FX.co ★ Estonia GDP Growth Eases in Q4

Estonia’s economy grew by 0.7% year-on-year in the final quarter of 2025, slowing from a revised 1.1% expansion in the previous quarter. Government consumption growth eased to 3.1% from 3.4% in Q3, while private consumption remained subdued, shrinking by 0.4%. Net external demand continued to support the economy, with exports rising 4.7% (slightly below 4.8% in Q3) and outpacing imports, which increased by 3.1% after a 6.2% gain in the prior period. Fixed investment returned to growth, advancing 6.9% following a 0.5% decline in Q3. On the production side, the manufacturing sector and the information and communication industries made the strongest contributions to GDP. On a seasonally adjusted quarter-on-quarter basis, GDP fell by 0.1% in Q4, reversing a downwardly revised 0.1% increase recorded in the previous quarter. For the whole of 2025, the economy expanded by 0.6%.