Inflation of 0.6% in February was mainly driven by energy prices, as price rises in the rest of the consumer basket remained slow.
Electricity prices were up 27% on the year and raised inflation by 0.9 percentage point. Cold weather... more
The capacity of the banks in Estonia to lend has remained good despite the Covid-19 crisis. The capital buffers built up in earlier years, rapid growth in deposits and the issuance of covered bonds have ensured that they have sufficient... more
Data from Statistics Estonia show that the average wage was 2.9% higher in the fourth quarter of 2020 than it was at the same time in 2019. The seasonally adjusted average wage was higher than in the third quarter. Wage growth in... more
Estonian GDP was 1.2% smaller in the fourth quarter of last year than it was a year earlier. Growth was reined back by branches of the economy that were subject to restrictions, such as accommodation, food service and entertainment. GDP... more
The market for residential real estate has survived the extraordinary times well. Transactions have recovered and the average transaction price has risen. The emergency restrictions in the spring made it harder to complete transactions... more
The tighter restrictions placed on businesses in Harjumaa and Ida-Virumaa and the loss of tourists did not cause the labour market to deteriorate in the fourth quarter of 2020. The labour force survey put the unemployment rate at 7.4%,... more
Eesti Pank produces statistics on foreign travel because one task of the central bank is to compile the balance of payments for Estonia, which includes exports and imports of travel services. Eesti Pank will publish the balance of payments for 2020 on 10 March 2021.
More detailed... more
Data from Statistics Estonia show that consumer prices in January were 0.2% higher than a year earlier. Energy prices were down by 2.5%, but prices for food, including alcohol and tobacco, were up 0.5%.
The rise in prices was driven... more
The operating environment of the banks has been changed substantially by the coronavirus crisis, but the crisis has so far had little impact on the profitability of the banks. The Estonian banking sector earned a profit of 383 million... more
Data from Statistics Estonia show that consumer prices were down 0.8% over the year in December. The consumer basket fell in price by 0.4% on average over 2020.
The year 2020 will go down in history as the year of the coronavirus... more