Estonian economy contracts by 1.7% in second quarter
According to Statistics Estonia's flash estimate, the decline in the Gross Domestic Product (GDP) in the second quarter of 2024 slowed. Compared to the second quarter of 2023, the GDP decreased by approximately 1.7 percent.
Compared to the first quarter of 2024, the seasonally and working-day-adjusted GDP remained at the same level, increasing by 0.2 percent.
According to Eurostat, the European Union's economy also showed better performance in the second quarter, with the EU's GDP growing by 0.7 percent.
However, Estonia's economy has been in decline since the second quarter of 2022.
Statistics Estonia will release a more detailed estimate of the GDP for the second quarter of 2024 on August 30.
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Editor: Marcus Turovski
