Estonian second-quarter GDP up 3.5% year on year

[Äike]

Estonian second-quarter GDP up 3.5% year on year (http://balticbusinessnews.com/article/2010/08/11/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.

[Äike]

When looking at the percentage change compared with the same quarter of the previous year(3.5%), then Estonia has one of the fastest growing economies in the EU. It is predicted that Estonia will have the largest percentage(in the entire EU) of GDP growth in 2011.

Now this information is for people who like to think that the Baltic area is a single entity, just the country names differ:

Latvia's economy dropped the most in Q2, in the EU, by -3.9%. Greece is 2nd by -3.5%.

Estonia as a Baltic country is an oxymoron, from a linguistic, cultural and economic viewpoint.

[The Lawspeaker]

3.5 ? How much did they lose again before that ? Wasn't it somewhere up in the -10 ?

http://i38.tinypic.com/34iqy54.jpg



Well, Karl. Let's just wait and see shall we ?
After all economic growth in these times is as much as a guarantee as the assumption that Luxembourg will beat Brazil 10-0 in South Africa.

Only the Money Masters know who will get the cake. The graph itself is a tad weird btw: private consumption in 2008 crashed -3.6% , in 2009 it is estimated to go down a wooping -13,7%, followed by an additional -0,1% next year and suddenly rise a wooping 4,2% in 2011 what still means btw that Estonia is still down -13.2% as seen from the 2007 level (if my non-existent calculation skills haven't completely deserted me).

And that's just private consumption. That's what a chap like you has in his wallet.
Your countries' unemployment rate will still be at an incredible 14.2%. To summarize it all: your country has been assraped and nicked blind by the banks.

[Treffie]

I wonder how much trade Estonia does with Germany? When other markets are growing, it usually reflects in the figures of trading partners.

I think the markets are growing too quickly too soon, and I'm waiting for a double-dip. We're not out of the woods yet.

[Groenewolf]

I think the markets are growing too quickly too soon, and I'm waiting for a double-dip. We're not out of the woods yet.

And mostly because of counterfeit demand and the availability of more cheap credit. I think Faber said the best way to delay a hangover is to drink more, but the hangover will only become worse in the end. Or something like that.

[Äike]

3.5 ? How much did they lose again before that ? Wasn't it somewhere up in the -10 ?

http://i38.tinypic.com/34iqy54.jpg

Economic growth isn't possible during an economic crisis. My point is that Estonia was and will be one of the most fastest growing economies in Europe. Predictions say that Estonia will have the largest percentage of GDP growth in the EU, in 2011.


I wonder how much trade Estonia does with Germany? When other markets are growing, it usually reflects in the figures of trading partners.

I think the markets are growing too quickly too soon, and I'm waiting for a double-dip. We're not out of the woods yet.

According to my data, 5% of Estonian exports go to Germany.

[Treffie]

According to my data, 5% of Estonian exports go to Germany.

That's not a huge amount. Who is Estonia's largest trading partner, Russia?

[Äike]

That's not a huge amount. Who is Estonia's largest trading partner, Russia?

No... Finland is 1st and Sweden is 2nd.