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WEEK 1. 2005

Monday, 3rd of January, 2005

Liquor manufacturers grew sales up to 30 percent
The customs regulations that changed on May 1 enable Scandinavian tourists to take along more cheap alcohol. According to the vodka union, manufacturing of hard liqueur grew 20 percent in Estonia last year. The sale of Liviko, largest distiller in Estonia, grew 25 to 30 percent. Janek Kalvi, sales director of AS Liviko admits that this is a very high growth. Estonian alcohol market changed due to increased tourism.
Eesti Päevaleht

Tuesday, 4th of January, 2005

Kunda port expects increase in cargo flows in 2005
Kunda port in North Estonia that in 2004 handled 1.4 million tons of cargo expects an increase in cargo handling this year. The port authority said that during 2004 the volume of import cargo went up 130 percent and the volume of export cargo fell 13 percent.

Estonian Air carried 547,004 passengers in 2004
Estonian national carrier Estonian Air carried 509,560 passengers on regular flights and 37,444 passengers on chartered flights in 2003. There was a 31 percent increase in number of passenger of regular flights and 70 percent increase in number of passengers of charter flights. The company said that it was the first time in the 13-year history of Estonian Air that the annual number of passengers has surpassed half a million.

Henkel Makroflex grew turnover by 58 percent
Henkel Makroflex, manufacturer of construction materials grew turnover by 58 percent up to EEK 470 million last year. According to the executive director of Henkel Makroflex, the year 2004 was the best year in their 17-year history.

Wednesday, 5th of January, 2005

Estonia ranked fourth by economic freedom
Heritage Foundation and WSJ rank Estonia fourth by economic freedom worldwide
Estonia has moved from sixth to fourth by economic freedom worldwide, according to a new survey of Heritage Foundation and Wall Street Journal. According to the survey, among 161 countries, Lithuania fell one place to 23rd and Latvia climbed one place to 28th.

Talse up by 57.1 percent
Talse, the index of the Tallinn Stock Exchange, went up 57.1 percent last year to 448.8 points, the highest growth since the stock market crash in 1998. Market value of listed companies went up 52 percent to EEK 4.5 billion.
Eesti Päevaleht

Car sales surpassed the level of 20,000 last year
In 2004, Estonian vendors of new cars sold 20,655 new vehicles all together. This is over thousand cars more than in 2003.

Thursday, 6th of January, 2005

Number of passengers in Tallink up by over half a million in a year
Estonia’s largest ferry group Tallink carried 3.1 million passengers in 2004 which is over half a million passengers more than a year earlier. Tiina Mander, Tallink Group market manager said that passenger numbers increased in both directions, Finland and Sweden. As of January 2, Tallink terminated its St. Petersburg service because of high costs.

Estonia’s economy may grow 6.5 percent in 2005 - EKI
Researchers of the Estonian institute of market research EKI said yesterday at a press conference that if the current economic boom continues, the Estonian economy could grow 6.5 percent in 2005. Estonian central bank has been forecasting economic growth between 5.6 and 6.1 percent.

Varnish and paint maker Eskaro triples profit
Estonian manufacturer of varnishes and paints, Eskaro, has reported to have tripled its profit and increased turnover by a fifth. The company, which is wholly owned by Estonian businessmen, ended last year with turnover of 153 million and profit of 20 million.

Friday, 7th of January, 2004

Estonian consumer price index up 3 percent in 2004
The percentage change of the consumer price index in 2004 compared to the average of 2003 was 3 percent. The price of goods went up 2.9 percent, price of food 3.7 percent, price of manufactured goods 2.2 percent and price of services 3.3 percent.

Estonian exports with non-EU countries up 52 percent in a year
Statistical office reported that Estonian export with non European Union countries increased 52 percent year-on-year. Year-on-year, imports increased 47 percent in November 2004 compared to November 2003.

Credit Bank earned a record profit of EEK 16.5 billion
Last year, Credit Bank earned a profit of EEK 16.5 million, which is a record result in the history of the bank. Credit Bank regards the year 2004 as very successful. The average annual return on equity formed 16.7 percent. Banks share capital amounts EEK 85 million. Credit bank’s loan portfolio grew from EEK 603.9 million in 2003 to EEK 757.7 million in 2004.

Turnover of VP market grew 16 percent in the Baltics
Turnover of VP Market, Baltics biggest retail chain, grew up to EEK 19 billion or by 16 percent in 2004. In 2003, turnover of VP Market reached EEK 16.3 billion. Chairman of VP Market predicts that this year, turnover of VP market would grow 15 percent.

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