2011-09-08 - Latvia’s and Estonia’s growth revised upward (MatasM)

In 2011 Latvian and Estonian economies expanded faster than formerly estimated. According to revised statistics, Estonia’s real GDP grew by 9.5% yoy in Q1 (previously - 8.5%), while Q2 indicator was left unchanged at 8.4%.

Latvia’ GDP growth in Q2 was revised upwards to 5.6% yoy, up from 5.3%. This puts expansion rate of Latvian economy at 4.6% yoy in the first half 2011 - below Estonia ’s 8.9% and Lithuania 6.6%, but well above that of major EU economies.

Assessment: The revision of the Latvian growth was in line, while Estonian figure surpassed our expectations. The indicators confirm strong economic growth of the Baltics and consolidate region’s status as EU’s most robust one in term s of growth in 2011.

Mindaugas Jurgelis
Analyst

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