The Estonian economy advanced 4.2 percent year-on-year in the third quarter of 2019, following an upwardly revised 3.8 percent growth in the previous period. Government spending expanded faster (3.8% vs 0.9% in Q2). Meantime, both of fixed investment (8.1% vs 24.6%) and private consumption (1.2% vs 2.4%) increased softer. On the other hand, net exports contributed positively to the GDP growth, as exports grew by 7.0 percent (vs 3.3%), while imports rose at a softer 4.4 percent (vs 5.4%). On the production side, the main contributors to economic growth were information and communication; agriculture, forestry and fishing; professional, scientific & technical activities; wholesale and retail trade, and manufacturing, transportation and storage. On a seasonally adjusted quarterly basis, the GDP went up by 1.0 percent in the third quarter, accelerating from an upwardly revised 0.8 percent growth in Q2. GDP Annual Growth Rate in Estonia averaged 4.26 percent from 1996 until 2019, reaching an all time high of 13.20 percent in the fourth quarter of 1997 and a record low of -19.30 percent in the third quarter of 2009.

GDP Annual Growth Rate in Estonia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Estonia to stand at 2.80 in 12 months time. In the long-term, the Estonia GDP Annual Growth Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.

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Estonia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.20 3.80 13.20 -19.30 1996 - 2019 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-02-28 06:00 AM Q4 4.2% 4.0% 3.3%
2019-05-31 05:00 AM Q1 4.5% 4.3% 4.3%
2019-08-30 05:00 AM Q2 3.6% 5.0% 3%
2019-11-29 06:00 AM Q3 4.2% 3.8% 2.9%
2020-02-28 06:00 AM Q4 4.2% 4%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
2019-08-30
Estonian Q2 GDP Growth Weakest in 5 Quarters
The Estonian economy advanced 3.6 percent year-on-year in the second quarter of 2019, following an upwardly revised 5 percent growth in the previous period. It was the weakest annual GDP growth rate since the first quarter 2018, amid a slowdown in private consumption (1.1% vs 5.4%) and government spending (0.7% vs 5.9%), while net exports contributed negatively to the GDP growth, as exports grew by 2.2 percent (vs 4.7%), while imports rose at a faster 5.0 percent (vs 4.1%). Meantime, fixed investment continued to rise (24.6% vs 17.8%). On the production side, the main contributors to economic growth were information and communication; professional, scientific & technical activities; wholesale and retail trade, and manufacturing. On a seasonally adjusted quarterly basis, the GDP went up by 0.4 percent in the second quarter, slowing from an upwardly revised 0.9 percent growth in Q1.

2019-05-31
Estonian Q1 GDP Growth Strongest in 5 Quarters
The Estonian economy advanced 4.5 percent year-on-year in the first quarter of 2019, following an upwardly revised 4.3 percent growth in the previous period. It was the highest annual growth rate since the last quarter 2017, amid a strong rise in government spending (5.4% vs 2.2% in Q4). Also, net exports contributed positively to the GDP growth, as exports grew by 4.6 percent (vs 5.9%), while imports rose at a softer 3.8 percent (vs 6.5%). Meantime, both fixed investment (17.1% vs 17.7%) and private consumption (2.8% vs 5.5%) continued to increase. On the production side, the main contributors to economic growth were information and communication; professional, scientific & technical activities; information & communication; wholesale and retail trade, agriculture, forestry, and fishing, and transportation & storage. On a seasonally adjusted quarterly basis, the GDP went up by 0.5 percent in the first quarter, slowing from a downwardly revised 2.1 percent growth in fourth quarter.

2019-02-28
Estonian Q4 GDP Annual Growth Strongest in A Year
The Estonian economy advanced 4.2 percent year-on-year in the fourth quarter of 2018, following a downwardly revised 4.0 percent growth in the previous period. It was the highest annual growth rate since the last quarter 2017, amid a strong rise in fixed investment (17.7% vs 4.2% in Q3). Also, private consumption rose faster (5.1% vs 4.5%) and government spending rebounded (2.2% vs -0.8%). Meantime, net exports contributed negatively to the GDP growth, as imports rose by 6.1 percent (vs 6.6%), while exports grew softer at 4.9 percent (vs 1.9%).On the production side, the main contributors to economic growth were construction; manufacturing; professional, scientific & technical activities; information & communication; and transportation & storage. In 2018, the economy grew 3.9 percent, compared to a 4.9 percent growth in 2017. On a seasonally adjusted quarterly basis, the GDP rose by 2.2 percent in Q4, accelerating from a downwardly revised 0.3 percent growth in Q3.


Estonia GDP Annual Growth Rate
More than 71 percent of the Estonian GDP is derived from the service sectors, 25 percent from industry and 4 percent from agriculture. The most important sectors of the Estonian economy are: real estate, rental and letting, and business services (21 percent of GDP); the processing industry (15 percent), commerce (14 percent); transport, warehousing and communications (10 percent) and construction (7 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 52 percent of its total use, followed by gross fixed capital formation (25 percent, one of the highest among EU countries) and government expenditure (20 percent). Exports of goods and services account for 84 percent of GDP while imports account for 81 percent, adding 3 percent of total GDP.

Estonia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 0.80 4.80 -9.10 percent [+]
GDP Annual Growth Rate 4.20 3.80 13.20 -19.30 percent [+]
GDP 30.28 26.61 30.28 3.90 USD Billion [+]
GDP Constant Prices 6111.54 6221.07 6253.91 2149.07 EUR Million [+]
Gross Fixed Capital Formation 1619.82 1714.11 1755.73 296.16 EUR Million [+]
GDP per capita 19948.90 19257.50 19948.90 6840.10 USD [+]
GDP per capita PPP 30990.51 29916.36 30990.51 10626.06 USD [+]
GDP From Agriculture 163.67 82.17 218.36 31.98 EUR Million [+]
GDP From Construction 441.41 432.87 470.80 64.54 EUR Million [+]
GDP From Manufacturing 841.79 904.89 904.89 217.02 EUR Million [+]
GDP From Mining 71.68 88.42 106.39 24.42 EUR Million [+]
GDP From Services 93.33 87.83 97.98 27.32 EUR Million [+]
GDP From Transport 530.90 518.44 530.90 178.40 EUR Million [+]