Countries
Estonia
Key Economic Indicators
$68.57 billion
$49,969
-0.09%
3.52%
8.31%
$42.765 billion (2024 est.)
<b>note:</b> central government debt as a % of GDP
$-542,856,821
Economic Overview
<p>high-income, service-based EU and eurozone economy; rebound in exports playing a role in economic recovery; rising food prices contributing to inflation; decrease in labor force participation and rising unemployment rate; recovery depends on boosting private investment and productivity rates</p> <p> </p>
All Economic Data
Agricultural products
milk, wheat, barley, rapeseed, peas, oats, potatoes, rye, pork, triticale (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
6.7% of household expenditures (2023 est.)
On food:
19.9% of household expenditures (2023 est.)
Budget
Expenditures:
$16.721 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$15.784 billion (2023 est.)
Currency
code:
EUR
name:
euro (EUR) [€]
Current account balance
$-542,856,821
Current account balance 2022:
-$1.496 billion (2022 est.)
Current account balance 2023:
-$722.668 million (2023 est.)
Current account balance 2024:
-$489.659 million (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
euros (EUR) per US dollar -
Exchange rates 2020:
0.876 (2020 est.)
Exchange rates 2021:
0.845 (2021 est.)
Exchange rates 2022:
0.95 (2022 est.)
Exchange rates 2023:
0.925 (2023 est.)
Exchange rates 2024:
0.924 (2024 est.)
Exports
$32.64 billion
Exports 2022:
$33.178 billion (2022 est.)
Exports 2023:
$32.147 billion (2023 est.)
Exports 2024:
$32.637 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
cars, wood, broadcasting equipment, refined petroleum, prefabricated buildings (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Finland 14%, Latvia 10%, Lithuania 9%, Sweden 7%, Russia 6% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$-3,437,916,450
GDP - composition, by end use
Exports of goods and services:
77.9% (2023 est.)
Government consumption:
20.6% (2023 est.)
Household consumption:
52.3% (2023 est.)
Imports of goods and services:
-77% (2023 est.)
Investment in fixed capital:
27.9% (2023 est.)
Investment in inventories:
-0.2% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.9% (2024 est.)
Industry:
20.5% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
65.1% (2024 est.)
GDP (official exchange rate)
$42.765 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$31,428
Gini Index coefficient - distribution of family income
30.3 (2018)
Gini Index coefficient - distribution of family income 2022:
32.3 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$42.26 billion
GNI per capita
$28,880
Gross domestic investment
25 % of GDP
Household income or consumption by percentage share
Highest 10%:
24.4% (2022 est.)
Lowest 10%:
2.8% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$32.51 billion
Imports 2022:
$33.655 billion (2022 est.)
Imports 2023:
$31.796 billion (2023 est.)
Imports 2024:
$32.375 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
cars, refined petroleum, broadcasting equipment, natural gas, packaged medicine (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Finland 11%, Germany 11%, China 10%, Lithuania 6%, Poland 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
-7% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
food, engineering, electronics, wood and wood products, textiles; information technology, telecommunications
Inflation rate (consumer prices)
3.52%
Inflation rate (consumer prices) 2022:
19.4% (2022 est.)
Inflation rate (consumer prices) 2023:
9.2% (2023 est.)
Inflation rate (consumer prices) 2024:
3.5% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
756,200 (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
746,793 persons
Labor force - by occupation
agriculture:
2.96%
industry:
26%
services:
71.05%
Population below poverty line
22.5% (2022 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2023:
28.3% of GDP (2023 est.)
Real GDP (purchasing power parity)
$68.57 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$58.931 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$57.15 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$57.001 billion (2024 est.)
Real GDP growth rate
-0.09%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
0.1% (2022 est.)
Real GDP growth rate 2023:
-3% (2023 est.)
Real GDP growth rate 2024:
-0.3% (2024 est.)
Real GDP per capita
$49,969
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$43,700 (2022 est.)
Real GDP per capita 2023:
$41,700 (2023 est.)
Real GDP per capita 2024:
$41,500 (2024 est.)
Remittances
$496.26 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
1.2% of GDP (2022 est.)
Remittances 2023:
1.2% of GDP (2023 est.)
Remittances 2024:
1.2% of GDP (2024 est.)
Reserves of foreign exchange and gold
$2.07 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$2.217 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$2.593 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$2.075 billion (2024 est.)
Revenue (excl grants)
36 % of GDP
Tax revenue
21 % of GDP
Taxes and other revenues
21.4% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
8.31%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
5.6% (2022 est.)
Unemployment rate 2023:
6.4% (2023 est.)
Unemployment rate 2024:
7.9% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
20% (2024 est.)
Male:
21.9% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
20.9% (2024 est.)
Economic Rankings
Inflation Rate
#33
GDP per Capita
#43
Unemployment Rate
#60
Imports
#76
Exports
#78
GDP (Nominal)
#101
GDP (PPP)
#113
Reserves
#122
Gini Index
#141
GDP Growth Rate
#188
Quick Facts
Industries
food, engineering, electronics, wood and wood products, textiles; information technology, telecommunications
Agricultural products
milk, wheat, barley, rapeseed, peas, oats, potatoes, rye, pork, triticale (2023)
Labor force
756,200 (2024 est.)
Exports - partners
Finland 14%, Latvia 10%, Lithuania 9%, Sweden 7%, Russia 6% (2023)
Imports - partners
Finland 11%, Germany 11%, China 10%, Lithuania 6%, Poland 6% (2023)
Exchange rates
euros (EUR) per US dollar -
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