Statistics: Business sector turnover and investments increased in 2019
In 2019 turnover increased in most economic areas but was negatively affected by energy and mining, data from Statistics Estonia shows.
Trade, manufacturing and information and communication enterprises contributed the most to the turnover of the business sector. The growth in the sector's turnover was negatively affected mainly by energy and mining.
In 2019, enterprises sold goods and services for €64.2 billion, which is 5 percent more than the year before. Compared to 2018, the total expenditure of enterprises increased by 5 percent, including a 9 percent increase in labour costs.
The number of persons employed as well as the number of hours worked also increased. The labour productivity of the business sector on the basis of turnover amounted to an average of €137,400 per person employed, i.e. 3 percent more than the year before.
Enterprises invested €3.2 billion, which is a fifth more than the year before. The investments were made mostly in machinery and equipment, and in buildings. Manufacturing, energy, transportation and storage and real estate enterprises accounted for more half of all investments.
In the fourth quarter of 2019, enterprises sold goods and services for €16.8 billion and invested €925 million.
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Editor: Helen Wright