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Estlands ekonomi »

Ekonomiska nyckeltal


  • Currency: from 1 January 2011 Estonia is member of eurozone and the currency in Estonia is euro.
  • Estonia became the OECD's 34th member country on 9 December 2010.
  • Tax system: 21% flat income tax, reinvested corporate profit is tax free; 20% VAT

International Credit Ratings

  • Moody's: A1, outlook stable
  • Standard & Poor's: AA-, outlook negative
  • Fitch: A+, outlook stable

Key Indicators

Key Indicators 2005 2006 2007 2008 2009 2010 2011
Population as of 1 January (million) 1.35* 1.36 1.35 1.34* 1.34 1.34 1.32
GDP at current prices (billion EUR) 11.2 13.4 16.1 16.3 13.8 14.3 16.0
Real growth of GDP (%) 8.9 10.1 7.5 -3.7 -14.3 2.3 7.6
GDP per capita at current prices (EUR) 8 307 9 967 11 977 12 161 10 326 10 674 11 918
GDP per capita (PPS) (EU-27=100) 61 66 69 68 64 65  
Annual FDI (million EUR) 2 307.3 1 431.9 2 546.9 1 181.8 1 323.1 1 162.3 129.5
FDI stock, as of 31 December (million EUR) 9 561 9 644 11 386 11 775 11 654 12 302 12 763
FDI stock per capita, as of 31 December (EUR) 7 082 7 144 8 434 8 787 8 697 9 181 9 669
Consumer price index compared to previous year (%) 4.1 4.4 6.6 10.4 -0.1 3.0 5.0
Unemployment rate** (%) 7.9 5.9 4.7 5.5 13.8 16.9 12.5
Average monthly wage (EUR) 516 601 725 825 784 792  
Current account balance (% of GDP) -10.0 -15.3 -16.2 -9.8 3.7 3.6 3.2
Deficit (-)/Surplus of state budget (% of GDP) 1.6 2.5 2.4 -2.9 -2.0 0.3 1.0
Export (billion EUR)*** 6.202 7.719 8.033 8.470 6.481 8.747 12 022
Import (billion EUR)*** 8.229 10.711 11.439 10.896 7.271 9.245 12 631
Trade balance (billion EUR)*** -2.027 -2.992 -3.406 -2.426 -790 -498 -610
Total government expenditures (% of GDP) 33.6 33.6 34.0 39.5 45.2 40.6 38.2

* Based on the 2000 Population Census
** Unemployed/labour force according to ILO methodology;
*** Trade figures shown in special trade system
(e) Estimated value

Sources: Population Register, Bank of Estonia, Ministry of Finance, Statistical Office of Estonia, Eurostat

GDP by Main Fields of Economic Activity (as a % of total GDP)

Field of Activity 2005 2006 2007 2008 2009 2010 2011
Manufacturing 16.5 16.5 16.0 15.4 14.3 16.4 17.8
Wholesale and retail trade; repair of motor vehicles etc. 14.4 14.5 13.9 13.4 12.1 11.9 11.5
Real estate activities 10.6 10.4 10.3 10.2 11.5 10.9 10.0
Transport and storage 8.4 8.4 7.9 7.9 7.8 8.8 9.1
Public administration and defence; compulsory social security 5.5 5.2 5.5 6.4 7.8 7.3 6.9
Construction 8.6 9.9 10.7 9.9 6.9 5.7 6.3
Education 4.6 4.3 4.2 4.7 5.5 5.1 4.7
Information and communication 4.5 4.3 4.4 4.7 5.3 4.6 4.7
Professional, scientific and technical activities 4.3 4.2 4.4 4.3 4.8 5.1 4.7
Administrative and support service activities 3.4 3.6 3.5 4.0 4.0 3.6 3.8
Electricity, gas, steam and air conditioning supply 2.8 2.6 2.5 2.5 3.4 4.0 3.7
Human health and social work activities 3.0 2.9/td> 3.1 3.6 4.1 3.8 3.7
Financial and insurance activities 3.6 4.0 4.0 4.3 3.9 3.6 3.5

Source: Statistical Office of Estonia

Main Trade Partners in 2011, as a % of total trade

figures shown in special trade system

Country Exports Country Imports
1. Sweden 15.6 1. Finland 12.6
2. Finland 15.0 2. Latvia 10.8
3. Russia 11.0 3. Sweden 10.6
4. Latvia 8.0 4. Germany 10.2
5. USA 6.2 5. Russia 8.3
6. Lithuania 4.6 6. Lithuania 8.2
7. Germany 4.5 7. Poland 6.8
8. Nigeria 3.3 8. China 3.6
9. Norway 3.0 9. Netherlands 3.6
10. Netherlands 2.9 10. United Kingdom 2.4
Others 25.9 Others 22.9

Main Exports and Imports in 2011, as a % of total trade

Main Commodity Groups Exports Main Commodity Groups Imports
Machinery and appliances 27.5 Machinery and appliances 27.3
Mineral products 17.3 Mineral products 18.0
Metals and articles of metals 8.6 Agricultural products and food preparations 9.8
Agricultural products and food preparations 8.4 Metals and articles of metals 8.8
Wood and articles of wood 7.7 Transport equipment 8.2
Miscellaneous manufactured articles 6.6 Chemical products 7.6
Transport equipment 4.9 Articles of plastics and rubber 4.8
Chemical products 4.7 Textile products 4.2
Articles of plastics and rubber 2.9 Wood and articles of wood 2.4
Textiles and textile articles 2.9 Miscellaneous manufactured articles 1.8
Paper and articles of paper 2.6 Paper and articles of paper 1.8
Others 5.9 Others 5.3

