OREANDA-NEWS. March 15, 2012. Revised figures released by Statistics Estonia have pegged the nation's 2011 GDP growth at 7.6 percent, up slightly from the 7.5 percent that it announced a month ago based on flash estimates.

The first three quarters of the year were characterized by high growth rate, mainly driven by a revving up of the manufacturing sector, followed by an abrupt slowdown that led to the first quarter-to-quarter contraction seen since early 2010.

However, the new numbers indicate that the fourth quarter drop wasn't quite so dramatic as initially believed, with GDP shrinking by just 0.2 percent compared with the 0.8 percent first calculated. Quarterly GDP at current prices came in at 4.22 billion euros, a 4.5 percent increase year-on-year.