Robert Müürsepp, the agency's national accounts service manager, said several indicators point to broad-based strengthening, with growth faster both year on year and quarter on quarter.

SEB economist: Demand in export destination countries has helped

SEB economist Mihkel Nestor noted that 2.2 percent is roughly in line with the first and second quarters, when GDP grew 2.9 percent and 1.8 percent respectively. The flash estimate does not give more detailed sources of growth, but exports and domestic consumption probably both contributed.

"Demand growth in our main target markets has above all improved goods exports, which had long been in the doldrums. Household consumption has also clearly recovered this year, helped by wage growth of nearly six percent and the lowest inflation in recent times. On the other hand, rising energy prices are now accelerating inflation again, which will start to slow consumption growth. Investment has so far remained modest, but the growth in companies' borrowing activity suggests the coming quarters may bring better results in that area," Nestor said.

Nestor added that forecasts so far have predicted further acceleration of economic growth in 2027, but higher inflation and rising interest rates could trim those forecasts. On the other hand, the situation in the Estonian economy is certainly the best in recent years and moderate growth will continue next year.

A flash estimate is produced using statistical models rather than full accounting, drawing on trade, transport, manufacturing, tax and energy data, so it is not methodologically comparable to the official GDP figure.

Official third-quarter GDP data will be published by Statistics Estonia on November 30.

More detailed information is available from Statistics Estonia's website here and here.

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