Agriculture behind third quarter economic growth

Ardo Hansson.
Ardo Hansson. Source: Siim Lõvi /ERR

Agriculture was one of the main contributors to Estonia's economic growth in the third quarter, the former governor of the Bank of Estonia told Postimees.

"If economic growth accelerated by 0.6 percent, agriculture accounts for about 0.4 percent, or two-thirds of that acceleration," Hansson wrote in Wednesday's Postimees, citing growth accelerating from 3.6 percent in the second quarter to 4.2 percent in the third quarter.

Hansson cites Eurostat data showing that agricultural labor productivity increased in 17 EU countries and declined in 11 countries, with Denmark showing the highest increase of 68 percent, followed by Estonia with 38 percent.

"Such rapid growth in Estonia could not come from increased hard work or cleverness. The main factor was the significantly better weather conditions, especially for grain production," Hansson points out, and also points to the October crop survey released by Statistics Estonia.


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Editor: Helen Wright

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