OREANDA-NEWS. March 11, 2011. The annual growth in productivity in Estonia on the basis of production accelerated to 33.4 percent in the fourth quarter of 2010, Statistics Estonia said.

Productivity ratios in Estonia mainly declined in 2009, turning to growth in the final quarter of that year. During the course of 2010 growth became faster.

For all areas of business combined, labor productivity in the fourth quarter was 26,459 euros per employee. Measured in constant prices, this was 33.4 percent more than a year ago.

In manufacturing the rate of growth was 33.9 percent and in mining it was 15.3 percent. In the production of electric energy, steam and hot water supply productivity surged 44 percent.

The fastest growth rate was shown by the manufacture of computers and electronic devices, where the productivity indicator in the final quarter of the year was 220.9 percent higher than a year ago.

Also the labor productivity of personnel costs has increased significantly in Estonia in recent years. If in the first quarter of 2009 each euro spent on labor returned 5.22 euros in production, then in the fourth quarter of 2010 this indicator was 7.65 euros.