Estonia: Real GDP down 2.9% on year in Q2/2023: statistics

Estonia’s GDP totalled EUR 9.42bn at current prices in the the second quarter of 2023, which was up 5.1% from the same period of 2022, according to data from Statistics Estonia, ERR reports. Real GDP fell by 2.9% over a year, however. Compared to the first quarter of 2023, seasonally adjusted real GDP decreased by 0.2%. There was a fall in value added in most economic activities and in tax revenue, while trade and real estate sectors made a positive contribution. The Estonian economy has declined for three consecutive quarters now. Investments fell by 18.7% and private consumption by 3.3% over a year. Exports dropped by 6% and imports by 9.1%.

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