Economy ofEstonia
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Tornimäe business area in Tallinn
CurrencyEuro (EUR, €)
Fiscal year
Calendar year
Trade organisations
EU, WTO and OECD
Country group
  • Developed/Advanced
  • High-income economy
Statistics
PopulationIncrease 1,330,068 (1 January 2021)
GDP
  • Increase $35.187 billion (nominal, 2022 est.)
  • Increase $49.644 billion (PPP, 2022 est.)
GDP rank
  • 97th (nominal, 2019)
  • 112th (PPP, 2020)
GDP growth
  • 4.3% (2018) 5.0% (2019)
  • −5.2% (2020e) 9.5% (2021e)
GDP per capita
  • Increase $27,971 (nominal, 2022 est.)
  • Increase $44,778 (PPP, 2022 est.)
GDP per capita rank
  • 40th (nominal, 2019)
  • 49th (PPP, 2019)
GDP by sector
  • agriculture: 2.8%
  • industry: 29.2%
  • services: 68.1%
  • (2017 est.)
Inflation (CPI)
  • 0.2% (2020 est.)
  • 2.3% (2019)
  • 3.4% (2018)
Population belowpoverty line
  • 21.1% – income below €468/month (2016)
  • Positive decrease 24.3% at risk of poverty or social exclusion (AROPE, 2019)
Gini coefficient
Positive decrease 30.5medium(2019, Eurostat)
Human Development Index
  • Increase 0.892very high(2019) (29th)
  • Increase 0.829very highIHDI (2019)
Labour force
  • Decrease 693,759 (2019)
  • Increase 79.5% employment rate (Target: 76%; 2018)
Labour force by occupation
  • agriculture: 2.7%
  • industry: 20.5%
  • services: 76.8%
  • (2017 est.)
Unemployment
  • Positive decrease 7.8% (July 2020)
  • Negative increase 23.2% youth unemployment (15 to 24 year-olds; June 2020)
Average gross salary
€1,756 / $1870.29 Monthly (December, 2021)
Average net salary
€1,233.37 / $1,480 monthly (Q4, 2020)
Main industries
engineering, electronics, wood and articles of wood, textiles, information technology, telecommunications
Ease-of-doing-business rank
Decrease 18th (very easy, 2020)
External
ExportsIncrease €14.4 billion (2018)
Export goods
Electrical equipment, wood and articles of wood, mineral products, agriculture products, mechanical appliances
Main export partners
  •  Finland(+) 16%
  •  Sweden(+) 11%
  •  Latvia(+) 10%
  •  Russia(+) 8%
  •  Germany(+) 6%
  • Others 51%
  • (2018)
ImportsIncrease €16.2 billion (2018)
Import goods
Electrical equipment, transport equipment, agricultural products, mineral products, mechanical appliances
Main import partners
  •  Finland(+) 13%
  •  Germany(+) 10%
  •  Lithuania(+) 10%
  •  Sweden(+) 9%
  •  Russia(+) 9%
  • Others 50%
  • (2018)
FDI stock
  • Increase $27.05 billion (31 December 2017 est.)
  • Increase Abroad: $10.96 billion (31 December 2017 est.)
Current account
Increase $809 million (2017 est.)
Grossexternal debt
Negative increase $19.05 billion (31 December 2016 est.)
Public finances
Public debt
  • Steady 8.4% of GDP (2019)
  • Increase €2.4 billion (2019)
Budget balance
  • €90 million deficit (2019)
  • −0.3% of GDP (2019)
Revenues38.7% of GDP (2019)
Expenses39.0% of GDP (2019)
Economic aiddonor: ODA, €40.3 million (2016)
Credit rating
  • Standard & Poor's: AA-
  • Fitch Ratings: A+
  • Moody's: A1
  • Scope: AA-
Foreign reserves
Decrease $345 million (31 December 2017 est.)

All values, unless otherwise stated, are in US dollars.