unbekannter Gast

Estonia: Economy#

Estonia, a member of the European Union and the eurozone since 2004, has a modern market-based economy and one of the higher per capita income levels in Central Europe and the Baltic region. Estonia's successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to pro-market reforms. The current government has followed sound fiscal policies that have resulted in balanced budgets and low public debt. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, Russia, and Germany. Estonia's economy fell into recession in mid-2008, as a result of an investment and consumption slump following the bursting of the real estate market bubble and a decrease in export demand as result of economic slowdown in the rest of Europe, but the economy has recovered strongly in the last five years. Growth was expected to top 2% in 2014, before the events in Ukraine. Estonia adopted the euro on 1 January 2011.

Economic Facts#

GDP (purchasing power parity)$29.94 billion (2013 est.)
$29.49 billion (2012 est.)
$28.37 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate1.5% (2013 est.)
3.9% (2012 est.)
9.6% (2011 est.)
GDP - per capita (PPP)$22,400 (2013 est.)
$22,000 (2012 est.)
$21,200 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 3.9%
industry: 30%
services: 66.2% (2013 est.)
Population below poverty line17.5% (2010)
Household income or consumption by percentage sharelowest 10%: 2.7%
highest 10%: 27.7% (2004)
Labor force - by occupationagriculture: 4.2%
industry: 20.2%
services: 75.6% (2010)
Exports - commoditiesmachinery and electrical equipment 21%, wood and wood products 9%, metals 9%, furniture 7%, vehicles and parts 5%, food products and beverages 4%, textiles 4%, plastics 3%
Exports - partnersSweden 16.8%, Finland 15.3%, Russia 12.7%, Latvia 9.2%, Lithuania 5.7%, Germany 4.8% (2012)
Agriculture - productsgrain, potatoes, vegetables; livestock and dairy products; fish
Budgetrevenues: $8.489 billion
expenditures: $8.615 billion (2013 est.)
Imports - commoditiesmachinery and electrical equipment, mineral fuels, chemical products, foodstuffs, plastics, textiles
Imports - partnersFinland 15.1%, Germany 10.7%, Sweden 10.7%, Latvia 10%, Lithuania 9%, Poland 6.6%, China 4.4%, Russia 4.1% (2012)
Exchange rateskroon (EEK) per US dollar -
0.7697 (2013 est.)
0.7778 (2012 est.)
11.81 (2010 est.)
11.23 (2009)
10.7 (2008)
Exports$15.11 billion (2013 est.)
$14.46 billion (2012 est.)
Debt - external$26.74 billion (31 December 2013 est.)
$25.69 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$16.38 billion (2013 est.)
$15.6 billion (2012 est.)
Industrial production growth rate3% (2013 est.)
Industriesengineering, electronics, wood and wood products, textiles; information technology, telecommunications
Inflation rate (consumer prices)3.4% (2013 est.)
3.9% (2012 est.)
Labor force692,900 (2013 est.)
Unemployment rate10.9% (2013 est.)
10.2% (2012 est.)
Distribution of family income - Gini index31.3 (2010)
37 (1999)
Public debt6% of GDP (2013 est.)
5.8% of GDP (2012 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities, including sub-sectors of central government, state government, local government, and social security funds
Current account balance-$352.3 million (2013 est.)
-$267.7 million (2012 est.)
Reserves of foreign exchange and gold$372.3 million (31 December 2013 est.)
$300.7 million (31 December 2012 est.)
GDP (official exchange rate)$24.28 billion (2013 est.)
Stock of direct foreign investment - at home$21.73 billion (31 December 2013 est.)
$20.87 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$7.34 billion (31 December 2013 est.)
$7.84 billion (31 December 2012 est.)
Market value of publicly traded shares$2.332 billion (31 December 2012 est.)
$1.611 billion (31 December 2011)
$2.26 billion (31 December 2010 est.)
Commercial bank prime lending rate5.5% (31 December 2013 est.)
5.75% (31 December 2012 est.)
Stock of domestic credit$19.16 billion (31 December 2013 est.)
$19.24 billion (31 December 2012 est.)
Stock of narrow money$9.994 billion (31 December 2013 est.)
$8.191 billion (31 December 2012 est.)
note: this figure represents the US dollar value of Estonian kroon in circulation prior to Estonia's joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the EMU; individual members of the EMU do not control the quantity of money circulating within their own borders
Stock of broad money$13.64 billion (31 December 2013 est.)
$12.71 billion (31 December 2012 est.)
Taxes and other revenues35% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-0.5% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 50.6%
government consumption: 19%
investment in fixed capital: 24.5%
investment in inventories: 0.9%
exports of goods and services: 90.4%
imports of goods and services: -90.3%
(2013 est.)
Gross national saving23.9% of GDP (2013 est.)
26.4% of GDP (2012 est.)
26.9% of GDP (2011 est.)