Analytics, Economics, Estonia, EU – Baltic States, GDP, Markets and Companies

The bank estimated that this year's economic growth in Estonia will be 1.9%. Despite halting growth in exports and production volumes, this year's economic growth is fuelled by robust private consumption and increase in net exports, read Swedbank's macroeconomic analysts' outlook that was published by the bank on Monday.

The outlook for the next couple of years is more optimistic due to expected improvement in external demand; Swedbank projects that next year economic growth will accelerate to 2.8% and ought to remain at the same level in 2017.

“Despite the gradual improvement in the economy of the European Union – which is our principal exports destination –, the total demand in Estonia's principal trade partners in the neighbouring region has fallen this year,” commented Swedbank Estonia's Chief Economist Tõnu Mertsina.