Estland BIP Veränderung zum Vorjahr

The Estonian economy contracted 0.7% year-on-year in Q3 of 2024, unchanged from a revised figure in the previous period. It was the tenth straight quarter of decline but the softest decrease since Q3 of 2022, with investments slumping by 15.2% (vs 8.3% in Q2), mainly weighed down by non-financial corporations and investments in the government sector. Also, private consumption dropped further (-2.1% vs -1.1%), amid a decline in spending on other goods and services; clothing & footwear, furnishing & food. Meanwhile, net trade continued to show a modest improvement, with exports rebounding (0.1% vs -1.0%) while imports fell 1.3% after showing no growth in Q2. By contrast, government spending accelerated slightly (1.4% vs 1.2%). On the production side, output shrank mainly for construction and manufacturing. On a seasonally adjusted quarterly basis, the GDP showed no growth, after a revised 0.1 expansion in the previous quarter.