Estonia's GDP grew 2.4% in the first quarter due to private consumption

Estonia's gross domestic product increased by 2.4% in the first quarter compared to the same period last year. Private consumption made the main contribution to economic growth.

Estonia's economy is showing positive dynamics: according to data for the first quarter of this year, the country's gross domestic product grew by 2.4% compared to the same period last year.

Private consumption became the main driver of growth — this component made the largest contribution to the overall indicator. The revival of consumer activity indicates a gradual recovery in household purchasing power following a difficult economic period.

The data obtained gives reason for cautious optimism regarding further prospects for the Estonian economy, although a fuller picture will become clearer after the publication of detailed statistics by individual sectors.