The Gross Domestic Product (GDP) in Estonia expanded 8.60 percent in the third quarter of 2021 over the same quarter of the previous year. source: Statistics Estonia

GDP Annual Growth Rate in Estonia averaged 4.15 percent from 1996 until 2021, reaching an all time high of 14.10 percent in the fourth quarter of 1997 and a record low of -19.40 percent in the third quarter of 2009. This page provides - Estonia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Estonia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

GDP Annual Growth Rate in Estonia is expected to be 5.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Estonia GDP Annual Growth Rate is projected to trend around 3.80 percent in 2022 and 4.00 percent in 2023, according to our econometric models.

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Estonia GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-31 05:00 AM Q2 12.9% 4.1% 7.8%
2021-11-30 06:00 AM Q3 8.6% 12.9% 9.2%
2022-03-01 06:00 AM Q4


Related Last Previous Unit Reference
GDP Growth Rate 0.70 4.30 percent Sep/21
GDP Annual Growth Rate 8.60 12.90 percent Sep/21
GDP Constant Prices 6333.00 5856.60 EUR Million Jun/21
Gross Fixed Capital Formation 2240.80 2036.40 EUR Million Jun/21
GDP From Transport 608.10 500.50 EUR Million Jun/21
GDP From Services 55.00 38.40 EUR Million Jun/21
GDP From Mining 82.00 63.40 EUR Million Jun/21
GDP From Manufacturing 856.20 801.90 EUR Million Jun/21
GDP From Construction 415.30 279.50 EUR Million Jun/21
GDP From Agriculture 53.40 79.80 EUR Million Jun/21

News Stream
Estonian GDP Annual Growth Strongest Since 1997
The Estonian economy advanced 12.9% year-on-year in Q2 of 2021, following a downwardly revised 4.1% expansion in the previous period. It was the strongest growth in the GDP since the fourth quarter 1997, due to a low base effect last year. Private consumption grew by 12.5 percent (vs -2.7% in Q1), mainly boosted by transport, clothing and footwear, leisure and entertainment, and hotels and restaurants. Also, foreign trade continued reaching for new heights, as exports grew by 32.3 percent and imports by 54.9 percent, respectively. Meanwhile, government spending continued to expand (2.6% vs 6.9% in Q1). On the production side, the most positive contributions to the GDP came from manufacturing, transportation and storage, and information and communication. On a seasonally adjusted quarterly basis, the GDP expanded by 4.3% in Q2, following a downwardly revised 3.9% growth in Q1.
2021-08-31
Estonian Q1 GDP Grows for 1st Time in 5 Quarters
The Estonian economy advanced 5.4% year-on-year in Q1 of 2021, rebounding sharply from a 1.2% contraction in the previous period. It was the first time expansion in the economy since the fourth quarter of 2019, mainly due to the impact of taxes, primarily the good receipts of value added tax and excise duties. Government spending expanded faster (7.2% vs 4.8% in Q4), mostly due to higher health care spending related to the coronavirus. Also, foreign trade that started growing at the end of last year continued in the same direction, with exports and imports of goods increased by 5% and 12%, respectively. Meanwhile, private consumption continued to shrink (-3.3% vs -1.1% in Q4). On the production side, the most positive contributions to the GDP came from trade, information and communication, and financial and insurance activities. On a seasonally adjusted quarterly basis, the GDP expanded by 4.8% in Q1, following an upwardly revised 2.8% growth in Q4 2020.
2021-05-31
Estonian Q4 Economy Shrinks at Softer Pace
The Estonian economy shrank 1.2% year-on-year in Q4 of 2020, following an upwardly revised 2.5% drop in the previous period. It was the fourth straight quarter of contraction in the economy, as private consumption continued to shrink (-1.3%, the same pace as in Q3). Foreign trade fared well despite the restrictions on international transport. Both the import and export of goods were boosted by trade in electronic equipment and chemical products - by 14.4% and 8.7%, respectively. By contrast, government spending expanded by 4.8%, mostly due to higher health care spending related to the coronavirus (vs 5.5% in Q3). On the production side, negative contributions to GDP came from the agriculture, forestry and fishing, accommodation and food service activities, and administrative and support service activities. On a seasonally adjusted quarterly basis, the GDP grew by 2.1% in Q4, after a downwardly revised 2.5% expansion in Q3. In 2020 as a whole, the economy shrank by 2.9 percent.
2021-03-01

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.