Estonia’s leasing market declined by almost 70
percent last year, despite seeing a hike in new business during
December.

New sales in 2009 totalled EEK4.9 million
(€313 million) compared to EEK15.1 million (€965 million), figures
published today by the Bank of Estonia show.

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There was a slight pick-up in December with
new business for the month totalling EEK452 million (€29 million)
compared with a monthly average for the year of around EEK370
million (€26 million).

However, as this was offset by a high number
of leases coming to an end, the country’s total leasing portfolio
in fact declined by EEK557 million to EEK27.6 billion.

Passenger cars and other small vehicles accounted for 32 percent
of Estonia’s new business last year, commercial vehicles for 14
percent, and machinery and ships/ aircraft and railway rolling
stock for about one quarter each.

Brendan Malkin

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