Estonia - Economic Indicators

Ukraine Crisis Reveals Vulnerabilities of Former Soviet Bloc Economies

May 10, 2022

Price pressures were evident in Eastern Europe and the Baltics before the invasion of Ukraine, and the region is more susceptible than the rest of the EU to commodity price rises. Although trade links have sharply pivoted towards the EU since 1990, the Soviet legacy has left Eastern Europe and the Baltics more dependent on exports to Russia and Ukraine. Poland’s schools will struggle to meet the educational needs of Ukrainian refugees. Historic...

Continue reading on Economy.com View Factbook for Estonia

GDP Reference Last Previous Units Frequency
Real Private Consumption 2022 Q1 3,024 3,258 Mil. Ch. 2015 EUR, NSA Quarterly
Government Consumption 2022 Q1 1,558 1,851 Mil. EUR, NSA Quarterly
Real Investment 2022 Q1 2,036 1,559 Mil. Ch. 2015 EUR, SA Quarterly
Private Consumption 2022 Q1 3,814 3,943 Mil. EUR, NSA Quarterly
Real Fixed Investment (gross fixed capital formation) 2022 Q1 1,331 1,883 Mil. Ch. 2015 EUR, NSA Quarterly
Real Gross Domestic Product 2022 Q1 6,542 6,536 Mil. Ch. 2015 EUR, WDASA Quarterly
Nominal Gross Domestic Product 2022 Q1 8,582 8,221 Mil. EUR, WDASA Quarterly
Investment 2022 Q1 2,488 1,791 Mil. EUR, SA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2022 Q1 1,634 2,209 Mil. EUR, NSA Quarterly
Real Government Consumption 2022 Q1 1,084 1,370 Mil. Ch. 2015 EUR, NSA Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) May 2022 261.8 256.86 1997=100, NSA Monthly
Producer Price Index (PPI) May 2022 157.87 153.14 2010=100, NSA Monthly
Wholesale Price Index 2016 106.56 107.29 Index 2010 = 100 Annual
Labor Reference Last Previous Units Frequency
Wage & Salaries 2022 Q1 4,029 3,875 Mil. EUR, SA Quarterly
Labor Force Employment 2022 Q1 675.3 659.7 Ths. #, NSA Quarterly
Labor Force 2022 Q1 714.9 696 Ths. #, NSA Quarterly
Unemployment 2022 Q1 39.6 36.3 Ths. #, NSA Quarterly
Unemployment Rate 2022 Q1 5.5 5.2 %, NSA Quarterly
Tertiary Industries Employment 2021 446.8 445.8 Ths. # Annual
Secondary Industries Employment 2021 189.9 191.3 Ths. # Annual
Primary Industries Employment 2021 17.6 19.5 Ths. # Annual
Agriculture Employment 2017 26,896 27,028 # Annual
Trade Reference Last Previous Units Frequency
Exports of Goods Apr 2022 1,598 1,999 Mil. EUR, NSA Monthly
Balance of Goods Apr 2022 -541.7 -177.94 Mil. EUR, NSA Monthly
Imports of Goods Apr 2022 2,140 2,177 Mil. EUR, NSA Monthly
Current Account Balance 2022 Q1 115.7 354.2 Mil. EUR, NSA Quarterly
Imports of Goods and Services 2022 Q1 6,628 6,750 Mil. EUR, NSA Quarterly
Exports of Goods and Services 2022 Q1 6,778 7,348 Mil. EUR, NSA Quarterly
Real Exports of Goods and Services 2022 Q1 5,491 6,250 Mil. Ch. 2015 EUR, NSA Quarterly
Real Net Exports 2022 Q1 -68.51 642.35 Mil. Ch. 2015 EUR, SA Quarterly
Real Imports of Goods and Services 2022 Q1 5,421 5,804 Mil. Ch. 2015 EUR, NSA Quarterly
Net Exports 2022 Q1 -14.98 822.47 Mil. EUR, SA Quarterly
Government Reference Last Previous Units Frequency
Outstanding Public Debt - Foreign 2022 Q1 4,923 5,109 Mil. EUR, NSA Quarterly
Gross External Debt 2022 Q1 27,908 26,629 Mil. EUR, NSA Quarterly
Outstanding Public Debt 2022 Q1 5,629 5,534 Mil. EUR, NSA Quarterly
Government Budget Balance 2022 Q1 -246.3 -31.5 Mil. EUR, NSA Quarterly
Government Expenditures 2022 Q1 3,186 3,738 Mil. EUR, NSA Quarterly
Government Revenues 2022 Q1 2,940 3,706 Mil. EUR, NSA Quarterly
Markets Reference Last Previous Units Frequency
Stock Market Index 22 Jun 2022 1,735 1,746 Index June 4 1996=100, NSA Business Daily
Money Market Rate Dec 2021 -0.49 -0.49 %, NSA Monthly
Business Lending Rate Jun 2017 3.19 4.34 % p.a., NSA Monthly
Real Estate Reference Last Previous Units Frequency
House Price Index 2022 Q1 269.51 256.12 Index 2010=100, SA Quarterly
Building Permits 2022 Q1 2,047 1,858 #, SA Quarterly
Residential Building Permits 2022 Q1 1,851 2,064 #, NSA Quarterly
Building Completions 2022 Q1 1,240 1,629 #, NSA Quarterly
Residential Building Completions 2019 7,014 6,472 # Annual
Non-residential Building Completions 2019 1,410 1,000 # Annual
Dwelling Stocks 2019 7 6.5 Ths. # Annual
Non-residential Building Permits 2009 29.03 # Annual
Consumer Reference Last Previous Units Frequency
Consumer Confidence May 2022 -28.4 -19.4 SA Monthly
Retail Sales 2022 Q1 2,116 2,292 Mil. EUR, NSA Quarterly
Business Reference Last Previous Units Frequency
Capacity Utilization 2022 Q2 70 72.3 %, SA Quarterly
Business Confidence May 2022 13 13.9 SA Monthly
Industrial Production Apr 2022 127.7 141.4 Vol. Index 2015=100, NSA Monthly
Real Change in Inventories 2022 Q1 428.92 -62.25 Mil. Ch. 2015 EUR, NSA Quarterly
Change in Inventories 2022 Q1 480.74 -123.82 Mil. EUR, NSA Quarterly
Demographics Reference Last Previous Units Frequency
Population 2022 1,331,796 1,330,068 # Annual
Births May 2022 1,085 889 #, NSA Monthly
Deaths Dec 2021 1,664 1,734 #, NSA Monthly
Net Migration 2017 -4,999 # Annual
Birth Rate 2016 10.7 # per Ths. pop. Annual
Death Rate 2011 11.5 # per Ths. pop. Annual

