GDP flash estimate: the economy contracted by 0.7% in Q3
According to Statistics Estonia’s preliminary estimate, the decline in the gross domestic product (GDP) slowed down in the third quarter of 2024. The GDP fell by approximately 0.7% compared with the third quarter of 2023.
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.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)