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Estonia Economy 2011
https://theodora.com/wfb2011/estonia/estonia_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

Economy - overview:
Estonia, a 2004 European Union entrant, 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 pursued relatively sound fiscal policies that have resulted in balanced budgets and very low public debt. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, and Germany. Tallinn's priority has been to sustain high growth rates - on average 8% per year from 2003 to 2007. Estonia's economy slowed down markedly and fell sharply into recession in mid-2008, primarily as a result of an investment and consumption slump following the bursting of the real estate market bubble. GDP dropped nearly 15% in 2009, among the world's highest rates of contraction. A modest recovery began in 2010, but unemployment stands above 13%. Estonia adopted the euro in January 2011.

GDP (purchasing power parity):
$24.53 billion (2010 est.)
country comparison to the world: 114

$24.07 billion (2009 est.)
$27.96 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$19.22 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.9% (2010 est.)
country comparison to the world: 153

-13.9% (2009 est.)
-5.1% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$19,000 (2010 est.)
country comparison to the world: 63

$18,500 (2009 est.)
$21,400 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 2.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 28.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 68.8% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
688,000 (2009 est.)
country comparison to the world: 150
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 22.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 74.5% (2008)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
13.5% (2010 est.)
country comparison to the world: 140

13.8% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
19.5% (2007)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27.7% (2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
34 (2008)
country comparison to the world: 91

37 (1999)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
22.5% of GDP (2009 est.)
country comparison to the world: 61
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $7.851 billion
[see also: Budget - revenues country ranks ]
expenditures: $8.21 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
7.7% of GDP (2010 est.)
country comparison to the world: 125

7.1% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.4% (2010 est.)
country comparison to the world: 72

-0.1% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
9.39% (31 December 2009 est.)
country comparison to the world: 112

8.55% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$5.345 billion (31 December 2010 est)

$5.822 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$10.7 billion (31 December 2010 est.)

$11.37 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$18.94 billion (31 December 2010 est.)
country comparison to the world: 79

$20.32 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$2.654 billion (31 December 2009)
country comparison to the world: 95

$1.95 billion (31 December 2008)
$6.037 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
potatoes, vegetables; livestock and dairy products; fish

Industries:
engineering, electronics, wood and wood products, textiles; information technology, telecommunications

Industrial production growth rate:
10% (2009 est.)
country comparison to the world: 15
[see also: Industrial production growth rate country ranks ]

Electricity - production:
11.46 billion kWh (2007 est.)
country comparison to the world: 88
[see also: Electricity - production country ranks ]

Electricity - consumption:
7.686 billion kWh (2007 est.)
country comparison to the world: 96
[see also: Electricity - consumption country ranks ]

Electricity - exports:
2.31 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
1.369 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
7,600 bbl/day (2009 est.)
country comparison to the world: 87
[see also: Oil - production country ranks ]

Oil - consumption:
30,000 bbl/day (2009 est.)
country comparison to the world: 114
[see also: Oil - consumption country ranks ]

Oil - exports:
7,280 bbl/day (2007 est.)
country comparison to the world: 98
[see also: Oil - exports country ranks ]

Oil - imports:
30,590 bbl/day (2007 est.)
country comparison to the world: 99
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 183
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 200
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
1.51 billion cu m (2008 est.)
country comparison to the world: 83
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 60
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
1.51 billion cu m (2008 est.)
country comparison to the world: 50
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 183
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$265 million (2010 est.)
country comparison to the world: 54

$898.7 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$10.77 billion (2010 est.)
country comparison to the world: 82

$9.08 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and equipment 29%, wood and paper 13%, metals 10%, food products 8%, textiles 5%, chemical products

Exports - partners:
Finland 18.57%, Sweden 12.52%, Latvia 9.51%, Russia 9.33%, Germany 6.09%, Lithuania 4.76%, US 4.26% (2009)

Imports:
$11.52 billion (2010 est.)
country comparison to the world: 87

$9.783 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment 35%, textiles 19%, mineral fuels 19%, chemical products 9%, foodstuffs 6%

Imports - partners:
Finland 14.52%, Lithuania 10.84%, Latvia 10.47%, Germany 10.33%, Russia 8.59%, Sweden 8.34%, Poland 5.63% (2009)

Reserves of foreign exchange and gold:
$3.641 billion (31 December 2010 est.)
country comparison to the world: 82

$3.981 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$25.13 billion (31 December 2010 est.)
country comparison to the world: 67

$25.56 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$17.53 billion (31 December 2010 est.)
country comparison to the world: 71

$16.23 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$7.134 billion (31 December 2010 est.)
country comparison to the world: 54

$6.534 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
kroon (EEK) per US dollar - 12.11 (2010), 11.232 (2009), 10.7 (2008), 11.535 (2007), 12.473 (2006)


NOTE: The information regarding Estonia on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Estonia Economy 2011 information contained here. All suggestions for corrections of any errors about Estonia Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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