| Economy | Estonia |
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Economy - overview:
|
Estonia, a 2004 European Union entrant, has a modern market-based economy and one of the highest per capita income levels in Central Europe. Estonia's successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to promarket reforms. Tallinn's priority has been to sustain high growth rates - on average 8% over the last four years. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, and Germany. The current government has pursued relatively sound fiscal policies, resulting in balanced budgets and low public debt. Rapid growth, however, has made it difficult to keep inflation and large current-account deficits from soaring, putting downward pressure on the country's currency. The government has not given up on joining the euro, but has repeatedly postponed its euro adoption target. Estonia's economy slowed down markedly and even fell 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 (purchasing power parity):
|
$27.72 billion (2008 est.)
$28.73 billion (2007)
$27.02 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$21,200 (2008 est.)
$21,800 (2007 est.)
$20,400 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$23.46 billion (2008 est.) |
GDP - real growth rate:
|
-3% (2008 est.)
6.3% (2007 est.)
10.4% (2006 est.) |
GDP - composition by sector:
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agriculture: 2.9%
industry: 32.3%
services: 64.8% (2008 est.) |
Investment (gross fixed):
|
29.4% of GDP (2008 est.) |
Population below poverty line:
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5% (2003) |
Household income or consumption by percentage share:
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lowest 10%: 2.5%
highest 10%: 27.6% (2003) |
Distribution of family income - Gini index:
|
34 (2008) |
Inflation rate (consumer prices):
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10.4% (2008 est.) |
Central bank discount rate:
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void |
Commercial bank prime lending rate:
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6.46% (31 December 2007) |
Stock of money:
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$7.158 billion (31 December 2007) |
Stock of money - per capita:
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5,509 USD per capita |
Stock of quasi money:
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$4.253 billion (31 December 2007) |
Stock of quasi money - per capita:
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3,274 USD per capita |
Stock of domestic credit:
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$21.35 billion (31 December 2007) |
Stock of domestic credit - per capita:
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16,432 USD per capita |
Labor force:
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686,000 (2008 est.) |
Labor force participation rate:
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52.79 % of population |
Labor force - by occupation:
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agriculture: 4.7%
industry: 33.7%
services: 61.6% (2007) |
Unemployment rate:
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6.2% (30 September 2008 est.) |
Budget:
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revenues: $8.92 billion
expenditures: $9.091 billion (2008 est.) |
Budget revenues per capita:
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6,865 USD per capita |
Public debt:
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3.8% of GDP (2008 est.) |
Industries:
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engineering, electronics, wood and wood products, textiles; information technology, telecommunications |
Industrial production growth rate:
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2.5% (2008 est.) |
Electricity - production:
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12.19 billion kWh (2007) |
Electricity - production per capita:
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9,382 kWh per capita |
Electricity - consumption:
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7.18 billion kWh (2007) |
Electricity - consumption - per capita:
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5,526 kWh per capita |
Electricity - exports:
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2.765 billion kWh (2007) |
Electricity - imports:
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345 million kWh (2007) |
Oil - production:
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7,430 bbl/day (2007 est.) |
Oil - production per capita:
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5,719 bbl/day per capita |
Oil - consumption:
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30,440 bbl/day (2006 est.) |
Oil - consumption - per capita:
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8.55 bbl/year per capita |
Oil - exports:
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7,000 bbl/day (2005) |
Oil - imports:
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28,170 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2007) |
Natural gas - production per capita:
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void |
Natural gas - consumption:
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1.003 billion cu m (2007) |
Natural gas - consumption - per capita:
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772 cu m per capita |
Natural gas - exports:
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0 cu m (2007) |
Natural gas - imports:
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1.003 billion cu m (2007 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2006 est.) |
Agriculture - products:
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potatoes, vegetables; livestock and dairy products; fish |
Current account balance:
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-$3.037 billion (2008 est.) |
Current account balance - per capita:
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-2,337 USD per capita |
Exports:
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$13.16 billion f.o.b. (2008 est.) |
Exports per capita:
|
10,128 USD per capita |
Exports - commodities:
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machinery and equipment 29%, wood and paper 13%, metals 10%, food products 8%, textiles 5%, chemical products (2007) |
Exports - partners:
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Finland 17.9%, Sweden 13.2%, Latvia 11.4%, Russia 8.9%, Lithuania 5.8%, Germany 5.2%, US 4.1% (2007) |
Imports:
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$16.23 billion f.o.b. (2008 est.) |
Imports per capita:
|
12,491 USD per capita |
Imports - commodities:
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machinery and equipment 35%, textiles 19%, mineral fuels 19%, chemical products 9%, foodstuffs 6% (2001) |
Imports - partners:
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Finland 15.9%, Germany 12.8%, Sweden 10.1%, Russia 10%, Latvia 7.6%, Lithuania 6.9%, Poland 4.5% (2007) |
Reserves of foreign exchange and gold:
|
$3.657 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
2,815 USD per capita |
Debt - external:
|
$29.5 billion (31 December 2008 est.) |
Debt - external - per capita:
|
22,704 USD per capita |
Stock of direct foreign investment - at home:
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$18.94 billion (2008 est.) |
Stock of direct foreign investment - at home - per capita:
|
14,577 USD per capita |
Stock of direct foreign investment - abroad:
|
$6.723 billion (2008 est.) |
Stock of direct foreign investment - abroad - per capita:
|
5,175 USD per capita |
Market value of publicly traded shares:
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$6.037 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
|
4,647 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$135.5 million (2004) |
Economic aid - recipient per capita:
|
105 USD per capita |
Currency (code):
|
Estonian kroon (EEK) |
Exchange rates:
|
krooni (EEK) per US dollar - 10.7 (2008), 11.535 (2007), 12.473 (2006), 12.584 (2005), 12.596 (2004)
note: the krooni is pegged to the euro |
Fiscal year:
|
calendar year |
|
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