National accounts

The Estonian economy grew last year

news release no 22

According to Statistics Estonia, in 2016, the gross domestic product (GDP) of Estonia increased 1.6% compared to 2015. In the 4th quarter of 2016, the Estonian economy grew 2.7% compared to the 4th quarter of 2015.

Contribution to the GDP growth, 4th quarter 2016

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The share of the service sector in counties has grown

news release no 141

According to Statistics Estonia, differences in the economic structures of counties have increased, while the majority of the value added generated in the Estonian economy was still created in Harju County. 69% of the gross value added in Estonia was created in the service sector, the share of which has increased in seven counties in the last four years.

Map: GDP per capita

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In the 3rd quarter, economic growth was driven by transportation, trade and the energy sector

news release no 137

According to the second estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 1.3% in the 3rd quarter of 2016 compared to the 3rd quarter of the previous year. The biggest contribution to GDP growth was made in the economic activity of transportation, followed by trade and the energy sector.

Diagram: Real growth of GDP and of domestic demand, compared to the same quarter of the previous year, 1st quarter 2010 – 3rd quarter 2016

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The economy grew 1.1% in the 3rd quarter

news release no 124

According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 1.1% in the 3rd quarter of 2016 compared to the 3rd quarter of the previous year.

Diagram: GDP, real growth of the export of goods and value added in the industrial sector

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Progress of Estonian economy in light of European non-financial accounts

article
Robert Müürsepp
– Eesti Statistika Kvartalikiri. 3/16. Quarterly Bulletin of Statistics Estonia (p. 74)

Besides gross domestic product (GDP), national accounts include a number of other indicators, which provide valuable additional information for assessing the welfare of a region and can therefore drastically alter the understanding of trends prevailing in the economy. The article gives an overview of the nonfinancial accounts in this accounting system and compares the indicators of Estonia to those of other European Union countries.

Publication cover

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