According to Statistics Estonia, the GDP of Estonia in 2014 increased 2,1% compared to 2013. The GDP at current prices was 19.5 billion euros. The year was characterised by a slow steady growth of the Estonian economy. Trade contributed significantly to the increase in the GDP, mainly due to an increase in value added in retail trade. In addition, manufacturing and professional, scientific and technical activities contributed the most to the GDP growth in 2014.
Full press release available at: http://www.stat.ee/90545
Estonia´s Foreign Trade – according to Statistics Estonia, in 2014, the exports of goods from Estonia accounted for 12,1 billion euros and imports to Estonia for 13,7 billion euros. Trade in 2014 remained at the same level as in 2013. Main countries of destination were Sweden (18% of Estonia´s total exports), Finland (15,3%) and Latvia (10,7%). The main countries of consignment were Finland (15,2% of Estonia´s total imports), Germany (11,5%) and Sweden (8,7%).
Among commodity sections, the first place was held by the section of machinery and equipment accounting for 29% of the total exports of Estonia in 2014. It was followed by mineral products, which accounted for 11% and agricultural products and food preparations (10%). In the imports of goods to Estonia, machinery and equipment also held the biggest share (28% of Estonia´s total imports), followed by mineral products (13%) and agricultural products and food preparations (11%).
Full press release available at: http://www.stat.ee/90681
According to the spring forecast (April 2015) of the Ministry of Finance, the Estonian economy will grow 2% this year and 2.8% in 2016. The Ministry of Finance has adjusted the economic forecast for this and next year downwards, mostly because of the deterioration in the growth prospects of Estonia’s main trading partners.
Full press release available at: http://www.fin.ee/domestic-demand-remains-the-driving-force-of-the-estonian-economy/
In a fresh forecast (5, May 2015) the European Commission expects the Estonian economy will grow 2.3% in 2015 and 2.9% in 2016, as the global outlook improves.
Full press release available at: http://ec.europa.eu/economy_finance/eu/forecasts/2015_spring/ee_en.pdf