According to Statistics Estonia the consumer price index of October is 1,5% higher than that one year ago. At the same time housing expenses have increased as much as 8% in one year. By today, in comparison with the year 1997, the consumer expenses have almost doubled and the housing expenses have increased 3,2 times….
Estonian economy
According to a recent report on the Statistics Estonia site, economic growth in Estonia grew by two per cent y-o-y to Q2 2012. However, GDP only grew by 0.4 per cent, when seasonal and work-day factors are taken into account, between Q1 and Q2. Most of the growth came from the construction, information and communication…
According to a recent article in the Estonian Press Digest from News2Biz, July 2012 saw something of a fall in real estate prices in Estonia as a whole, but at the same time real purchasing power (in Tallinn) for those wishing to purchase property also fell. Citing real estate giant Pindi Kinnisvara‘s index as falling…
Notwithstanding national air carrier Estonian Air’s muhc-publicised financial problems, according to a recent report on the Baltic Busines News site, the airline has carried 52 per cent more passengers as of the end of July 2012 than at the same stage during the preceding year. At the same time, the number of passengers taking regular flights from…
According to a report by Tõnu Toompark on his adaur blog, investment in real estate in Estonia has increased by 24 per cent y-o-y to the first quarter of 2012. Citing figures from the Estonian Statistics office, investments from Estonian companies into plant and equipment fixed assets came to a value of 506 million Euros in…
More hopeful signs of economic recovery in Estonia comes with a recent report on the Statistics Estonia site which states that retail sales in Estonia increased by seven per cent y-o-y to June 2012. Furthermore this trend has been continuing since March 2012; every month between March and June saw an increase in retail sales…
Bond credit raters Moody’s Investor Services have affirmed Estonia’s A1 government bond rating and stable outlook. As reported on this blog, Fitch had already upped Estonia’s rating to A+, so this is more good news. The rating was based on factors including the Estonian government’s budgetary rigour and financial strength during the continuing crises of the 2008-10…
An item first published on this blog on 6th July, 2012. An interesting and detailed post here, from the redoubtable Edward Hugh, about one of the two other CEE countries, apart from Estonia, that have acceded to the Eurozone, namely Slovenia (the third country is Slovakia). Having consistently outperformed Estonia and even ‘older’ Eurozone countries…
According to Tõnu Toompark on his adaur blog, 96 per cent of residential dwelling space in Estonia is in private hands. The total number of residential items comes to 657 800 units, only a small increase on the last 12 years, with only three per cent of dwellings owned by local governments and one per…
An article first published on this blog on 11th July, 2012. As we previously blogged about, the electricity market in Estonia, hitherto having been a state monopoly, is due to be open to the market come January 2013, with all the pros and cons that this entails (our previous article lists some of these if…