Estonia: GDP moderates slightly in Q3, exports rebound to growth
November 11, 2014
According to the flash estimate released by Statistics Estonia (SE) on 11 November, Q3 GDP expanded 2.1% over the same period of last year. The result was slightly below the 2.4% growth recorded in Q2.
In seasonally and working-day adjusted terms, GDP increased 0.2% quarter-on-quarter, which was weaker than the 0.5% expansion tallied in the second quarter.
According to SE, the expansion in Q3 mainly was driven by growth in the manufacturing sector, particularly of electronics and wood. Moreover, exports increased 6.6% in Q3, which marked the first growth after declines were registered in the four previous quarters. A more complete dataset for national accounts will be released on 9 December.
Author: Carl Kelly, Economist