Many Estonian companies continue doing business with Russia, ERR reports. Altogether 500-600 Estonian businesses still trade goods with Russia. The total value of goods exported from Estonia to Russia has not changed since Russia’s full-scale invasion of Ukraine in 2022, when it amounted to EUR 50-70mn per month. This is partly due to the rise…
Estonia’s GDP totalled EUR 9.42bn at current prices in the the second quarter of 2023, which was up 5.1% from the same period of 2022, according to data from Statistics Estonia, ERR reports. Real GDP fell by 2.9% over a year, however. Compared to the first quarter of 2023, seasonally adjusted real GDP decreased by…
Estonia’s producer price index (PPI) of industrial output fell by 3.2% on year in July 2023, according to Statistics Estonia’s data, ERR reports. Compared to June 2023, the PPI fell by 1.0%. Producer prices fell by 1.1% over a year in manufacturing but rose by 5.8% in food production. Export prices declined by 3.0% and…
Estonia’s current account deficit stood at EUR 20.1mn in June 2023, compared to a deficit of EUR 92.4mn in June 2022, according to the Bank of Estonia’s flash estimate, ERR reports. Exports and imports of goods both fell by 10%, while service exports rose by 3% and imports by 2% over a year. The services…
Latvia’s foreign trade turnover totalled EUR 21.39bn at current prices in the first half of 2023, which was down EUR 963.9mn (4.3%) from the corresponding period of 2022, according to provisional data from the Central Statistical Bureau, LSM reports. The total value of exports amounted to EUR 9.62bn (down 4.5%) and of imports to EUR…
Estonia’s goods exports totalled EUR 4.8bn in the second quarter of 2023, which was down 11% from the same period of 2022, according to Statistics Estonia’s data, ERR reports. Imports totalled EUR 5.6bn, which was down 15% over a year. Estonia’s trade deficit thus stood at EUR 802mn, which was down by EUR 329mn from…
Latvia’s timber industry exports totalled EUR 1.4bn in the first five months of 2023, which was down more than 20% from nearly EUR 1.9bn in the same period of 2022, according to data from the Ministry of Agriculture, LSM reports. Exports of wood and wood products amounted to EUR 1.3bn (down 20%), sawn timber to…
Estonia’s producer price index (PPI) of industrial output fell by 1.9% on year in June 2023, according to Statistics Estonia, ERR reports. Compared to May 2023, the PPI dropped by 0.4%. The biggest impact on the index came from a fall in the price of electricity production and in the manufacture of wood products and…
Latvia’s Ministry of Agriculture has proposed that a reduced VAT rate on fresh fruit, berries, and vegetables should remain in place in 2024 as well, Baltic News Network reports. The ministry’s report showed that fruit and vegetable farms in Latvia expanded more rapidly than in other EU countries in 2017-2022. At the same time, imports…