Euros. Image is illustrative Source: ERR
Business profits increase by 4% in 2018
According to preliminary data of Statistics Estonia, in 2018 the total profit of the business sector reached €2.9 billion, which is 4% more than in the year before.
Compared to 2017, total profits increased in most economic activities. Manufacturing and trade enterprises contributed the most to the total profit of the business sector, while profit growth was slowed mainly by administrative and support services as well as construction.
The profit of manufacturing increased by approximately a fifth compared to 2017, mainly due to an increase in profits in the manufacturing of metal products, fuel oil, machinery and equipment, along with construction materials.
In 2018, enterprises sold goods and services for €61 billion, which is 10% more than in the year before. The biggest increase in turnover occurred in real estate and agriculture as well as in forestry and fishing. The turnover of trade and manufacturing enterprises, which make up the biggest share in the total turnover of the business sector, increased by 9% and 7%, respectively.