Decrease in expenditures on clothes & footwear in Q2

10 Sep '07

3 min read

The deceleration of the growth in exports of goods, starting already at the beginning of the last year, continued in the 2nd quarter this year. Exports of goods grew merely by 0.5% at constant prices compared to the same period in the previous year.

The deceleration of the growth was mainly influenced by the decrease in exports of mineral products and machinery and equipment, compared to the same quarter of the previous year.

Exports of services grew by 11.5%. Besides the deceleration of the growth in export volumes and even a decrease in some groups of goods, the considerably risen export prices also influenced the deceleration of export growth at constant prices.

At the same time, the deceleration of the growth in imports of goods continued. Imports of goods grew merely by 1.7% at constant prices, whereby the deceleration was again influenced by the decrease in exports of mineral products and machinery and equipment. However, imports of services grew by 14.6%.

The seasonally adjusted GDP at constant prices increased by 0.9% in the 2nd quarter of 2007 compared to the previous quarter and 7.7% compared to the same quarter in the previous year.

Statistics Estonia published a revised time series of the whole year and the quarters of 2003 -2006 (the year 2003 according to supply and use tables and 2005 according to the Structural Business Statistics annual data) in its public data base. Since the year 2006 was also revised, the updated 1st quarter of 2007 was updated as well.

As a result of the revision the annual GDP of 2003-2006 changed by 1.2–2.3% at current prices and by -0.2 to +0.1% at constant prices compared to the previously published data. The GDP annual growth rate at constant prices for the revised period changed by -0.3 to +0.1 percentage points resulted from the revision.

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Statistical Office of Estonia

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