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Estonian economy grows 2.0%


According to the latest estimates by Statistics Estonia, the gross domestic product (GDP) of Estonia increased 2.0 percent in the second quarter of 2015 compared to the same time previous year.

The news comes as a positive sign during otherwise turbulent times when the food and beverages sector was hit by Russian sanctions and Greek crisis caused worries in eurozone.

Estonian GDP in the second quarter was 5.2 billion euros and the growth was mostly influenced by a rise in trade, real estate activities and agriculture, forestry and fishing. The receipts of value added tax also grew, a sign of increased consumption.

The hardest hit were transport, construction and manufacturing activities, especially the food and beverages industry. Export also decreased slightly, by 1.1 percent.

Source: http://news.err.ee/v/economy/c8e8d7f8-d720-4c06-a1e9-7578dee0c31b/estonian-economy-grows-20