Bloomberg News

Estonian GDP Grew as Much as 6% in Fourth Quarter, Ministry Says

February 03, 2012

Feb. 3 (Bloomberg) -- Estonia’s economy probably expanded 5 percent to 6 percent from a year earlier in the fourth quarter, the Finance Ministry said, citing slower electronics exports and warmer weather.

The $19 billion economy probably “was little changed” compared with the previous quarter on seasonally adjusted basis, Madis Aben, an analyst with the ministry’s fiscal policy department in the capital, Tallinn, said today in an e-mailed response to Bloomberg questions. The national statistics office is due to release the data on Feb. 10.

“Developments are uneven sector by sector, and growth is continuing in several sectors, but production volumes and exports in the electronics sector have significantly declined from the high levels a year ago,” Aben said. “The energy sector was also negatively affected by electricity prices and” higher temperatures.

--Editors: Andrew Langley, Douglas Lytle

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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