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Thursday, 28.03.2024, 18:26
Total profit of Estonia's business sector drops 12%
Compared to the 2nd quarter of 2017, total profit decreased in most
economic activities. Trade, agriculture, forestry and fishing and information
and communication enterprises contributed the most to the total profit of the
business sector. The growth in the sector’s profit was negatively affected
mainly by enterprises specialising in administrative and support service
activities and transportation and storage enterprises.
In the 2nd quarter of 2018, enterprises sold goods and services for 15.3
billion euros, i.e. 10% more than in the same period the year before. The
biggest year-on-year increase occurred in the turnover of agriculture, forestry
and fishing enterprises. The turnover of trade and manufacturing enterprises,
which have the biggest share in the total turnover of the business sector,
increased respectively by 10% and 6% compared to the 2nd quarter of 2017.
Compared to the same quarter of the previous year, the total expenditure
of enterprises increased by 11%, including a 7% increase in labour costs. The
number of persons employed and the number of hours worked stayed on the level
of the previous year. Labour productivity of the business sector on the basis
of value added amounted to an average of 5,900 euros in a quarter per person
employed, i.e. 1% more than in the 2nd quarter of 2017.
In the 2nd quarter of 2018, enterprises invested 517 mln euros, which is
a fifth 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
manufacturing, energy and agriculture, forestry and fishing enterprises, which
accounted nearly half of the total investments of all enterprises. Compared to
the 2nd quarter of 2017, investments in buildings and in machinery and equipment
increased. Other investments
decreased.