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.

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Estonia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-11-30 06:00 AM Q3 8.6% 13.0% 9.2%
2022-03-01 06:00 AM Q4 8.6% 8.3% 7.5%
2022-05-31 05:00 AM Q1 8.6% 4.3%


Related Last Previous Unit Reference
GDP Growth Rate 1.80 1.00 percent Dec 2021
GDP Annual Growth Rate 8.60 8.30 percent Dec 2021
GDP Constant Prices 6993.40 6528.30 EUR Million Dec 2021
Gross Fixed Capital Formation 1883.70 1740.30 EUR Million Dec 2021
GDP From Transport 622.20 563.50 EUR Million Dec 2021
GDP From Services 77.40 85.70 EUR Million Dec 2021
GDP From Mining 63.10 73.00 EUR Million Dec 2021
GDP From Manufacturing 879.40 832.50 EUR Million Dec 2021
GDP From Construction 434.80 485.90 EUR Million Dec 2021
GDP From Agriculture 126.50 186.80 EUR Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
8.60 8.30 14.10 -19.40 1996 - 2021 percent Quarterly
NSA

News Stream
Estonian GDP Growth Accelerates to 8.6% YoY in Q4
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.
2022-03-01
Estonian GDP Annual Growth Slows in Q3
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.
2021-11-30
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