Analytics, Business, Estonia, Financial Services, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Friday, 26.04.2024, 17:21
The profit of the business sector in Estonia decreased by 8% in Q3
Compared to the 3rd quarter of 2016, total profit
decreased in most economic activities.
Construction, agricultural and manufacturing
enterprises made the biggest contribution to the total profit of the business
sector. The growth in the sector’s profit was negatively affected mainly by
wholesale and real estate enterprises.
In the 3rd quarter of 2017, enterprises sold goods and
services for 13.9 billion euros, i.e. 10% more than in the same period of the
previous year. The turnover of trade and manufacturing enterprises, which have
the biggest share in the total turnover of the business sector, increased 7%
and 5%, respectively. The biggest increase occurred in the turnover of
enterprises specialising in water supply, sewerage, waste management and
remediation activities.
Compared to the same period a year before, the total
expenditure of enterprises increased 11%, including a 9% increase in personnel
expenses. The number of persons employed increased 3% and the number of hours
worked 2%. Labour productivity of the business sector on the basis of value
added amounted to an average of 5,800 euros in a quarter per person employed,
staying the same as in the 3rd quarter of 2016.
In the 3rd quarter of 2017, enterprises invested 477
million euros, which was 2% less than in the same period the year before. The
investments were made mostly in machinery and equipment, and buildings. The
main investors were manufacturing, energy, trade, and transportation and
storage enterprises, accounting for more than a half of the total investments
of all enterprises. Compared to the 3rd quarter of 2016, investments in
buildings, computers, and equipment and machinery increased. Investments in transport
equipment and land decreased.
The statistics are based on the questionnaire
“Economic activity, quarter”, the submission date of which was 21 October 2017.
Statistics Estonia published the quarterly summary in 26 working days. For the
statistical activity “Financial statistics of enterprises (quarterly)”, the
main representative of public interest is the Ministry of Economic Affairs and
Communications, commissioned by whom Statistics Estonia collects and analyses
the data necessary for conducting the statistical activity.