FX.co ★ Estonia Economy Rises in Q3

Estonia's economy expanded by 0.9% year-on-year in the third quarter of 2025, following a revised 0.8% growth in the previous quarter. This represents the highest rate of economic growth since the first quarter of 2022, driven primarily by a rise in government expenditure, which increased by 3.4% compared to 2.3% in Q2. However, there was a decline in private consumption, decreasing by 0.6% after a prior rise of 0.9%, and a contraction in fixed investments, down by 0.7% following a 1.4% increase. Growth was also bolstered by net external demand, with exports rising by 5.7%, outpacing the 1.6% increase in Q2, while imports grew by 5.6% compared with a 2.4% rise previously. On the production front, most sectors positively impacted economic activity, notably led by the energy sector, which surged by 21.5%, and the real estate sector, which grew by 4.4%. When adjusted seasonally on a quarterly basis, GDP rose by 0.4% in the third quarter, slightly down from a revised 0.5% increase in the previous period.