Factbook

Background

Background:
After centuries of Danish, Swedish, German, and Russian rule, Estonia attained independence in 1918. Forcibly incorporated into the USSR in 1940 - an action never recognized by the US and many other countries - it regained its freedom in 1991 with the collapse of the Soviet Union. Since the last Russian troops left in 1994, Estonia has been free to promote economic and political ties with the West. It joined both NATO and the EU in the spring of 2004, formally joined the OECD in late 2010, and adopted the euro as its official currency on 1 January 2011.

Geography

Location:
Eastern Europe, bordering the Baltic Sea and Gulf of Finland, between Latvia and Russia
Geographic coordinates:
59 00 N, 26 00 E
Map references:
Europe
Area:
total: 45,228 sq km
land: 42,388 sq km
water: 2,840 sq km
note: includes 1,520 islands in the Baltic Sea
country comparison to the world: 133
Area - comparative:
about twice the size of New Jersey
Area comparison map:
Land boundaries:
total: 657 km
border countries (2): Latvia 333 km, Russia 324 km
Coastline:
3,794 km
Maritime claims:
territorial sea: 12 nm
exclusive economic zone: limits as agreed to by Estonia, Finland, Latvia, Sweden, and Russia
Climate:
maritime; wet, moderate winters, cool summers
Terrain:
marshy, lowlands; flat in the north, hilly in the south
Elevation:
mean elevation: 61 m
elevation extremes: lowest point: Baltic Sea 0 m
highest point: Suur Munamagi 318 m
Natural resources:
oil shale, peat, rare earth elements, phosphorite, clay, limestone, sand, dolomite, arable land, sea mud
Land use:
agricultural land: 22.2%
arable land 14.9%; permanent crops 0.1%; permanent pasture 7.2%
forest: 52.1%
other: 25.7% (2011 est.)
Irrigated land:
40 sq km (2012)
Population - distribution:
a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations
Natural hazards:
sometimes flooding occurs in the spring
Environment - current issues:
air polluted with sulfur dioxide from oil-shale burning power plants in northeast; however, the amounts of pollutants emitted to the air have fallen dramatically and the pollution load of wastewater at purification plants has decreased substantially due to improved technology and environmental monitoring; Estonia has more than 1,400 natural and manmade lakes, the smaller of which in agricultural areas need to be monitored; coastal seawater is polluted in certain locations
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Volatile Organic Compounds, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
the mainland terrain is flat, boggy, and partly wooded; offshore lie more than 1,500 islands

