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.