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Estonian second-quarter GDP up 3.5% year on year
In the second quarter the Estonian economy resumed annual growth after two and half years. According to the flash estimate of Statistics Estonia, GDP rose 3.5 percent from the second quarter of 2009, compared with a contraction of 2 percent in the first three months of this year.
“The robust pace of rebound is impressive,” Violeta Klyviene, chief Baltic analyst with Danske Bank A/S, told Bloomberg. The Estonian economy expanded at the second-fastest pace in the EU in the second quarter, trailing only Sweden.
The GDP of the 2nd quarter was above all influenced by the growth of value added of the industrial sector (by 10%), supported by the strong exports of manufacturing production and electricity.
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