Observer Eesti Oü

WEEK 48th 2004

Monday, 22nd of November, 2004

Estonian average wage over EEK 7,000 in third quarter, up 9.2 percent
Average monthly gross wage of full-time and part-time employees was EEK 7,021 or 448 euros in the third quarter 2004.
According to the Estonian statistical office, hourly gross wage was EEK 41.90.
Year-on-year average monthly gross wage increased 9.2 percent and the average hourly gross wage was up by 9.3 percent.
The statistical office said that the wage rise was influenced by the wages paid by companies with less than 50 employees, which increased by 8 percent, compared to the third quarter of the previous year.
The average monthly and hourly gross wages increased most in construction — 19.4 percent and 16.8 percent, respectively, compared to the same quarter of 2003.
The average monthly and hourly gross wages decreased only in fishing — by 16.7 percent and 24.7 percent compared to the same quarter of 2003.
The average gross wages and salaries were 6,998 kroons in July, 6,890 kroons in August and 7,151 kroons in September.

Tuesday, 23rd of November, 2004

Wages in the construction industry up 20 percent in a year
Wages paid in the Estonian construction industry have increased 20 percent in the last year. This is attributable both to the booming construction business and lack of qualified workforce since many skilled construction workers have found work in Finland. In the Estonian economy overall, wages increased 8.2 percent year-on-year in the third quarter.

Saurix Petroleum turnover reached over EEK 580 million
In nine months, AS Saurix Petroleum achieved a net turnover of EEK 587.8 million. Same time last year, the turnover of fuel exporter, importer and seller reached EEK 495.8 million.

Wermo grew profit and sales
The nine-month turnover of furniture manufacturer AS Wermo reached EEK 76.2 million and the company earned EEK 3 million of net profit.

Wednesday, 24th of November, 2004

Hansa Life Insurance collected EEK 292 million of insurance premiums in ten months
In ten months, Hansa Life Insurance collected EEK 292 million of insurance premiums, which is 53 percent more than in respective period last year,
In October, Hansa Life Insurance collected EEK 34.6 million of premiums, which exceeds the amount of premiums in October 2003 by EEK 3.3 million.

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