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Robert Müürsepp, team lead of national accounts at Statistics Estonia, said that, compared with the previous quarter, the economy was stable. “Compared with the second quarter of 2024, the seasonally and working-day adjusted GDP was up by 0.1%,” noted Müürsepp. According to Eurostat , the EU economy showed slightly faster growth in the third quarter, as the increase in GDP was 0.9% year on year. Statistics Estonia will publish more detailed GDP data for the third quarter of 2024 on 29 November . See also the GDP flash estimate in the statistical database . Learn more about national accounts

According to Statistics Estonia, in the fourth quarter of 2023, the gross domestic product (GDP) decreased by 2.7% compared with the same period of 2022. The GDP at current prices was 9.9 billion euros in the fourth quarter. In 2023 as a whole, Estonia’s GDP decreased by 3% and amounted to 37.7 billion euros at current prices.

According to Statistics Estonia, in the first quarter of 2024, the gross domestic product (GDP) decreased by 2.4% compared with the same period of 2023. The GDP at current prices amounted to 8.9 billion euros.

Kaia Oras, a leading expert at Statistics Estonia, explained that the growth in demand for environmental goods and services has been due to both increased awareness of environmental problems as well as higher environmental and energy saving requirements, especially in construction. “The rapid growth in energy-efficient new construction and reconstruction of buildings has a huge impact. Together, these generated €1.5 billion in output,” Oras added. Among the energy produced from renewables, electricity and heat production from renewable energy sources accounted for €482.2 million and the

According to Statistics Estonia’s preliminary estimate, the decline in the gross domestic product (GDP) slowed down in the first quarter of 2024. The GDP fell by about 2.1% compared with the first quarter of 2023.

Robert Müürsepp, the national accounts team lead at Statistics Estonia, said that the GDP, which had shown growth in the fourth quarter last year, was again down a little in the first quarter this year. “A month ago, we published a model-based flash estimate which suggested that the economy might be slightly improving. However, the flash estimate underestimated some irregular factors in the fourth quarter. Vehicle sales were exceptionally high in the fourth quarter in anticipation of the introduction of the motor vehicle tax from 2025. But the model could not fully foresee the significant

According to Statistics Estonia's preliminary estimate, gross domestic product (GDP) continued to decline in the fourth quarter of 2023. GDP fell by approximately 3% compared with the fourth quarter of 2022.