The unemployment rate increased moderately in the second quarter but has been stable since then. We expect the unemployment rate to reach around 8% this year and then decrease again next year. According to Statistics Estonia, employment fell by 3.6%…
In Estonia, GDP contracted 0.7% yoy (non-adjusted) and 3.7% qoq (seasonally and working day adjusted) in 1Q The steep fall in VAT and excise taxes contributed negatively, while the gross value added increased 2% yoy. There were more economic activities…
If the market overview of March already mentioned the impact of the emergency situation in the second half of the month, the statistics of April transactions was fully impacted by it. However, in the last week of the month, increased…
• Labour market figures were still strong before the crisis. • Data has deteriorated rapidly since March. Corona crisis did not affect Q1 data Q1 labour market survey was carried out between January and March, i.e. before the crisis hit.…
The overview of real estate market in March cannot escape the topic of coronavirus COVID-19 outbreak which started to influence the market considerably from the second half of the month. Estonian Real Estate Market in March 2020 As the majority of transactions…
On 31 March 2020 the owner and operator of T1 Mall of Tallinn shopping centre, AS Tallinna Moekombinaat (TMK, a group subsidiary of AS Pro Kapital Grupp), submitted an application to Harju County Court for commencement of reorganisation proceedings with…
Wage growth remained relatively rapid and broad-based in the fourth quarter. Statistics Estonia’s wage data showed a slowdown in the annual growth rate of the full-time-equivalent average gross wage (+6.4%, over the year) in Q4 2019, mostly due to a…
In 2019, Estonian GDP growth was 4.3% y/y in real terms and 7.7% y/y in nominal terms. Although, the growth slowed from previous year, it was still strong and exceeded our expectations – our forecast, published in January, was 3.7%.…
In October, the people visiting the real estate conference of EKFL admitted that the sentiment of the participants in the real estate market is rather positive and no bigger systematic risks are predicted for the next few years. When looking…
Wage growth remained rapid and broad-based in the third quarter. The average full-time-equivalent gross wage amounted to EUR 1,397, up by 8.2%, over the year. Tax Authority’s gross median wage amounted to EUR 1,100, up by 10% in a year. …
Estonia’s GDP grew 4.1% y/y and 1.0% q/q (seasonally and calendar adjusted) in the third quarter this year. Non-adjusted annual growth was 4.2% in real terms and 7.3% in nominal terms. The growth was above our expectations. Economic growth is…
The curious case of household consumption in the Baltic countries Lithuanians consume a lot more than Estonians and Latvians, despite higher wages in Estonia Differences in prices, remittances, saving rates, and, especially, unofficial income may explain this gap But material…
Wage growth is rapid and broad-based. The average gross wage amounted to EUR 1,419, up by 7.4%, over the year, in the second quarter. Wage growth was broad-based, in terms of sectors and levels. Tax Authority’s wage data show that…
In June, inflation reached 2.4%, over the year. Goods were 1.8% and services 3.5% more expensive. Almost half of the increase in prices resulted from higher prices of food and housing. The prices of fresh vegetables have surged due to…
The economy is increasingly relying on central banks When at the end of last year, financial markets were hit by true panic regarding the future of the world economy, today we dare to look into tomorrow with slightly improved optimism.…
