Flash estimate: Estonia's GDP likely in 4 pct decline year over year in Q1

Estonia's gross domestic product (GDP) continued its decline in the first quarter of 2023. Photo: Sander Ilvest

Estonia's gross domestic product (GDP) continued its decline in the first quarter of 2023, reaching 4 percent year over year, according to a flash estimate by Statistics Estonia.

Leading analyst at Statistics Estonia Robert Muursepp said that due to continuously difficult times in commerce and manufacturing alike, GDP fell around 4 percent on year in the first quarter.

"Compared with the final quarter of 2022, the GDP adjusted seasonally and with the number of working days remained at the same level," Muursepp said in a press release.

The final data of the GDP of the first quarter of 2023 will be published by Statistics Estonia on May 31.