Estonian GDP grows in Q1
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The Estonian economy advanced 5.4% year-on-year in the first quarter of 2021, rebounding sharply from a 1.2% contraction in the previous period, figures from the Tallinn-based Statistics Estonia (SE) showed on Monday.
It was the first time expansion in the economy since the fourth quarter of 2019, mainly due to the impact of taxes, primarily the good receipts of value added tax (VAT) and excise duties.
On the production side, the most positive contributions to the gross domestic product (GDP) came from trade, information and communication, and financial and insurance activities.
On a seasonally adjusted quarterly basis, the GDP expanded by 4.8% in Q1, following an upwardly revised 2.8% growth in the previous quarter.
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