Posts tagged as Estonia

Estonian exports increased by 16 percent in February

Friday, April 9, 2021

In February, exports of goods increased by 16 percent and imports by 10 percent year on year, data from Statistics Estonia shows. The growth in foreign trade was significantly boosted by trade in mineral products and wood and articles of wood. In February, Estonia’s exports and imports of goods each amounted to 1.3 billion euros at current prices. The trade deficit was €73 million, having fallen by €49 million compared…

Wise co-founder: Estonia needs changes in political landscape to improve

Thursday, April 8, 2021

A recent €50,000 donation from technological companies to Estonian parties stems from a desire to see change in the political landscape as that is the way to improve the country, said Transferwise ( now known as Wise – ed) co-founder Taavet Hinrikus. Hinrikus told ETV’s political interview show “Esimene stuudio” that parties tend to receive donations from either fanatics or people who hope to see change. Technology companies, who recently…

Electricity had biggest impact on consumer price index in March in Estonia

Thursday, April 8, 2021

Electricity prices were rose by 18.3 percent last month compared to March 2020, which had the biggest impact on the Estonian consumer price index. In March 2021, the consumer price index fell by 0.2 percent compared to February and rose by 1.1 percent compared to March 2020, data from Statistics Estonia shows. Goods were 0.5 percent and services 2 percent more expensive than in March last year. Viktoria Trasanov, leading…

Estonian Unemployment Insurance Fund starts paying out wage compensation

Wednesday, April 7, 2021

The Estonian Unemployment Insurance Fund on Wednesday started executing payouts of the wage compensation made available by the government to the sectors worst affected by the new restrictions. On Wednesday, payouts were made to the first 5,400 employees. The average size of the compensation per person was €670 gross and the total gross amount of the compensations was close to €3.7 million. The majority of the applications granted as first…

Domestic tourists keeping Estonian tourism industry in business

Wednesday, April 7, 2021

In February, Estonian accommodation establishments served nearly 100,000 tourists who spent 187,000 nights in total, data from Statistics Estonia shows. The number of visitors dropped by 57 percent compared to February 2020. Analyst at Statistics Estonia Helga Laurmaa said most of the accommodated guests were domestic tourists and only 13 percent were foreign tourists. “Year on year, the number of foreign tourists fell by 90 percent and the number of…

Estonia to restrict wind farm developments

Tuesday, April 6, 2021

The Supreme Court has decided that it is permissible to restrict wind farm developments following national defense considerations. The court found no unconstitutional aspects in legal acts Toila Rural Municipality relied on when refusing a wind farm construction permit. At the heart of the matter was the decision of the Toila Rural Municipality to refuse a building permit for the Päite-Vaivina wind farm. Est Wind Power OÜ applied for a…

Estonian Finance ministry estimates 2.5 percent economic growth for 2021

Monday, April 5, 2021

The Ministry of Finance estimates Estonia’s economic growth for the ongoing year to stand at 2.5 percent and 4.6 percent for 2022, if the spread of COVID-19 is under control and vaccinations proceed to go forward as planned. Minister of Finance Keit Pentus-Rosimannus (Reform) said the coronavirus economic crisis was shorter and more lenient than feared. “Coming out of an unprecedented budgetary hole requires long-term effort and an iron will,”…

Record stock exchange year brought out small investors and new companies in Estonia

Monday, April 5, 2021

The Estonian arm of Nasdaq’s Baltic services saw its record for the number of transactions crushed over the last year, leading to an influx of small investors and Estonian companies taking themselves to the public market. In 2020, the number of transactions on Nasdaq Tallinn’s exchange grew more than fivefold. The number of accounts with at least one stock registered also grew: from 37,000 in 2019 to 45,000 by the…

Estonian IT and foreign trade minister: Need to avoid overemphasis on protectionism

Monday, April 5, 2021

Estonia should be mindful of evolving attitudes to foreign trade, both within the European Union and within the framework of the World Trade Organization (WTO), as well as other contexts, Minister for Foreign Trade and IT Andres Sutt (Reform) says. This should strike a balance on focus on the union and that of third countries – a phrase used regularly in Estonia to refer to non-EU nations of all kinds…

Estonian government approves €46-million COVID-19 support for regions

Monday, April 5, 2021

The government has approved €46-million in local support, which puts a particular emphasis on Ida-Viru County. The cabinet approved the move at its regular Thursday sitting and endorsed the terms and conditions of the aid, which comes as part of the supplementary budget passed last month in response to the ongoing coronavirus pandemic, the second of its kind since the virus arrived over a year ago. Minister of Public Administration…