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BNS – According to flash estimates the Estonian gross domestic product (GDP) grew 6.6 percent in Q4 2010 compared with the same quarter in 2009 and overall during the year the growth was 3.1 percent, Statistics Estonia said.
Compared with the previous quarter the seasonal and working day adjusted gross domestic product grew for the fifth quarter running. In Q4 the growth compared with Q3 was 2.3 percent.
Analysts of commercial banks interviewed by BNS last week expected economic growth from to 4.7 to 5.1 percent and an annual growth of respectively 2.5 to 2.8percent.
The GDP growth in Q4 was influenced the most by fast growth in the value added in the manufacturing industry. The contribution of the manufacturing industry into the GDP growth was 4 percentage points, Statistics Estonia said.
The biggest share into the value added of that sphere of activity came from the production of radio, TV and communication equipment and apparatus. The value added of the manufacturing industry mainly increased supported by strong export. According to preliminary information the Q4 exports increased by 53 percent with price influences taken into consideration.
In a considerable degree growth in GDP was also influenced by growth in the value added in energy, trade, transport, financial intermediation and other spheres of business.
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