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Estonia Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











Estonia Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 13, 2013

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.)
country comparison to the world: 113

$27.76 billion (2011 est.)
$25.79 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$21.42 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.4% (2012 est.)
country comparison to the world: 135

7.6% (2011 est.)
2.3% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$21,200 (2012 est.)
country comparison to the world: 60

$20,700 (2011 est.)
$19,200 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 3.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 30.2%
services: 66.1% (2012 est.)

Labor force:
675,900 (2012 est.)
country comparison to the world: 153
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 4.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.2%
services: 75.6% (2010)

Unemployment rate:
11.5% (2012 est.)
country comparison to the world: 125

12.5% (2011 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
17.5% (2010)
[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)

Distribution of family income - Gini index:
31.3 (2010)
country comparison to the world: 108

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

Investment (gross fixed):
23.3% of GDP (2012 est.)
country comparison to the world: 58
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $7.915 billion
[see also: Budget revenues country ranks ]
expenditures: $8.439 billion (2012 est.)

Taxes and other revenues:
37% of GDP (2012 est.)
country comparison to the world: 61
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.4% of GDP (2012 est.)
country comparison to the world: 82
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
8% of GDP (2012 est.)
country comparison to the world: 143

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
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
3.3% (2012 est.)
country comparison to the world: 92

5% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
8% (31 December 2012 est.)
country comparison to the world: 141

6.1% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$7.033 billion (31 December 2012 est.)
country comparison to the world: 89

$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
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$12.11 billion (31 December 2012 est.)
country comparison to the world: 100

$11.73 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$19.77 billion (31 December 2012 est.)
country comparison to the world: 85

$19.14 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.611 billion (31 December 2011)
country comparison to the world: 97

$2.26 billion (31 December 2010)
$2.654 billion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

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.)
country comparison to the world: 3
[see also: Industrial production growth rate country ranks ]

Current account balance:
$498 million (2012 est.)
country comparison to the world: 48

$477 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$17.38 billion (2012 est.)
country comparison to the world: 78

$16.78 billion (2011 est.)
[see also: Exports country ranks ]

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.)
country comparison to the world: 80

$17.09 billion (2011 est.)
[see also: Imports country ranks ]

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.)
country comparison to the world: 157

$207.5 million (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$25.92 billion (31 December 2012 est.)
country comparison to the world: 73

$24.98 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$16.76 billion (31 December 2012 est.)
country comparison to the world: 76

$16.56 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$6.609 billion (31 December 2012 est.)
country comparison to the world: 60

$7.359 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

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


NOTE: 1) The information regarding Estonia on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Estonia Economy 2013 information contained here. All suggestions for corrections of any errors about Estonia Economy 2013 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 11-Mar-13
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