Analytics, Economics, Estonia, Export, GDP, Markets and Companies

International Internet Magazine. Baltic States news & analytics Tuesday, 09.06.2026, 08:03

Swedbank: price competitiveness of exported goods is at risk on foreign markets of Estonia

BC, Tallinn, 18.03.2013.Print version
Although economic growth in Estonia has depended significantly on foreign trade, the contribution of exports to gross domestic product (GDP) growth has fluctuated. However, as export growth fell already at the end of 2011, the contribution of domestic demand to GDP growth started to dominate, Estonian branch of Swedbank said in a statement, writes LETA.

Since last September, exports of manufacturing output have risen, contributing to growth mainly through the acceleration of exports of computers and electronic products. Seventy-one percent of manufacturing sales are exported. The share of intermediate goods in exports is decreasing, while that of capital goods is growing. Swedbank expect a more broad-based improvement in exports in the second half of 2013.

 

Unit labor costs are, however, picking up, as a result of both growth in labor costs and a deceleration in labor productivity. According to preliminary estimates, the growth of unit labor costs against our main trading partners is not expected to slow in 2013, owing to the worsening price competitiveness. Still, a weakening euro exchange rate against SEK, RUB and USD will have a positive influence on our export prices and cost competitiveness.





← Back↑ Up

Русский
Search site