People & Society

Population:
1,251,581 (July 2017 est.)
country comparison to the world: 158
Nationality:
noun: Estonian(s)
adjective: Estonian
Ethnic groups:
Estonian 68.7%, Russian 24.8%, Ukrainian 1.7%, Belarusian 1%, Finn 0.6%, other 1.6%, unspecified 1.6% (2011 est.)
Languages:
Estonian (official) 68.5%, Russian 29.6%, Ukrainian 0.6%, other 1.2%, unspecified 0.1% (2011 est.)
Religions:
Lutheran 9.9%, Orthodox 16.2%, other Christian (including Methodist, Seventh-Day Adventist, Roman Catholic, Pentecostal) 2.2%, other 0.9%, none 54.1%, unspecified 16.7% (2011 est.)
Age structure:
0-14 years: 16.23% (male 104,130/female 98,941)
15-24 years: 8.99% (male 58,432/female 54,122)
25-54 years: 41.37% (male 261,366/female 256,383)
55-64 years: 13.57% (male 76,591/female 93,194)
65 years and over: 19.85% (male 84,466/female 163,956) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 53.7
youth dependency ratio: 24.8
elderly dependency ratio: 28.9
potential support ratio: 3.5 (2015 est.)
Median age:
total: 42.7 years
male: 39.4 years
female: 46.1 years (2017 est.)
country comparison to the world: 23
Population growth rate:
-0.57% (2017 est.)
country comparison to the world: 225
Birth rate:
10.1 births/1,000 population (2017 est.)
country comparison to the world: 193
Death rate:
12.6 deaths/1,000 population (2017 est.)
country comparison to the world: 17
Net migration rate:
-3.2 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 175
Population distribution:
a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations
Urbanization:
urban population: 67.4% of total population (2017)
rate of urbanization: -0.37% annual rate of change (2015-20 est.)
Major urban areas - population:
TALLINN (capital) 391,000 (2015)
Sex ratio:
at birth: 1.05 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.08 male(s)/female
25-54 years: 1.01 male(s)/female
55-64 years: 0.81 male(s)/female
65 years and over: 0.51 male(s)/female
total population: 0.88 male(s)/female (2017 est.)
Mother's mean age at first birth:
26.6 years (2014 est.)
Maternal mortality ratio:
9 deaths/100,000 live births (2015 est.)
country comparison to the world: 151
Infant mortality rate:
total: 3.8 deaths/1,000 live births
male: 3.7 deaths/1,000 live births
female: 3.9 deaths/1,000 live births (2017 est.)
country comparison to the world: 196
Life expectancy at birth:
total population: 76.9 years
male: 72.1 years
female: 81.9 years (2017 est.)
country comparison to the world: 83
Total fertility rate:
1.6 children born/woman (2017 est.)
country comparison to the world: 181
Health expenditures:
6.4% of GDP (2014)
country comparison to the world: 94
Physicians density:
3.43 physicians/1,000 population (2015)
Hospital bed density:
5 beds/1,000 population (2015)
Drinking water source:
improved:
urban: 100% of population
rural: 99% of population
total: 99.6% of population
unimproved:
urban: 0% of population
rural: 1% of population
total: 0.4% of population (2015 est.)
Sanitation facility access:
improved:
urban: 97.5% of population
rural: 96.6% of population
total: 97.2% of population
unimproved:
urban: 2.5% of population
rural: 3.4% of population
total: 2.8% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA
HIV/AIDS - deaths:
NA
Major infectious diseases:
degree of risk: intermediate
vectorborne disease: tickborne encephalitis (2016)
Obesity - adult prevalence rate:
21.2% (2016)
country comparison to the world: 92
Education expenditures:
5.5% of GDP (2014)
country comparison to the world: 52
Literacy:
definition: age 15 and over can read and write
total population: 99.8%
male: 99.8%
female: 99.8% (2015 est.)
School life expectancy (primary to tertiary education):
total: 16 years
male: 16 years
female: 17 years (2015)
Unemployment, youth ages 15-24:
total: 13.1%
male: 13.8%
female: 12.2% (2015 est.)
country comparison to the world: 99

