Economic growth rises in the third quarter of 2025

Economy edges forward: Estonia's GDP expanded 0.9% in annual terms in Q3, following a 0.8% expansion in the previous quarter. Q3's reading was the strongest since Q1 2022. In seasonally adjusted quarter-on-quarter terms, GDP grew 0.4% in Q3, following a 0.5% expansion in the prior quarter.

Domestic demand struggles, but net exports support momentum: Compared to the prior period's data, readings in Q3 improved for government consumption (+3.4% in annual terms vs +2.3% in Q2), exports of goods and services (+5.7% vs +1.6% in Q2) and imports of goods and services (+5.6% vs +2.4% in Q2). In contrast, readings softened for private consumption (-0.6% vs +0.9% in Q2) and fixed investment (-0.7% vs +1.4% in Q2). While net exports contributed to overall GDP growth for the second consecutive quarter, households spent less on alcohol and tobacco, food and accommodation, and transport, while the private sector invested less briskly, as industrial production remained weak.

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