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Thursday, 25.04.2024, 09:15
The profit of Estonian business sector decreased by 5% in Q1
Compared to the 1st quarter of 2017, total profit decreased in most economic
activities. Transportation and storage, agriculture, forestry and fishing and
energy 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 trade enterprises and enterprises specialising in administrative and
support service activities.
In the 1st quarter
of 2018, enterprises sold goods and services for 13.7 billion euros, i.e. 8%
more than in the same period the year before. The biggest year-on-year increase
occurred in the turnover of real estate enterprises. The turnover of trade and
manufacturing enterprises, which have the biggest share in the total turnover
of the business sector, increased respectively by 4% and 7% compared to the 1st
quarter of 2017.
Compared to the
same quarter of the previous year, the total expenditure of enterprises
increased by 9%, including an 8% increase in labour costs. The number of
persons employed increased by 2% and the number of hours worked by 1% in a
year. Labour productivity of the business sector on the basis of value added
amounted to an average of 5,500 euros in a quarter per person employed, i.e. 3%
more than in the 1st quarter of 2017.
In the 1st quarter of 2018, enterprises invested 490
million euros, which is 15% less than in the same period the year before. The
investments were made mostly in machinery and equipment and in buildings. The
main investors were real estate, manufacturing and agriculture, forestry and
fishing enterprises, which accounted for more than a half of the total
investments of all enterprises. Compared to the 1st quarter of 2017,
investments in buildings, computer systems and land increased. Investments in
machinery and equipment and in transport equipment decreased.
The statistics are based on the questionnaire “Economic activity, quarter”,
the submission date of which was 21 April 2018. 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.