Estonia: Estonian economy grows at the slowest pace in three years
August 11, 2016
According to a flash estimate issued by Statistics Estonia (SE) on 11 August, the Baltic economy decelerated from Q1’s 1.7% growth in annual terms to 0.6% in Q2. Q2’s deceleration marked the slowest expansion in three years. According to SE’s preliminary estimates, growth was “negatively influenced by net taxes on products” which dragged down an expansion in exports.
In seasonally- and working-day adjusted terms, GDP increased 0.3% quarter-on-quarter in the second quarter, which marked a softer expansion than the 1.2% increase tallied in the first quarter. More detailed data for national accounts will be released on 8 September.