estonian economy and food industry karel lember executive officer economic analyses division...
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Estonian economy and food industryKarel LemberExecutive officerEconomic analyses division
Valmiera14.11.13
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Food industry
• 453 enterprises• Half of enterprises has 1-9 employers• Family and lifestyle enterprises
segment is growing• 38 enterprises with 100 and more
empoyers
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Structure of Manufacturing Industry 2012
Apparatus industry25.7%
Food industry14.8%
Wood industry13.1%
Chemical industry9.5%
Metal industry8.3%
Light industry4.3%
Furniture industry3.8%
Transport equipment3.7%
Construction materials3.5%
Machinery industry3.1%
Others 10.1%
Source: Statistical Office of Estonia
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Food industry in Estonian economy
Share in value added
Share in man. in-dustry exports
Share of exports in
sales
Share in employ-ment of
man. industry
Ratio to average
wage
0
10
20
30
40
50
60
70
80
90
100
1.87.0
34.0
12.387.2
Source: Statistics Estonia
%
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Sales and exports
2007 2008 2009 2010 2011 2012*0
200
400
600
800
1,000
1,200
1,400
-15
-10
-5
0
5
10
15
20
25
Sales Exports Change in sales (r.s.) Change in exports (r.s.)
Source: Statistics Estonia
million € % y-o-y
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Number of workers and wages
2007 2008 2009 2010 2011 2012*0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
-12
-10
-8
-6
-4
-2
0
2
4
6
8
Number of employed peopleAverage wages (in Euros)Change in the number of employed people (r.s.)Change in wages (r.s.)
Source: Statistics Estonia
% y-o-y
825
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Value added, labour costs and productivity
2007 2008 2009 2010 2011 2012*0
50
100
150
200
250
300
350
-15
-10
-5
0
5
10
15
Value addedLabour costsGrowth in total productivity (r.s.)Growth in labour costs productivity (r.s.)
Source: Statistics Estonia
million € % y-o-y
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Food industry by sales
Meat processing industry18%
Fish processing industry11%
Dairy industry24%Production of prepared
animal fodder3%
Production of bakery and pasta products
10%
Production of beverages14%
Other17%
Processing and preserv-ing of fruit and vegeta-
bles4%
Source: Statistics Estonia
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Dairy products 2012
Drinking milk cheese Cream Butter0
10
20
30
40
50
60
70
80
90
100
EstoniaLatvia
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Exports by main target countries
Finland
Latvia
Lithuania
Russia
Sweden
Germany
0% 5% 10% 15% 20% 25%
2012 2011Source: Statistics Estonia
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Imports by main origin countries
Latvia
Lithuania
Poland
Finland
Germany
Denmark
0% 2% 4% 6% 8% 10% 12% 14% 16% 18%
2012 2011Source: Statistics Estonia
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Exports by commodity group
Dairy products27%
Meat products12%
Beverages7%
Fish products22%
Other products33%
Goods of Estonian originSource: Statistics Estonia
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Investments
2007 2008 2009 2010 2011 2012*0
20
40
60
80
100
120
140
160
180
200
-80
-60
-40
-20
0
20
40
60
80
Investments in fixed assets Change in investments (r.s.)
Source: Statistics Estonia
million € % y-o-y
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Consumer price index
2007 2008 2009 2010 2011 2012 2013100
110
120
130
140
150
160
TotalFood
Source: Statistics Estonia
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Real wages and productivity growth
I'05
II III IVI'06
II III IVI'07
II III IVI'08
II III IVI'09
II III IVI'10
II III IVI'11
II III IVI'12
II III IVI'13
II0
200
400
600
800
1000
1200
-12
-9
-6
-3
0
3
6
9
12
15
18
Average wage Real growth of wagesReal growth of productivity
euro %
Source: Statistical Office of Estonia
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Growth in manufacturing output in industries with higher value-added
Q1
2005 Q
3
Q1
2006 Q
3
Q1
2007 Q
3
Q1
2008 Q
3
Q1
2009 Q
3
Q1
2010 Q
3
Q1
2011 Q
3
Q1
2012 Q
3
Q1
2013
60
80
100
120
140
160
180
200
"Good" sectors "Average" sectors "Below average" sectors
Productionindex,
2005=100
Sectors with higher value-added have performed better after the crisis (also without electronics), recovery of industries with lower value added is modest. Similar trends illustrate employment, exports and profits.
Source: Statistical Office of Estonia
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Smart Specialisation
1. ICT (horizontally through other sectors)
a) ICT in industry
b) Cyber security
c) software
2.Healthcare.
d) biotechnology
e) E-medicine
3. Resources.
f) Material science and industry
g) Knowledge based construction
h) Functional food
i) Chemical industry (oilshale)
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Innovation in Estonia
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Taxes in Estonia
Social&Headlth Insurance
Tax on dividends
Individual Income Tax
VAT
Corporate Income Tax
0 5 10 15 20 25 30 35
33
21
21
20
0
No corporate income tax on reinvested earnings
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Thank You!