Estonia GDP


Estonia: GDP growth eases in Q3

November 11, 2015

According to the flash estimate released by Statistics Estonia (SE) on 11 November, the Estonian economy increased 0.5% in Q3 2015 over the same quarter last year. The result marked a deceleration from the 1.9% growth tallied in Q2. According to SE, growth was driven by an increase in the real estate sector. Manufacturing and trade activities, often the main contributors to GDP growth, tallied close to flat growth in this quarter.

In seasonally- and working-day adjusted terms, GDP dropped 0.5% quarter-on-quarter in Q2, which contrasted the 0.7% expansion tallied in the second quarter (previously reported: +0.8%). More detailed data for national accounts will be released on 9 December.

The Government expects GDP growth to reach 2.2% in 2015 and 3.1% in 2016. FocusEconomics Consensus Forecast participants see the economy growing 1.9% in 2015, which is unchanged from last month’s estimate. In 2016, economic growth is expected to accelerate to 2.7%, which is unchanged from last month’s forecast.

Author: Jean-Philippe Pourcelot, Economist

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Estonia GDP Chart

Estonia GDP Q3 2015

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

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