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Financial News: Estonia GDP Growth Rises In Q3

Estonia GDP Growth Rises In Q3

11/29/2019 - 06:33:00 (RTTNews)

(RTTNews) - Estonia's economy grew in the third quarter after easing in the previous three months, Statistics Estonia reported on Friday.

Gross domestic product grew 4.2 percent year-on-year in the third quarter, after a 3.8 percent rise in the previous quarter.

On a quarter-on-quarter basis, the economy shrunk 2.0 percent after a 2.3 percent contraction in the previous month.

On a seasonally and working day adjusted basis, GDP grew 1.0 percent quarterly in the third quarter and expanded 4.1 percent annually.

The biggest contributor to economic growth for the second quarter in a row was information and communication, the agency said.

Data showed that domestic demand grew 3.9 percent from a year ago, driven by an 8.1 percent rise in gross fixed capital formation.

Exports of goods and services gained 7.0 percent in the third quarter and imports of goods and services grew 4.4 percent.

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