International Internet Magazine. Baltic States news & analytics
Wednesday, 20.08.2014, 23:26
Swedbank: Estonian industrial companies are optimistic about the future
"It was absolutely surprising that the dominant majority of Estonian industrial companies expect turnover growth in 2012. 70% of timber industrialists have faith in turnover growth and around 90% of food industry companies do," said Swedbank's corporate banking manager Robert Kitt.
The manufacturing industry hopes to increase turnover by 10% in 2012.
A half of industrial companies also intend to increase the share of exports. "According to the current study, the food industrialists (62%) and heavy industrialists (82%) plan to boost exports most," he said.
Kitt estimates that the flexibility of Estonian industrialists has enabled them to climb to a higher level.
"Estonia has managed to sell and there is no reason to think that it couldn’t do that next year," noted Kitt.