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…
The municipal government of Estonia’s second-largest city, Tartu, is considering introducing new time restrictions on the sale of alcoholic beverages, ERR reports. The city council will discuss possible restrictions in October 2023. In spring 2023, the municipality agreed with most nightclubs in the city to close their doors half an hour earlier in summer. However,…
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…
The number of non-cash payments in Latvia totalled 394.2mn in the first half of 2023, which was 10% more than in the same period of 2022, the Bank of Latvia reported. The total value of non-cash payments amounted to EUR 150.7bn, which was up 26% from a year earlier. The average number of payments was…
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…
Estonia should strengthen cooperation with Taiwan and consider opening a Taiwanese representative office (Taipei Mission) in Tallinn, Marko Mihkelson, chairman of the foreign affairs committee of the Estonian parliament, the Riigikogu, stated, ERR reports. Speaking after a joint visit by the heads of the foreign affairs committees of Baltic parliaments to Taiwan, Mihkelson noted that…
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…
Estonia should prioritise trade with free democratic societies, where the political risk is smallest, Estonian MEP Urmas Paet (Reform/Renew Europe), deputy chairman of the European Parliament’s foreign affairs committee, argues. Writing in an opinion piece for ERR, Paet criticised Estonia’s state-run export promotion agency, Enterprise Estonia, for advocating closer economic ties with Vietnam, which has…