Observer Eesti Oü
WEEK 11th 2004

Monday, 8th of March, 2004

Hansabank’s Internet bank has more than half a million customers in Estonia, the Internet banking service of Hansabank, has reached half a million users in Estonia. In all Baltic countries, has over 1.1 million users of whom 355,000 are in Lithuania and 291,000 in Latvia.

Export increase shrank foreign trade deficit
January brought encouraging developments to the Estonian foreign trade deficit, which shrank to EEK 1.8 billion. Exports continue to increase while import growth is slowing down notably.
In January, Estonian export grew by tenth compared to respective month last year. Export grew due to fast growth of production, admitted Merike Riipinen from the ministry of economics and communications. Anne Karik-Uustalu from Sampo Bank noted that the growth of export is a proof of production’s competitive ability at foreign markets.

Moody’s raised the credit rating of Eesti Energia
International rating agency Moody’s Investor Service raised the credit rating of Eesti Energia (Estonian Energy) on Thursday.
Moody’s justified the increase of rating with Estonian integration to Estonia and with Lithuanian government’s decision not to sell Lithuanian conveying channels RST to Eesti Energia.

Tuesday, 9th of March, 2004

Economic growth reached 5.8 percent
By preliminary estimations the economic growth in Estonia was 5.8 percent in the 4th quarter of 2003 compared to the same period a year earlier. The preliminary gross domestic product (GDP) calculated in accordance with the internationally recognised methodology for the 4th quarter of 2003 and for the year 2003 will be published on 30 March 2004.

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