On changes of Gross Domestic Product in the 1st quarter of 2008

09.06.2008

Compared to the corresponding period of previous year, gross domestic product (GDP) in 1st quarter of 2008 has increased by 3.3%, according to the Central Statistical Bureau. But, compared to 4th quarter of 2007, GDP has decreased by 4.5%.

Production aspect

The increase in GDP was due to the rises in the following sectors:transport and communications (share in GDP structure – 10.4%) – by 9.6%, construction (6.7%) – by 9.1%.But in manufacturing (10.4%) and trade (21.4%) there was a decrease of 4.1% and 0.8%, respectively.

Changes in the key sectors in the 1st quarter of 2008
(at constant prices, % of the corresponding quarter of the previous year)

Retail trade

Transport and communications

Manufacturing

Construction

 

Changes of GDP in the 1st quarter of 2008 by kind of economic activity
(At constant prices, % of the corresponding quarter of the previous year)

A Agriculture, hunting and forestry;
B Fishery;
C Mining and quarrying;
D Manufacturing;
E Electricity, gas and water supply;
F Construction;
G Trade;
H Hotels and restaurants;
I Transport and communications;
J Finances;
K Business services;
L Public administration and defence; compulsory social security;
M Education;
N Health and social work;
O Other community, social and personal service activities


Expenditure approach

Increase of gross domestic product by major expenditure items

At current prices, % of the corresponding quarter of the previous year

At constant prices, % of the corresponding quarter of the previous year

Compared to the 1st quarter of 2007 (at current prices), in the 1st quarter of 2008 main groups of private final consumption were: food (share in the structure of private final consumption – 26%), an increase of 15.8%, house maintenance (12%) constituting a growth of 17%, as well as, recreational and culture activities (8.7%), where growth comprised 33.5%. But consumption expenditure in communications (4.8%) witnessed a decrease of 3.2%.

Gross capital formation at constant prices has grown by 5.1%, what was influenced by construction rise of 9.1% and increase of investments by 2%.

Total growth of export of goods and services was influenced by increase of goods export by 5.6% (constituting 69% of total export) and rise of services exports by 8.5%.

Total volume of imports of goods and services has reduced, what may be explained with the decrease of imports of goods by 5.4% (constituting 82% of total imports), nevertheless, the imports of services has grown by 18.1%.

GROWTH OF GROSS DOMESTIC PRODUCT IN THE BALTIC COUNTRIES
(At constant prices, % of the corresponding quarter of the previous year)

Estonia on 1st quarter of 2008 - secondary estimate.

Prepared by National Accounts Section
Tel. 67366671
Alla Vanaga