Estonian economy contracted 14.1% in 2009

12.03.2010, 14:32 Read comments (4)

Estonia's gross domestic product fell by 14.1% to 215 billion kroons in current prices, the statistical office Eesti Statistika reported.

According to revised statistical data, GDP amounted to 55 billion kroons in Q4 2009, a contraction by 9.5% compared to the same quarter in 2008. At the same time, Estonia's economy started to show signs of recovery in the last quarter of the year, as the economical output increased by 3.9% or by 2 billion kroons in current prices compared to the previous quarter.

Estonian GDP change y-o-y:

Q4 2009: -9.5%
Q3 2009: -15.6%
Q2 2009: -16.1%
Q1 2009: -15.0%

Q4 2008: -9.2%
Q3 2008: -3.2%
Q2 2008: -1.2%
Q1 2008: -0.3%

Q4 2007: +6.5%
Q3 2007: +5.8%
Q2 2007: +7.3%
Q1 2007: +9.4%

 

Toomas Hõbemägi