The gross domestic product of Estonia increased by 1.3 percent in the second quarter compared to the same period of the previous year, a flash estimate published by Statistics Estonia on Monday shows.
Estonian economy grew 1.3 pct in Q2 - preliminary
12th August 2013, 16:50
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The seasonally and working day-adjusted GDP increased by 0.1 percent compared to the first quarter of 2013.
The biggest contributor to economic growth was the increase in the value added of manufacturing mainly due to the increased value added of computers, electronic and optical products.
The growing of the value added of manufacturing substantially depends on exports' increase. Also the domestic sales of manufacturing production grew.
The real growth of the export of goods of the total economy accelerated to 8 percent, mainly due to the increased exports of chemicals and chemical products, computers, electronic and optical products and other manufacturing products.
The import of goods grew 10 percent compared to the same period of the previous year and it was mostly influenced by the increase in the import of coke and refined petroleum products, and computers, electronic and optical products.
In addition to the manufacturing the increase of GDP was supported by the growth in the value added of trade.
According to the preliminary calculations in the second quarter the Estonian economy was slowed down most by the decrease of the value added in transportation and storage, agriculture and water supply, sewerage, waste management and remediation activities.
The revised GDP estimates for the second quarter of 2013 will be published by Statistics Estonia on Sept. 9.