Estonia: Stable economic growth continued

According to Statistics Estonia, the gross domestic product (GDP) of Estonia grew 4.2% in the 3rd quarter of 2019 compared to the same period of the previous year. The Estonian GDP was 7 bn euros at current prices.

The seasonally and working day adjusted GDP grew 1.0% compared to the previous quarter. Compared to the 3rd quarter of 2018, the seasonally and working day adjusted GDP grew 4.1%.

The biggest contributor to economic growth for the second quarter in a row was information and communication. Contribution to economic growth indicates the share of the growth of an economic activity’s added value in GDP growth. Information and communication was followed by agriculture, forestry and fishing; professional, scientific and technical activities; wholesale and retail trade; manufacturing; transportation and storage. The last time agriculture, forestry and fishing had such a strong impact was in the 2nd quarter of 2018. The most notable negative impact on the economic growth came from electricity, gas, steam and air conditioning supply. Also construction had a significant negative impact.

(Source: http://www.baltic-course.com/eng2/analytics/?doc=152865)

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