Economy grew in first quarter


The latest statistics shows that Estonia's gross domestic product (GDP) increased by 1.2 percent in the 1st quarter of 2015 compared to the 1st quarter of 2014.

According to Statistics Estonia, manufacturing was the main contributor to the GDP growth, mainly due to the increase in the manufacture of electronic equipment, mineral products and wood products.

Manufacturing success is dependent on exports which grew 3 percent in the 1st quarter, mainly due to the increase in the export of electronic equipment and mineral products. At the same time, import grew 1 percent.

The trade deficit in the 1st quarter was 325 million euros - a decrease compared to the 412 million euros in the same period in 2014.

Source: http://news.err.ee/v/economy/431eb038-8e8a-4a52-8007-f5fac8646e3e