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Estonia Economy 2017
http://www.theodora.com/wfbcurrent/estonia/estonia_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Estonia Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Estonia, a member of the EU since 2004 and the euro zone since 2011, 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 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, and Germany. After two years of robust recovery in 2011 and 2012, the Estonian economy faltered in 2013 with only 1.6% GDP growth, mainly due to continuing recession in much of the EU. GDP growth in 2014 was 2.9% but dropped to 1.2% in 2015 due to lower demand in key Scandinavian export markets. GDP growth is expected to be about 2.2% in 2016.Estonia is challenged by a shortage of labor, both skilled and unskilled, although the government has amended its immigration law to allow easier hiring of highly qualified foreign workers.

GDP (purchasing power parity):
$38.7 billion (2016 est.) $38.12 billion (2015 est.) $37.72 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 117
[see also: GDP country ranks ]

GDP (official exchange rate):
$23.48 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.5% (2016 est.) 1.1% (2015 est.) 2.9% (2014 est.)
country comparison to the world: 160
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$29,500 (2016 est.) $29,000 (2015 est.) $28,700 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 64
[see also: GDP - per capita country ranks ]

Gross national saving:
24.4% of GDP (2016 est.) 26.2% of GDP (2015 est.) 27.5% of GDP (2014 est.)
country comparison to the world: 53
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 51.2%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 79.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -74.6% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 28.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 68.4% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

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

Industrial production growth rate:
3.2% (2016 est.)
country comparison to the world: 76
[see also: Industrial production growth rate country ranks ]

Labor force:
651,200 (2016 est.)
country comparison to the world: 154
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 28.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 67.7% (2014)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
6.5% (2016 est.) 6.2% (2015 est.)
country comparison to the world: 73
[see also: Unemployment rate country ranks ]

Population below poverty line:
21.6% (2014 est.)
[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:
35.6 (2014) 37 (1999)
country comparison to the world: 89
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $9.559 billion
[see also: Budget revenues country ranks ]
expenditures: $9.596 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
40.7% of GDP (2016 est.)
country comparison to the world: 38
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.2% of GDP (2016 est.)
country comparison to the world: 32
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
9.7% of GDP (2016 est.) 9.7% of GDP (2015 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
country comparison to the world: 175
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.3% (2016 est.) -0.5% (2015 est.)
country comparison to the world: 43
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2013) 0.3% (31 December 2012)
country comparison to the world: 147
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.8% (31 December 2016 est.) 4.48% (31 December 2015 est.)
country comparison to the world: 144
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$12.85 billion (31 December 2016 est.) $10.96 billion (31 December 2015 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of
country comparison to the world: 75
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$14.71 billion (31 December 2014 est.) $14.05 billion (31 December 2013 est.)
country comparison to the world: 98
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$21.29 billion (31 December 2016 est.) $19.88 billion (31 December 2015 est.)
country comparison to the world: 85
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$2.034 billion (31 December 2014 est.) $2.591 billion (31 December 2013 est.) $2.332 billion (31 December 2012 est.)
country comparison to the world: 99
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$136 million (2016 est.) $487 million (2015 est.)
country comparison to the world: 46
[see also: Current account balance country ranks ]

Exports:
$12.27 billion (2016 est.) $12.24 billion (2015 est.)
country comparison to the world: 78
[see also: Exports country ranks ]

Exports - commodities:
machinery and electrical equipment 34%, food products and beverages 9%, mineral fuels 9%, wood and wood products 10%, metals 7%, furniture 9%, vehicles and parts 6%, chemicals 5% (2015 est.)

Exports - partners:
Sweden 18.8%, Finland 16%, Latvia 10.4%, Russia 6.7%, Lithuania 5.9%, Germany 5.2%, Norway 4.1% (2015)

Imports:
$13.46 billion (2016 est.) $13.19 billion (2015 est.)
country comparison to the world: 89
[see also: Imports country ranks ]

Imports - commodities:
machinery and electrical equipment 28 %, mineral fuels 11%, food and food products 10%, vehicles 9%, chemical products 8%, metals 8% (2015 est.)

Imports - partners:
Finland 14.5%, Germany 11%, Lithuania 9%, Sweden 8.5%, Latvia 8.3%, Poland 7.4%, Russia 6.1%, Netherlands 5.5%, China 4.8% (2015)

Reserves of foreign exchange and gold:
$475.5 million (31 December 2016 est.) $414.8 million (31 December 2015 est.)
country comparison to the world: 149
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$19.05 billion (31 December 2016 est.) $18.3 billion (31 December 2015 est.)
country comparison to the world: 93
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$22.86 billion (31 December 2016 est.) $22.02 billion (31 December 2015 est.)
country comparison to the world: 74
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$9.414 billion (31 December 2016 est.) $9.164 billion (31 December 2015 est.)
country comparison to the world: 62
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
kroon (EEK) per US dollar - 0.8985 (2016 est.) 0.9012 (2015 est.) 0.9012 (2014 est.) 0.7525 (2013 est.)


NOTE: The information regarding Estonia on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Estonia Economy 2017 information contained here. All suggestions for corrections of any errors about Estonia Economy 2017 should be addressed to the CIA.




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