Government

Country name:
conventional long form: Republic of Estonia
conventional short form: Estonia
local long form: Eesti Vabariik
local short form: Eesti
former: Estonian Soviet Socialist Republic
etymology: the country name may derive from the Aesti, an ancient people who lived along the eastern Baltic Sea in the first centuries A.D.
Government type:
parliamentary republic
Capital:
name: Tallinn
geographic coordinates: 59 26 N, 24 43 E
time difference: UTC+2 (7 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
15 counties (maakonnad, singular - maakond); Harjumaa (Tallinn), Hiiumaa (Kardla), Ida-Virumaa (Johvi), Jarvamaa (Paide), Jogevamaa (Jogeva), Laanemaa (Haapsalu), Laane-Virumaa (Rakvere), Parnumaa (Parnu), Polvamaa (Polva), Raplamaa (Rapla), Saaremaa (Kuressaare), Tartumaa (Tartu), Valgamaa (Valga), Viljandimaa (Viljandi), Vorumaa (Voru)
note: counties have the administrative center name following in parentheses
Independence:
20 August 1991 (declared); 6 September 1991 (recognized by the Soviet Union)
National holiday:
Independence Day, 24 February (1918); note - 24 February 1918 was the date Estonia declared its independence from Soviet Russia and established its statehood; 20 August 1991 was the date it declared its independence from the Soviet Union
Constitution:
history: several previous; latest adopted 28 June 1992
amendments: proposed by at least one-fifth of Parliament members or by the president of the republic; passage requires three readings of the proposed amendment and a simple majority vote in two successive memberships of Parliament; passage of amendments to the “General Provisions” and “Amendment of the Constitution” chapters requires at least three-fifths majority vote by Parliament to conduct a referendum and majority vote in a referendum; amended several times, last in 2015 (2016)
Legal system:
civil law system
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Estonia
dual citizenship recognized: no
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal; age 16 for local elections
Executive branch:
chief of state: President Kersti KALJULAID (since 10 October 2016)
head of government: Juri RATAS (since 23 November 2016)
cabinet: Cabinet appointed by the prime minister, approved by Parliament
elections/appointments: president indirectly elected by Parliament for a 5-year term (eligible for a second term); if a candidate does not secure two-thirds of the votes after 3 rounds of balloting, then an electoral college consisting of Parliament members and local council members elects the president, choosing between the 2 candidates with the highest number of votes; election last held on 29-30 August 2016, but three rounds were inconclusive; two electoral college votes on 24 September 2016 were also indecisive, so the election passed back to Parliament; on 3 October the Parliament elected Kersti KALJULAID as president; prime minister nominated by the president and approved by Parliament
election results: Kersti KALJULAID elected president; Parliament vote - Kersti KALJULAID (independent) 81 of 98 votes; note - KALJULAID is Estonia's first female president
Legislative branch:
description: unicameral Parliament or Riigikogu (101 seats; members directly elected in multi-seat constituencies by proportional representation vote to serve 4-year terms)
elections: last held on 1 March 2015 (next to be held in March 2019)
election results: percent of vote by party - RE 27.7%, K 24.8%, SDE 15.2%, IRL 13.7%, EV 8.7%, EKRE 8.1%, other 1.8%; seats by party - RE 30, K 27, SDE 15, IRL 14, EV 8, EKRE 7
Judicial branch:
highest court(s): Supreme Court (consists of 19 justices including the chief justice and organized into civil, criminal, administrative, and constitutional review chambers)
judge selection and term of office: the chief justice is proposed by the president of the republic and appointed by the Riigikogu; other justices proposed by the chief justice and appointed by the Riigikogu; justices appointed for life
subordinate courts: circuit (appellate) courts; administrative, county, city, and specialized courts
Political parties and leaders:
Center Party of Estonia (Keskerakond) or EK [Juri RATAS]
Estonian Conservative People's Party (Konservatiivne Rahvaerakond) or EKRE [Mart HELME]
Estonian Reform Party (Reformierakond) or RE [Kaja KALLAS]
Free Party or EV [Andres HERKEL]
Social Democratic Party or SDE [Jevgeni OSSINOVSKI]
Union of Pro Patria and Res Publica (Isamaa je Res Publica Liit) or IRL [Helir-Valdor SEEDER]
International organization participation:
Australia Group, BA, BIS, CBSS, CD, CE, EAPC, EBRD, ECB, EIB, EMU, ESA (cooperating state), EU, FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, NATO, NIB, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNTSO, UPU, WCO, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Lauri LEPIK (since 8 September 2017)
chancery: 2131 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 588-0101
FAX: [1] (202) 588-0108
consulate(s) general: New York
Diplomatic representation from the US:
chief of mission: Ambassador James D. MELVILLE Jr. (since 8 December 2015)
embassy: Kentmanni 20, 15099 Tallinn
mailing address: use embassy street address
telephone: [372] 668-8100
FAX: [372] 668-8265
Flag description:
three equal horizontal bands of blue (top), black, and white; various interpretations are linked to the flag colors; blue represents faith, loyalty, and devotion, while also reminiscent of the sky, sea, and lakes of the country; black symbolizes the soil of the country and the dark past and suffering endured by the Estonian people; white refers to the striving towards enlightenment and virtue, and is the color of birch bark and snow, as well as summer nights illuminated by the midnight sun
National symbol(s):
barn swallow, cornflower; national colors: blue, black, white
National anthem:
name: "Mu isamaa, mu onn ja room" (My Native Land, My Pride and Joy)
lyrics/music: Johann Voldemar JANNSEN/Fredrik PACIUS
note: adopted 1920, though banned between 1940 and 1990 under Soviet occupation; the anthem, used in Estonia since 1869, shares the same melody as Finland's but has different lyrics

