Estonia The figures of the 1st quarter of year 2019 show that the times in the real estate market are still good and even though the growth is slower than before, the setback that influenced the second half of last…
Finland, Sweden, Latvia, and Russia – Estonian closest neighbours – contribute about one-fifth to Estonian GDP through exports. The share of the four neighbouring countries’ tourists’ expenditure is about 60% of the expenditure of all tourists. Finland and Sweden have…
In 2018, Estonian GDP growth slowed to 3.9% in real terms and to 8.6% in nominal terms and was supported by domestic demand and strong foreign demand. The growth was still strong and only slightly exceeded our expectations – our…
In the third quarter, Estonian GDP growth accelerated to 4.2% yoy in real terms. Compared to the previous quarter GDP increased 0.4%, seasonally and working day corrected. In nominal terms, GDP increased 9.5% in the third quarter and 8.5% ytd.…
The Baltic economies are operating above their potential No overheating, but economic temperature is rising gradually Monitoring, fiscal prudence, and productivity-boosting reforms are necessary The Baltic economies are now fully recovered from the past recession, and the output gaps have…
Real GDP growth in Estonia accelerated to 3.7% yoy in the second quarter of 2018. The growth was stronger than in the first quarter (3.3%). In the first half, GDP growth was 3.5% in real terms. The acceleration of the…
In a post-crisis period, the growth of Estonian labour productivity has been weak Estonian labour productivity is lower than majority of European Union member states Estonia is losing price competitiveness against main trade partners After the recovery from the financial…
In the past year, the global economy has enjoyed a strong rebound in global trade. This has contributed to lifting the global economy out of the stagnant growth path that followed the financial crisis. US tariffs and the risk of…
Estonia’s exports to Finland are the most diversified among the largest trade partners Exported goods from Estonia have gained market share on the Finnish market Estonia is losing its price competitiveness against Finland Finland is Estonia’s largest export partner. Among…
As the economies of the European Union’s countries are on a rising trend, one cannot underestimate the growth of the Spanish market. According to CBRE, the Spanish economy has an expected growth of 2.5% compared to the European average 1.6%.…
The rapid and broad-based strengthening of the world economy that occurred in 2017 has exceeded expectations. High employment rates and increasing wealth sparks optimism in people, which is apparent in the increased spending of households. Improved demand has increased the…
Growth at its cyclical peak Productivity is the key to income convergence in the Baltics Sustainable development – where do we stand? Universal basic income – utopia or an urgent necessity? Growth at its cyclical peak The upswing in global…
In 3Q2017 Estonian GDP expanded 4.2% yoy and 0.3% qoq (swad) in real terms. In nominal terms, GDP increased by 8.9% yoy. During the first three quarters, GDP has increased by 4.8% yoy in real terms. The major contribution to…
Wage growth remains relatively high as labour demand increases more than supply. Swedbank expects the average gross wage to grow by around 5% and the real net wage by close to 9% in 2018. The growth of the average gross…
Swedbank Economic Outlook presents the latest economic forecasts for Sweden, the Nordic and Baltic countries and the major global economies. In this update, current issues that have a bearing on economic developments are analysed. Global – Strong growth momentum The…