railway company, Eesti Raudtee (EVR), transported 10mn tonnes of cargo in 2023, which was 43% less than in 2022, ERR reports. The volume of transit freight totalled 2.1mn tonnes in 2023, compared to 9.5m tonnes in 2021. EVR’s commercial director, Arthur Raichmann, said that the biggest commodity groups were shale oil from Estonia…
The total production of industrial enterprises in Estonia declined by 10.5% in 2023 at constant prices compared to 2022, according to Statistics Estonia’s data, ERR reports. Output decreased in all three industrial sectors, including in energy production by 21%, in manufacturing by 9.8%, and in mining and quarrying by 4.7%. Production volumes fell every month…
Estonian political parties received more than EUR 4.9mn in private donations in 2023, according to data from the Political Parties Financing Surveillance Committee (ERJK), ERR reported. The total does not include donations made to the Conservative People’s Party of Estonia (EKRE) in the fourth quarter of 2023, however. The opposition Fatherland (Isamaa) party received altogether…
The speakers of the parliaments of the three Baltic States visited Canada and the US to discuss regional security issues and cooperation, BNS reported. They met with with the speaker of Canada’s House of Commons, Greg Fergus, and members of the Canada-Nordic-Baltic Parliamentary Friendship Group. In the US, the Baltic speakers met with the speaker…
Lithuania’s Vilnius City District Court has approved a request from the European Public Prosecutor’s Office (EPPO) to arrest Sarunas Stepukonis, former partner at Estonia-registered BaltCap Infrastructure Fund (BInF), BNS reports. Stepukonis is suspected of embezzling at least EUR 27mn from the fund. His current whereabouts are unknown. BaltCap has sued Stepukonis and casino operator Olympic…
Estonia’s retail turnover totalled EUR 10.5bn in 2023, which was down 8% at constant prices compared to 2022, according to preliminary data from Statistics Estonia, ERR reports. The retail turnover of grocery stores declined by 4%, automotive fuel by 5%, and manufactured goods by 11% over a year.
An investigation into the outage of the EstLink 2 power interconnection between Estonia and Finland has so far found no “intentional external damage” in the undersea cable, Estonian transmission system operator Elering announced, ERR reports. The exact location of the fault and the specific cause of the outage remain to be determined, however. Finnish transmission system operator…
Estonia’s real GDP will continue to decline by 0.3% in 2024 but will increase by 2.8% in 2025, according to Swedbank’s latest macroeconomic forecast, ERR reports. The bank expects the current recession in Estonia to end in the middle of 2024. Moderate growth will return in 2025, driven by stronger domestic demand and exports. Annual…
