The Estonian economy advanced 8.6% year-on-year in the third of 2021, slowing from an upwardly revised 13.0% surge in the previous period, amid diminishing low base effects last year. Private consumption grew by 8.7 percent (vs 12.7% in Q2), mainly boosted by transport, clothing and footwear, leisure and entertainment, and hotels and restaurants. Also, foreign trade continued to rise, as exports and imports grew equally by 17.5 percent. Meanwhile, government spending continued to expand (4.2% vs 2.5% in Q2). On the production side, the most positive contributions to the GDP came from manufacturing, construction, transportation and storage, information and communication, and scientific and technical activities. On a seasonally adjusted quarterly basis, the GDP expanded by 0.7% in the third quarter, following a downwardly revised 2.3% growth in the second quarter. 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 December 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.