Estonia’s economy expanded more than initially estimated in the fourth quarter, final figures from Statistics Estonia showed Wednesday.
Gross domestic product, or GDP, climbed 3.0 percent year-over-year in the three months ended December, revised up from a 2.7 percent increase in the preliminary report. In the third quarter, the economy had expanded 2.4 percent.
The seasonally and working-day-adjusted GDP grew 2.9 percent annually in the fourth quarter, which was revised from 2.6 percent.
The latest rate of expansion was the highest since the first quarter of 2013, when the growth was at 3.9 percent.
In the fourth quarter, the main contributor to the GDP was manufacturing. The manufacture of electronics and wood contributed to the increase in manufacturing.
The value added in energy and trade also provided significant support for economic growth, underpinned by the growth of sales by retail trade enterprises.
Total exports of goods and services surged 6.0 percent in the three-month period to December compared to the same quarter of the previous year. Imports also rose by 5.9 percent.
In the whole year 2014, GDP advanced 2.1 percent as compared to 2013, revised from a 1.8 percent growth estimated in the preliminary report on February 11.
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