Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 26.2006

Wednesday, 28th of June, 2006

Estonian economy in bird’s eye view
Eesti Paevaleht’s business appendix Arileht publishes a series of aero photographs of the most important business objects and companies in Estonia.
Last year 1.4 million passengers and 33,610 airplanes passed the Tallinn international airport. In 2005, Tallinn Airport’s turnover was EEK 297 million by the profit of EEK 88 million. Estonian Air’s Boeings have lately received attention due to wrong reasons – when a flight or two is cancelled. But last year Estonian Air carried 642,700 passengers from one destination to other. In 2005 Estonian Air’s turnover reached EEK 1143.5 million and profit was EEK 65.9 million. Last year, 11 million people (31,000 people a day) visited Hotel Viru. Profit of 2005 was EEK 0 by the turnover of EEK 1.43 billion. The future of Estonian tourism business lies in the breathtaking beach of Narva-Joesuu. 100 years ago the elite of Moscow and St. Petersburg called this place the Northern Riviera. Soon, real estate developers and construction companies will receive a lot of work in the area. One of the best Estonian spas is in the Toila-Oru Park. The company’s sauna complex Toila Terms can easily be compared to the best of the kind. In 2005 Toila Spa’s turnover reached EEK 40 million and profit was EEK 4 million.
Eesti Päevaleht, Ärileht

Thursday, 29th of June, 2006

Turnover of foreign trade up 27%
Turnover of Estonian foreign trade reached EEK 22.5 billion in April. This is 27% more than in April last year. In April the export from turnover of foreign trade was EEK 9.5 billion (42%) and import EEK 13 billion (58%).
Eesti Päevaleht

Estonia fulfilled the requirement for fixed exchange rate
Estonia fulfilled another prerequisite for joining the euro zone – Estonia has been a member of exchange rate mechanism ERM2 for two years. The exchange rate of EEK-EUR has remained the same and it is suitable for going over to the common currency.

Friday, 30th of June, 2006

Estonia's economic growth 2nd fastest in EU
According to Statistics Board, Estonia's economy grew 11.7% in the 2nd quarter in comparison to the same period last year and GNI in prices current was 42.9 billion EEK, which is the 2nd fastest economic growth in the EU after Latvia's 13.1%.

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