The turnover of domestic card transactions made by residents of Estonia rose slightly on year to the second quarter of 2023 (Q2 2023), while the amount spent on card payments abroad fell over the same time-frame, the Bank of Estonia (Eesti Pank) reports.
In a recently released report, the central bank divided its findings into domestic payments, cross-border payments, and cash withdrawals and card payments, as follows.
Domestic payments in Q2 2023 quick facts (Source: Bank of Estonia)
- Turnover excluding card payments was €55.0 billion, while payments totaled 52.3 million.
- Turnover of domestic client payments was up 0.6 percent on the quarter, and by 2.6 percent on Q2 203 by number of payments. On year, these figures were 3.2 percent and 1.7 percent respectively.
- Domestic payments constituted 67 percent of all payments by turnover.
Cross-border payments in Q2 2023 quick facts (Source: Bank of Estonia)
- Constituted 33 percent of all payments made by turnover.
- 94 percent of the turnover of cross-border payments sent, and 97 percent of the turnover of payments received, were formulated in euros
- Turnover of cross-border payments sent was €26.8 billion; volume was 9.5 million transactions.
- Turnover of cross-border payments sent went up 0.8 per cent on year, while the number went up 133 percent over the same period. This large increase derived mainly from payment intermediation services.
- Turnover of cross-border payments sent was up 6.7 percent on the previous quarter, while the and the number of payments was up 32.3 percent between Q1 and Q2 2023.
- Turnover of cross-border payments received stood at €33.5 billion, totaling 3.9 million in number of payments.
- Turnover up 27.8 percent on year, though number was down 3.7 percent on year.
- Turnover of cross-border payments received was up 23.6 percent on the previous quarter, while the number of cross-border payments rose by 6.2 percent between Q1 and Q2 2023.
Cash withdrawals and card payments in Q2 2023 quick facts (Source: Bank of Estonia)
- Bank cards used for purchases of around €2.5 billion of goods and services, both inside Estonia and abroad.
- Cash withdrawals from ATMs up 13.2 percent on the previous quarter, but down 4.5 percent on year.
- Average cash withdrawal value from an ATM fell a little, to €155 (the figure had been €2-3 higher in the previous quarter, or in the same quarter last year).
- Turnover of card payments at point of sales terminals by cards issued in Estonia up 15.2 percent between Q1 and Q2 2023, and up 5.3 percent on year.
- Turnover of payments made abroad using cards issued in Estonia fell 1.6 percent on year.
- The largest share of the turnover of card payments, at 21.5 percent, was made in stores selling food, beverages and tobacco products. A further 10.6 percent of card payments were made at providers of accommodation and food services, and 7.3 percent were made at petrol filling stations.
More detailed information is available here, from the Bank of Estonia website.
The Bank of Estonia publishes payment statistics every month and issues a separate statistical release with the same rate of frequency.
This statistical release outlines the main changes in the payment statistics such as payments sent and received, card payments, and payees by main economic activity, the central bank says.
Editor: Andrew Whyte
Source: Bank of Estonia