Estonia GDP


Estonia: GDP growth picks up in Q2

August 11, 2015

According to the flash estimate released by Statistics Estonia (SE) on 11 August, the Estonian economy expanded 1.9% in Q2 2015 over the same quarter last year. The result marked an acceleration from the 1.1% growth tallied in Q1. According to SE, growth was driven by increases in the real estate, manufacturing and agriculture sectors. In contrast, growth was held back by ongoing declines in the external sector. Exports fell 2.0% in the second quarter.

In seasonally- and working-day adjusted terms, GDP increased 0.8% quarter-on-quarter in Q2, which contrasted the 0.3% contraction tallied in the first quarter. More detailed data for national accounts will be released on 8 September.

The Government expects GDP growth to reach 2.0% in 2015 and 2.8% in 2016. FocusEconomics Consensus Forecast participants see the economy growing 2.0% in 2015, which is down 0.1 percentage points from last month’s estimate. In 2016, economic growth is expected to accelerate to 2.7%.

Author:, Economist

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Estonia GDP Chart

Estonia GDP Q2 2015

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

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