According to Statistics Estonia, in the 2nd quarter of 2013 the total profit of the business sector was 801 million euros, which was 5% less than in the same period a year earlier.
The total profit of business sector is smaller than a year ago
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The biggest contribution to the decrease in the total profit was made by manufacturing and transportation and storage activities. The profit in manufacturing decreased 19% compared to the 2nd quarter last year, first of all due to the decrease of profits in the manufacture of fuel oil, food and chemical products. The profit in transportation and storage activity decreased by fourth, influenced mainly by the water transport. The biggest positive contribution to the total profit was made by activities mainly relying on domestic market – real estate, trade and energy.
In the 2nd quarter of 2013, enterprises sold goods and services for 12.7 billion euros, which was 9% more than in the same period a year ago. The biggest growth was in mining influenced mainly by the increased manufacture of peat. The turnover of wholesale and retail trade and manufacturing, which have the biggest share in the gross net sales of the total business sector, increased 14% and 10%, respectively.
Compared to the 2nd quarter of 2012, enterprises’ total costs increased 10%. Personnel expenses increased 9%. The number of persons employed as well as the number of hours worked increased 3%. Labour productivity on the basis of the value added of the business sector amounting on an average to 5,400 euros per person employed in a quarter and stayed the same as the same period a year ago.
The investment activeness of enterprises is decreasing. In the 2nd quarter of 2013, enterprises invested 603 million euros, which is 8% less than at the same time of 2012. The biggest investments were made mainly in equipment and machinery and in the construction and alteration of buildings. The biggest investors were energy, agricultural and manufacturing enterprises with more than a half of the total investments of enterprises. Compared to the 2nd quarter of 2012, only investments in equipment and machinery and in computers increased. Other investments decreased.
Total profit of the business sector, 1st quarter 2009 – 2nd quarter 2013
