Estonia GDP Q1 2016


Estonia's economy gains momentum at the outset of 2016

According to a flash estimate issued by Statistics Estonia (SE) on 12 May, the Baltic economy grew at a faster 1.7% in Q1 2016 over the same quarter last year. Economic growth accelerated from the 0.7% growth recorded in Q4 2015. According to SE’s preliminary estimates, economic growth was driven foremost by added value in trade. In addition, domestic demand was robust, while slowing foreign demand and a weak energy sector likely limited growth.

In seasonally- and working-day adjusted terms, GDP increased 1.2% quarter-on-quarter in Q1, which is the same reading tallied in the fourth quarter. More detailed data for national accounts will be released on 9 June.

The Central Bank expects GDP growth to reach 2.2% in 2016 and 3.1% in 2017. Analysts polled by FocusEconomics foresee the economy growing 2.2% in 2016, which is down 0.1 percentage points from last month’s estimate. In 2017, economic growth is expected to accelerate to 2.7%.

Author:, Economist

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Estonia GDP Chart

Estonia GDP Q1 2016

Note: Year-on-year changes of working day adjusted GDP in %.
Source: Statistics Estonia and FocusEconomics Consensus Forecast.

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