Source: Statistical Office of Estonia

Direct Investment Position in Estonia by Countries

as of 31 December 2011

Country Million EUR % of total
EU27 10 631.8 83.3
Euro-zone17 5 937.6 46.5
CIS 600.9 4.7
1. Sweden 3 658.6 28.7
2. Finland 3 042.4 23.8
3. Netherlands 1 327.5 10.4
4. Russia 521.1 4.1
5. Norway 466.0 3.7
6. Cyprus 361.6 2.8
7. USA 321.0 2.5
8. Lithuania 308.6 2.4
9. Denmark 295.4 2.3
10. Germany 295.0 2.3
Others 2 165.5 17.0
Total 12 762.7 100.0

Source: Bank of Estonia

Estonia's Direct Investment Position abroad by Countries

as of 31 December 2011

Country million EUR % of total
EU27 2 865.5 79.3
Euro-zone17 1203.4 33.3
CIS 559.5 19.6
1. Lithuania 756.4 20.9
2. Latvia 699.9 19.4
3. Cyprus 625.4 17.3
4. Finland 294.1 8.1
5. Russia 276.7 7.7
6. Ukraine 189.9 5.3
7. Sweden 83.5 2.3
8. Italy 81.7 2.3
9. USA 73.3 2.0
10. Belarus 71.0 2.0
Others 459.3 12.7
Total 3 611.2 100.0

Source: Bank of Estonia

Telecommunications and IT

  • 77% of population aged 16 to 74 are Internet users (2011, Statistics Estonia).
  • 71% of households have access to the Internet at home (2011, Statistics Estonia).
  • All Estonian schools are connected to the Internet.
  • All Estonian towns and villages are covered by the network of public Internet access points.
  • There are more than 1 100 free wireless Internet zones around the country. More information: www.wifi.ee
  • Incomes can be declared to the Tax and Customs Board via Internet. In 2011, the percentage of electronic tax declarations was 93.
  • The Government has changed Cabinet meetings to paperless sessions using a web-based document system
  • All of Estonia is covered with digital mobile phone networks
  • There are more mobile phone contracts than residents - 128 per 100 people

With its policies and innovative initiatives the Estonian Government is helping companies make the information technology sector one of the fastest growing in the country. The World Economic Forum's Global Information Technology Report 2010-2011 - The Networked Readiness Index, also indicates a strong Estonian standing in government and the community readiness to participate in and benefit from ICT developments: the study ranks Estonia 26th out of 138 countries thanks to its regulatory framework for ICT, making Estonia the leader among the Central and Eastern European countries.

Economic Development Perspectives

Growth and associated factors 2011-2016

Main economic indicators 2011 2012* 2013* 2014* 2015* 2016*
GDP real growth (%) 7.6 1.7 3.0 3.4 3.5 3.5
GDP (in nominal terms, billion EUR) 16.0 16.7 17.7 18.8 20.0 21.2
GDP deflator (%) 3.7 2.6 3.1 2.7 2.7 2.7
Consumer price index (%) 5.0 3.3 3.0 2.7 2.7 2.7
Employment (15–74 years old, thousands) 609.1 613.1 619.5 623.2 625.7 628.2
Employment growth (%) 6.7 0.7 1.0 0.6 0.4 0.4
Unemployment rate (ILO) 12.5 11.5 9.6 8.7 8.3 8.2
Average wage (EUR) 835 867 910 958 1 011 1 071
Wage real growth (%) 0.4 0.5 1.9 2.5 2.7 3.2
Current account (% of GDP) 3.2 1.0 0.0 -1.0 -2.3 -3.5

* Forecast;
Source: Ministry of Finance, April 2012

A Comparison of Economic Forecasts from Various Institutions 2012-2013

  Economic growth, % Consumer price index, % Current account,
% of GDP
  2012 2013 2012 2013 2012 2013
IMF 4.0 - 3.5 - 2.3 -
OECD 3.2 4.4 3.2* 3.2* 2.6 -
European Commission 1.2 - 3.1* - 1.5 -
Bank of Estonia 1.9 3.6 2.8* 2.9* 2.0 0.9
Ministry of Finance 1.7 3.0 3.4* 3.0* 1.0 0.0

* Harmonised consumer price index
Source: Ministry of Finance, European Commission, Bank of Estonia, IMF, OECD

 

More about Estonia's economy:

Bank of Estonia
Statistical Office of Estonia
Estonian Chamber of Commerce and Industry
Ministry of Finance
Ministry of Economic Affairs and Communications
Tallinn Stock Exchange
Estonian business information gateway
Enterprise Estonia
Estonian Investment and Trade Agency
Enterprise Estonia (Trade Promotion Services)
Estonian Trade Council
Estonian Development Fund
Estonian Business Association
Transformations in the Estonian economy

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