| Economy - overview | 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. Tallinn's priority has been to sustain high growth rates - on average 8% per year from 2003 to 2007. Estonia's economy fell into recession in mid-2008 with GDP contracting 14.3% in 2009, 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. Estonia rebounded nearly 8% in 2011 and the Estonian economy now has one of the higher GDP growth rates in Europe. Estonia adopted the euro on 1 January 2011. |
| GDP (purchasing power parity) | $28.44 billion (2012 est.)
$27.76 billion (2011 est.)
$25.79 billion (2010 est.)
note: data are in 2012 US dollars |
| GDP (official exchange rate) | $21.42 billion (2012 est.) |
| GDP - real growth rate | 2.4% (2012 est.)
7.6% (2011 est.)
2.3% (2010 est.) |
| GDP - per capita (PPP) | $21,200 (2012 est.)
$20,700 (2011 est.)
$19,200 (2010 est.)
note: data are in 2012 US dollars |
| GDP - composition by sector | agriculture: 3.7%
industry: 30.2%
services: 66.1% (2012 est.) |
| Population below poverty line | 17.5% (2010) |
| Labor force | 675,900 (2012 est.) |
| Labor force - by occupation | agriculture: 4.2%
industry: 20.2%
services: 75.6% (2010) |
| Unemployment rate | 11.5% (2012 est.)
12.5% (2011 est.) |
| Unemployment, youth ages 15-24 | total: 27.3%
male: 31.8%
female: 21.2% (2009) |
| Household income or consumption by percentage share | lowest 10%: 2.7%
highest 10%: 27.7% (2004) |
| Distribution of family income - Gini index | 31.3 (2010)
37 (1999) |
| Investment (gross fixed) | 23.3% of GDP (2012 est.) |
| Budget | revenues: $7.915 billion
expenditures: $8.439 billion (2012 est.) |
| Taxes and other revenues | 37% of GDP (2012 est.) |
| Budget surplus (+) or deficit (-) | -2.4% of GDP (2012 est.) |
| Public debt | 8% of GDP (2012 est.)
5.9% of GDP (2011 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 |
| Inflation rate (consumer prices) | 3.3% (2012 est.)
5% (2011 est.) |
| Commercial bank prime lending rate | 8% (31 December 2012 est.)
6.1% (31 December 2011 est.) |
| Stock of money | $6.106 billion (31 December 2008)
$7.158 billion (31 December 2007) |
| Stock of narrow money | $7.033 billion (31 December 2012 est.)
$6.744 billion (31 December 2011 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 | $12.11 billion (31 December 2012 est.)
$11.73 billion (31 December 2011 est.) |
| Stock of quasi money | $5.478 billion (31 December 2008)
$4.253 billion (31 December 2007) |
| Stock of domestic credit | $19.77 billion (31 December 2012 est.)
$19.14 billion (31 December 2011 est.) |
| Market value of publicly traded shares | $1.611 billion (31 December 2011)
$2.26 billion (31 December 2010)
$2.654 billion (31 December 2009) |
| Agriculture - products | grain, potatoes, vegetables; livestock and dairy products; fish |
| Industries | engineering, electronics, wood and wood products, textiles; information technology, telecommunications |
| Industrial production growth rate | 18% (2011 est.) |
| Current Account Balance | $498 million (2012 est.)
$477 million (2011 est.) |
| Exports | $17.38 billion (2012 est.)
$16.78 billion (2011 est.) |
| Exports - commodities | machinery 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 - partners | Sweden 17%, Finland 16.3%, Russia 11.9%, Latvia 8.6%, Germany 4.9%, Lithuania 4.9% (2011) |
| Imports | $17.87 billion (2012 est.)
$17.09 billion (2011 est.) |
| Imports - commodities | machinery and electrical equipment 22%, mineral fuels 18%, chemical products 3%, foodstuffs 6%, plastics 6%, textiles 5% |
| Imports - partners | Finland 13.4%, Latvia 11.6%, Sweden 11.3%, Germany 10.9%, Lithuania 8.7%, Poland 7.2%, China 4.7% (2011) |
| Reserves of foreign exchange and gold | $217 million (31 December 2012 est.)
$207.5 million (31 December 2011 est.) |
| Debt - external | $25.92 billion (31 December 2012 est.)
$24.98 billion (31 December 2011 est.) |
| Stock of direct foreign investment - at home | $16.76 billion (31 December 2012 est.)
$16.56 billion (31 December 2011 est.) |
| Stock of direct foreign investment - abroad | $6.609 billion (31 December 2012 est.)
$7.359 billion (31 December 2011 est.) |
| Exchange rates | kroon (EEK) per US dollar -
0.782 (2012 est.)
0.72 (2011 est.)
11.81 (2010 est.)
11.23 (2009)
10.7 (2008) |
| Fiscal year | calendar year |
