Industry revenue of »engineering activities, related technical consultancy« in Estonia 2011-2023

Estonia has displayed a quick recovery from the 2009 Eurozone crisis, owing to favorable government initiatives and has emerged as one of the fastest growing economies in the EU in recent years. To give this some perspective, the number of enterprises in the civil engineering industry have grown 21 percent between 2010-2016 and building construction activities, which include the construction of commercial and residential buildings, and the development of new building projects, have witnessed over 42 percent revenue growth between 2011-2019. This has augured well for the engineering activities and related technical consultancy sector, with revenues growing from 217 million U.S. dollars in 2011 to 288 million U.S. dollars in 2019.

Owing to the robust activities in the construction sector, initial projections demonstrated a 6 percent revenue growth between 2020-2023. However, the outbreak of the corona virus has brought almost all industry operations to a virtual standstill and the sector is unlikely to achieve its projected growth. As a nationwide lockdown has been announced, all construction and related activity has been suspended for an indefinite period of time.

Industry revenue of »engineering activities, related technical consultancy« in Estonia from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Estonia. The industry “engineering activities and related technical consultancy“ has the code “M7112“.

Details on the methodology can be found here.

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