Estonia Economic Outlook
January 30, 2018Domestic economic activity appears to have lost some steam in the fourth quarter from the previous one, but remained buoyant nonetheless. Industrial production in November expanded at the slowest pace in year-on-year terms since August 2016, and retail sales contracted in the same month owing in part to higher inflationary pressures. Retail sales were lower despite declining unemployment, which dropped in November to the lowest rate since June 2008. Contrasting slower growth in the domestic economy, growth in the external sector picked up. Exports expanded at a solid rate in both October and November thanks to improved demand from Estonia’s main trading partners. The expansions observed in the first two months of Q4 were spearheaded by robust sales of mineral products as the shale oil industry recovers on the back of higher prices for energy products.
Estonia Economic GrowthEconomic growth is set to decelerate in 2018 and 2019 from 2017’s multi-year high but is expected to remain buoyant. Inflows of EU funds will boost growth investment, and changes to the income tax system will boost growth in private consumption. FocusEconomics panelists project that GDP will expand 3.1% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel expects GDP growth of 2.9%.
Estonia Economy Data
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|Exchange Rate||1.23||0.65 %||Feb 22|
|Stock Market||1,284||-0.38 %||Feb 22|
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Estonia Economic News
February 22, 2018
Consumer prices rose 0.4% in January compared to the previous month, marginally up from December’s 0.4% month-on-month increase.
February 7, 2018
According to Statistics Estonia, growth in industrial production jumped from a revised working-day adjusted 2.7% year-on-year increase in November to a 7.1% increase in December, a six-month high.
January 17, 2018
Consumer prices dropped 0.3% in December compared to the previous month, contrasting the 0.5% month-on-month increase observed in November.
December 15, 2017
Consumer prices rose 0.5% in November compared to the previous month, contrasting the 0.2% month-on-month decrease in October.
November 30, 2017
According to Statistics Estonia, growth in industrial production accelerated from a revised working-day adjusted 4.5% year-on-year increase in September (previously reported: +4.1% year-on-year) to a 6.2% expansion in October.