The Estonian economy advanced 8.6% year-on-year in the fourth of 2021, accelerating from a downwardly revised 8.3% growth in the previous period, amid low base effects last year. Private consumption grew by 7.9 percent (vs 7.5 percent in Q3) mainly boosted by restaurants and hotels, communication, and clothing and footwear. Also, net external demand contributed positively to the GDP growth, as exports grew by 22.6 percent, while imports fell by 2.6 percent. Meanwhile, investments fell by 38.4%, but this was due to the exceptionally high reference base. On the production side, the most positive contributions to the GDP came from information and communication, transportation and storage, and professional, scientific and technical activities. On a seasonally adjusted quarterly basis, the GDP expanded by 1.8% in the fourth quarter, following an upwardly revised 1.0% gain in the third quarter. In 2021 as a whole, the economy grew by 8.3 percent. source: Statistics Estonia
GDP Annual Growth Rate in Estonia averaged 4.19 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 May of 2022.
GDP Annual Growth Rate in Estonia is expected to be 0.70 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 2023 and 3.40 percent in 2024, according to our econometric models.