2013 a Success For Business Sector ({{commentsTotal}})

Total profit of the business sector, 2002–2013
Total profit of the business sector, 2002–2013 Source: Graphic: Statistics Estonia

The total profits for the business sector last year reached 3.1 billion euros, 5 percent more than the year prior, and the most current in a now four-year string of rising profits.

Compared to 2012, the total business profit increased in almost every economic activity, stated a report by Statistics Estonia.

The largest contribution to the growth in total profit was made by activities mainly relying on the domestic market; real estate, energy, and trade. Transportation, storage, and manufacturing activities were the sectors doing the worst. Manufacturing profit, which held the largest share in the total profit of the business sector, decreased 6 percent compared to 2012. This was mainly due to decreasing profits in the shale oil and food industries.

Enterprises sold goods and services for 50.5 billion euros, which was 9 percent higher than the year before. The turnover of wholesale and retail trade and manufacturing enterprises, which have been the biggest share in the turnover of the total business sector, increased 15 and 7 percent, respectively. The biggest increase (33 percent) occurred in the turnover of real estate activity.

Businesses invested 2.6 billion euros, which was the same as the year before, and similarly to 2012, the largest investments were made mainly in equipment and machinery and in the construction and alteration of buidings.

in the fourth quarter of 2013, enterprises sold goods and services for 12.8 billion euros, which was 5 percent more than in the same period in 2012.