Economy

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, but its economy is highly dependent on trade, leaving it vulnerable to external shocks. Estonia's successive governments have pursued a free market, pro-business economic agenda, and sound fiscal policies that have resulted in balanced budgets and the lowest debt-to-GDP ratio in the EU.
The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, Germany, and Russia. 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 a continuing recession in much of the EU. GDP growth dropped below 2% in 2015 due to lower demand in key Scandinavian and Russian export markets. Rapid increases in investment, which includes EU development funding, and the recovery of export markets contributed to an estimated 4.2% GDP growth in 2017. Inflation also rose in 2017 alongside increased global prices for food and energy, which make up a large share of Estonia’s consumption basket.
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, and wage growth that outpaces productivity gains. The government is also pursuing efforts to boost productivity growth with a focus on innovations that emphasize technology start-ups and e-commerce.
GDP (purchasing power parity):
$41.2 billion (2017 est.)
$39.62 billion (2016 est.)
$38.82 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 116
GDP (official exchange rate):
$25.68 billion (2017 est.)
GDP - real growth rate:
4% (2017 est.)
2.1% (2016 est.)
1.7% (2015 est.)
country comparison to the world: 72
GDP - per capita (PPP):
$31,500 (2017 est.)
$30,200 (2016 est.)
$29,600 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 61
Gross national saving:
26.3% of GDP (2017 est.)
24.6% of GDP (2016 est.)
26% of GDP (2015 est.)
country comparison to the world: 43
GDP - composition, by end use:
household consumption: 52.2%
government consumption: 20.5%
investment in fixed capital: 24.7%
investment in inventories: -1.1%
exports of goods and services: 85.9%
imports of goods and services: -82.2% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 3.4%
industry: 27.8%
services: 68.8% (2017 est.)
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:
3.8% (2017 est.)
country comparison to the world: 76
Labor force:
670,200 (2017 est.)
country comparison to the world: 153
Labor force - by occupation:
agriculture: 3.1%
industry: 20.2%
services: 76.7% (2016 est.)
Unemployment rate:
8.4% (2017 est.)
6.8% (2016 est.)
country comparison to the world: 115
Population below poverty line:
21.3% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 25.6% (2015 est.)
Distribution of family income - Gini index:
34.8 (2015 est.)
35.6 (2014 est.)
country comparison to the world: 99
Budget:
revenues: $9.772 billion
expenditures: $9.89 billion (2017 est.)
Taxes and other revenues:
38% of GDP (2017 est.)
country comparison to the world: 45
Budget surplus (+) or deficit (-):
-0.5% of GDP (2017 est.)
country comparison to the world: 47
Public debt:
9.3% of GDP (2017 est.)
9.5% of GDP (2016 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: 198
Fiscal year:
calendar year
Inflation rate (consumer prices):
3.8% (2017 est.)
0.8% (2016 est.)
country comparison to the world: 153
Central bank discount rate:
0% (31 December 2017 est.)
0.05% (31 December 2016 est.)
country comparison to the world: 157
Commercial bank prime lending rate:
4.2% (31 December 2017 est.)
4.23% (31 December 2016 est.)
country comparison to the world: 159
Stock of narrow money:
$13.42 billion (31 December 2017 est.)
$11.8 billion (31 December 2016 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 money circulating within their own borders
country comparison to the world: 77
Stock of broad money:
$16.55 billion (31 December 2017 est.)
$14.66 billion (31 December 2016 est.)
country comparison to the world: 96
