GDP flash estimate: Estonian economy to stay in recession

View across town from an office at the Ministry of Finance in Tallinn.
View across town from an office at the Ministry of Finance in Tallinn. Source: Siim Lõvi/ERR

A preliminary report by Statistics Estonia suggests the Estonian economy shrank by nearly 3 percent in the second quarter year-over-year.

Robert Müürsepp, who heads the gross domestic product working group at Statistics Estonia, said that the recession has slowed a little compared to previous periods.

GDP adjusted seasonally and for number of working days remained unchanged from the first quarter.

SKP kiirhinnang 2023. aasta teise kvartali seisuga Autor/allikas: Statistikaamet

GDP flash estimate in current prices, seasonally and adjusted for working days.

Estonia's Q1 GDP fell 3.2 percent compared to the same period last year.

More precise second quarter data will be published on the last day of August.

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Editor: Marcus Turovski

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