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Flash estimate of GDP: economic growth in the first quarter was 1.2%
30/04/25
According to preliminary estimates by Statistics Estonia, Estonia’s GDP grew by 1.2% in the first quarter of 2025 compared to the same period last year and by 0.1% compared to the fourth quarter of 2024 (seasonally adjusted). The exact GDP data will be published on May 30, with the flash estimate based on statistical models.
Source ERR
The European Central Bank cuts main interest rate by 0.25 percentage points
23/04/25
The Governing Council of the European Central Bank has decided to cut its key interest rate by 25 basis points, or 0.25 percentage point, and from 23 April the interest rate will be
the interest rate on the deposit facility will be 2.25 per cent.
the interest rate on the main refinancing operations will be 2,40 %.
the marginal lending rate shall be 2.65%.
The decision has a direct impact on the Euribor.
Source ERR
2025 New tax changes
12/12/24
The Ministry of Finance has provided an overview of legal amendments in its area of administration in 2025. Summarized here the most important changes.
Income tax rates adjust
From 2025, income tax for individuals and corporations will increase to 22 above 700 EUR
VAT rates increase
From 2025 :
VAT on accommodation services rises to 13 percent (from 9 percent).
VAT on journalism increases to 9 percent (from 5 percent)From July 1, 2025: VAT rises by 2 percentage points to 24 percent
Motor vehicle tax
From January 2025, a two-part vehicle tax will be introduced in Estonia:
A registration fee, payable when a vehicle is first registered or changes ownership in the national traffic registry.
An annual motor vehicle tax, based on parameters like weight and CO2 emissions.
Excise taxes rise
From January 2025:
Alcohol and tobacco excise taxes increase by 5 percent.
Tobacco excise rises an additional 5 percent from July.
Fuel excise taxes: Gasoline by 5 percent, diesel by approximately 7 percent and electricity by approximately 40 percent.
Source ERR
European Central Bank cuts main interest rate by 0.25 points
06/08/24
A figure tied to many loans in Estonia, the six-month Euribor, or Euro Interbank Offered Rate, on Monday fell by 0.059 percentage points to 3.494 percent.
This marks the first time recently that the six-month Euribor has fallen below the 3.5 percent mark.
Effective June 12, the ECB lowered the interest rates on its main refinancing operations, marginal lending facility and deposit facility to 4.25 percent, 4.50 percent and 3.75 percent, respectively.
On July 18, the Governing Council of the ECB decided to leave these rates unchanged.
Source ERR
Average purchase milk price fell in Estonia in 2023
25/01/24 News .. In 2023, Estonian farmers sold 859,600 tonnes of milk for nearly €375 million, reports Statistics Estonia. The average price was €436.73 per tonne, a 5.8% decrease from the previous year.
Eesti Energia's third-quarter profit is up 55 per cent
02/11/23 News .. The Eesti Energia Group reported third quarter sales of €408 million, with 66 percent coming from outside Estonia. Their normalised net profit for the quarter stood at €39 million, a 55 percent increase from the previous year.
October in Estonian supermarkets: Meat getting more expensive
02/11/23 News .. In Estonian shops, although food prices have slightly reduced, the decrease is primarily minimal, and the majority of products have become more costly over the years. Last month, no meat product experienced a price decline, and both rye and white bread saw a 20% price increase year-on-year.
Eesti Gaas will increase prices starting 1st December
01/11/23 .. Starting 1st December, the cost of Eesti Gaas’ household flexible package will rise by 27 percent, equating to 75 pence per cubic metre.
Selver: Shoppers in Estonia only buying most necessities
01/11/23 .. In Estonia, consumers focus on purchasing essential items and leaning towards discounted products. At the same time, the sales of manufactured goods appear subdued for the foreseeable future, noted Selver’s business accounting director, Kristjan Anderson, on Tuesday.
Consumer prices witnessed a 5 per cent increase in October year-on-year.
31/10/23 .. Estonian consumer prices increased by 5 per cent in October compared with the same month last year, according to a flash estimate from Statistics Estonia.
Fossil fuel could rise by nearly 40 cents in 2027
30/10/23 .. The German research institute projects a potential increase of approximately 40 pence per litre in fossil fuel prices by 2027 due to the ETS’s expansion into transport. Meanwhile, the Ministry of Climate forecasts a more modest rise of up to 10 per cent.
Estonia's third-quarter GDP is down 2.5 per cent
30/10/23 .. According to an initial evaluation by Statistics Estonia, Estonia’s GDP saw a 2.5 per cent reduction in the third quarter of 2023 compared to the same quarter in 2022.
The Estonian housing market has declined by one-third, reverting to levels seen a decade ago.
28/10/23 .. Year-on-year, Estonian housing market transactions have decreased by a third. Even with the halt in interest rate increases, property analysts are sceptical about a market resurgence. They suggest the apartment market is reminiscent of 2015-2016, while certain regional single-family home markets hark back to levels seen in 2013 or 2014.
Telia plans 95 per cent coverage for the 5G network by the end of 2024
27/10/23 .. Telia aims to extend its 5G network to encompass 95 per cent of Estonia’s populace by the close of the upcoming year, as reported by Postimees. At present, they have achieved coverage for about 75 per cent.
