The Estonian economy grew 4.3% yoy in the first quarter of 2022, slowing from an 8.6% expansion in the previous period, pointing to the weakest growth since the first quarter 2021, amid ending low base effects last year. Private consumption rose by 8.3% (vs 7.9% in Q4) mainly boosted by restaurants, clothing and footwear, transport, and recreation and entertainment. Also, net external demand contributed positively to the GDP growth, as exports grew by 12.9%, while imports increased at a softer 4.4%. Meanwhile, investments dropped by 12.9%, due to the decline in enterprises’ investments in computer software and databases (-84.5%). On the production side, the most positive contributions to the GDP came from information and communication, manufacturing, transportation and storage, and professional, scientific and technical activities. On a seasonally adjusted quarterly basis, the GDP grew by 0.1% in the first quarter, following a downwardly revised 1.3% expansion in the fourth quarter. source: Statistics Estonia
GDP Annual Growth Rate in Estonia averaged 4.18 percent from 1996 until 2022, 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 July 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.