International Internet Magazine. Baltic States news & analytics
Thursday, 30.10.2014, 14:13
Estonia's export volume per capital is close to Finland's level
"While last year, the gap between Estonia and Finland in exports per capita was 20 percent, now it has contracted further – 8 percent," said Swedbank's corporate banking manager Robert Kitt at the presentation of a study of industrial companies yesterday. "I take for the first time the liberty to make a prediction and forecast that next year, Estonia's exports per capita will be bigger than in Finland." Kitt added that Estonia has not benefitted from others doing more poorly but Estonian companies have worked hard.
According to the study, the expected share of exports of turnover is 74% in 2013. "When we look at sales distribution, three quarters is sent behind the border. It is important what takes place in target markets," said Kitt. Food products industry stars here since it has a clear ambition to increase export volume.
The study indicated that 79% of the polled industrial companies plan to increase turnover thus year, by an average of 8%. Construction materials industry plans the biggest growth and timber industry the smallest.
42% of the companies said that shortage of skilled labour limits their activities. Every third company intends to hire more staff in the future.