In the third quarter, GDP grew 8.5% over the same period last year, which was revised upwards from the flash estimate produced in November and was virtually unchanged from the 8.4% rise in the second quarter. Compared to the previous quarter, the economy expanded a seasonally and calendar-day adjusted 1.2% over the previous quarter, which was below the 1.7% increase registered in the second quarter. Growth in the third quarter of the year was mainly driven by investment and an increase in inventories, which according to Statistics Estonia (SE), added 6.3 and 3.5 percentage points respectively to economic growth in the third quarter. Fixed investment accelerated from a 15.1% expansion in the second quarter to a 34.4% increase in the third. Private consumption grew 5.1% in the third quarter (Q2: +3.7% year-on-year), while government consumption added 5.7% in the third quarter (Q2: +1.9% yoy). Exports of goods and services slowed from a 31.7% increase in the second quarter to a 24.4% expansion in the third. Simultaneously, imports decelerated slightly from a 31.1% rise in the second quarter to a 30.7% increase in the third. As a result, the contribution from external sector to economic growth swung from plus 2.3 percentage points in the second quarter to minus 2.0 percentage points in the third.
Economy continues its robust expansion in the third quarter
December 9, 2011
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Estonia Economic News
October 14, 2016
In September, consumer prices inched up from a 0.1% month-on-month increase in August to 0.2%.
September 30, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 1.0% over the same month last year in August, which came in below the 2.2% increase registered in July.
September 8, 2016
In the second quarter, the economy expanded a modest 0.8% over the same quarter of the previous year, according to the revised data published by Statistics Estonia (SE) on 8 September.
September 7, 2016
In August, growth in consumer prices inched up from a flat reading in July to 0.1%.
August 31, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 2.2% over the same month last year in July, which contrasted the revised 3.6% contraction registered in June (previously reported: -4.6% year-on-year).