Estonian economy expands less than estimated in Q2
2013-09-09 11:04:19
Estonia's economy expanded further in the second quarter, but at a slower rate than estimated earlier, final data released by Statistics Estonia showed Monday.
Gross domestic product (GDP), at market prices, grew 1 percent year-on-year in the second quarter, slower than the 1.3 percent growth estimated earlier. In the second quarter, GDP recorded a 1.3 percent gain.
Contributing to the overall growth in output, domestic demand climbed 3.2 percent annually, helped by an increase in households' final consumption expenditure. Meanwhile, gross fixed capital formation fell 1 percent from a year earlier.
Overall merchandise exports rose 9 percent, mainly due to the increased shipments of chemicals and chemical products, computers, electronic and optical products and other manufacturing products. The import of goods grew 8 percent.
Sequentially, GDP dropped a seasonally adjusted 0.2 percent in the second quarter, compared to the 0.1 percent increase estimated earlier.