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Economic growth slowed to 1.1% in 2015

11.03.2016

Swedbank

  • In 2015, economic growth amounted to 1.1% in Estonia as the volumes of stocks and exports decreased.
  • We expect GDP growth to accelerate to 2.3% in 2016 on the back of higher exports and investments.

In 2015, economic growth reached 1.1% in Estonia. Estonia registered one of the lowest GDP growth rates in the EU. By sectors, GDP was negatively influenced by a decrease in the value added in transportation, construction, and manufacturing.

Transportation has been hit by lower trade volumes with Russia. The value added of construction decreased mainly due to a decrease in the construction of structures and repair of buildings. Manufacturing was affected by a decline in export demand and output prices. An increase in the value added of agriculture, professional activities, and domestic trade had a positive contribution to GDP growth.

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The contribution of net exports was positive because export volumes fell less than import volumes. Domestic demand fell, mostly because of smaller inventories. Private and public consumption grew. Households’ expenditures on food, recreation and transport supported private consumption. Investment volumes fell due to lower investment volumes of enterprises in equipment and transport. Public investment volumes increased.

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GDP growth in Estonia is expected to accelerate this year on the back of stronger export demand as economic activity in the European Union is expected to accelerate. Investment figures will be supported by higher external demand, low interest rates and higher volumes of public investment. Private consumption growth will slow as wage earners’ real income growth will be lower.

Seonduvad uudised

  • 14.09.2015 Moderate economic growth, yet risks have increased
    Economic statistics for the past week revealed that the Estonian economy grew a lot more last year than was previously thought. The growth of GDP in the second quarter can also be regarded as being good. At the same time,&helli         
  • 07.10.2015 Eastern European Outlook, October 2015
    The dual-track economic picture in Eastern (including Central) Europe will persist over the next two years. Conflict-plagued Russia and Ukraine will show continued weakness. In Russia, recession will linger during 2016 too, as plunging oil prices reb         
  • 31.08.2016 SEB Nordic Outlook: moderate growth regardless of political insecurity
    The events in the economy and politics over the last half-year have been unexpected. The UK referendum, the state of the US presidential election, the increase in popularity of extremist parties in Europe, and the diverging from democracy in some         
  • 11.02.2016 Weak export demand behind the sluggish economic growth
    According to the flash estimate of Statistics Estonia, GDP grew by 0.7% yoy in Estonia in 4Q 2015. The growth rate met our expectations. Compared to the previous quarter, GDP grew by 1.2% (seasonally and working day adjusted). In 2015,         

Meist

Tõnu Toompark on kinnisvaraanalüütik, -konsultant ja koolitaja, kelle tegevusvaldkonnad on valdavalt: * elamispindade turg, turutrendid, tehingud, hinnad ning turuülevaated; * uute korterite arendamise mahud, müük, hinnad ja analüüsid; * üürituru pakkumine, tehingud ja hinnad ning üüriinvesteeringud, tasuvusarvutused; * elamispindade kättesaadavus numbrilisena; * koolitused eeltoodud valdkondades. Koolituste valdkonnaga on Tõnu Toompark seotud üle 25 aasta. Ta on avaldanud sadu ja sadu kinnisvarateemalisi analüüse, artikleid ja kommentaare. Tõnu Toompark on läbi viinud koolitusi nii kesk-, kutse-, kõrg-, kui ülikoolides, lisaks mitmetes koolitusettevõtetes. Näiteks Kinnisvarakool, Tallinna Tehnikaülikool, Eesti Ettevõtluskõrgkool Mainor, Estonian Business School, Tartu Ülikool, Tallinna Majanduskool.

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Kinnisvarakool & koolitus: Kinnisvaramaakleri persoonibränd ja digitaalne turundus