Stock of domestic credit:
$23.2 billion (31 December 2017 est.)
$20.97 billion (31 December 2016 est.)
country comparison to the world: 85
Market value of publicly traded shares:
$6.76 billion (31 December 2017 est.)
$6.799 billion (31 December 2016 est.)
$7.127 billion (31 December 2015 est.)
country comparison to the world: 80
Current account balance:
$452 million (2017 est.)
$443 million (2016 est.)
country comparison to the world: 47
Exports:
$14.02 billion (2017 est.)
$12.36 billion (2016 est.)
country comparison to the world: 79
Exports - commodities:
machinery and electrical equipment 30%, food products and beverages 9%, mineral fuels 6%, wood and wood products 14%, articles of base metals 7%, furniture and bedding 11%, vehicles and parts 3%, chemicals 4% (2016 est.)
Exports - partners:
Sweden 17.9%, Finland 16%, Latvia 9.2%, Russia 6.5%, Lithuania 6%, Germany 5.9%, Norway 4.1% (2016)
Imports:
$15.31 billion (2017 est.)
$13.31 billion (2016 est.)
country comparison to the world: 85
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 13%, Germany 11%, Lithuania 9%, Sweden 8.3%, Latvia 8.2%, Poland 7.2%, Netherlands 6.3%, Russia 5.7%, China 4.8% (2016)
Reserves of foreign exchange and gold:
$389.8 million (31 December 2017 est.)
$352.2 million (31 December 2016 est.)
country comparison to the world: 150
Debt - external:
$19.05 billion (31 December 2016 est.)
$18.3 billion (31 December 2015 est.)
country comparison to the world: 93
Stock of direct foreign investment - at home:
$23.84 billion (31 December 2017 est.)
$22.19 billion (31 December 2016 est.)
country comparison to the world: 75
Stock of direct foreign investment - abroad:
$9.771 billion (31 December 2017 est.)
$9.396 billion (31 December 2016 est.)
country comparison to the world: 62
Exchange rates:
euros (EUR) per US dollar -
0.89 (2017 est.)
0.9 (2016 est.)
0.92 (2015 est.)
0.89 (2014 est.)
0.76 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
9.779 billion kWh (2015 est.)
country comparison to the world: 101
Electricity - consumption:
8.158 billion kWh (2015 est.)
country comparison to the world: 102
Electricity - exports:
5.613 billion kWh (2016 est.)
country comparison to the world: 33
Electricity - imports:
3.573 billion kWh (2016 est.)
country comparison to the world: 49
Electricity - installed generating capacity:
2.864 million kW (2015 est.)
country comparison to the world: 99
Electricity - from fossil fuels:
75.6% of total installed capacity (2015 est.)
country comparison to the world: 95
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 85
Electricity - from hydroelectric plants:
0.2% of total installed capacity (2015 est.)
country comparison to the world: 154
Electricity - from other renewable sources:
25.1% of total installed capacity (2015 est.)
country comparison to the world: 22
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 130
Crude oil - exports:
0 bbl/day (2016 est.)
country comparison to the world: 118
Crude oil - imports:
0 bbl/day (2016 est.)
country comparison to the world: 121
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 130
Refined petroleum products - production:
0 bbl/day (2016 est.)
country comparison to the world: 138
Refined petroleum products - consumption:
29,140 bbl/day (2016 est.)
country comparison to the world: 123
Refined petroleum products - exports:
21,250 bbl/day (2016 est.)
country comparison to the world: 70
Refined petroleum products - imports:
34,410 bbl/day (2016 est.)
country comparison to the world: 97
Natural gas - production:
0 cu m (2015 est.)
country comparison to the world: 130
Natural gas - consumption:
964 million cu m (2015 est.)
country comparison to the world: 100
Natural gas - exports:
0 cu m (2015 est.)
country comparison to the world: 98
Natural gas - imports:
471 million cu m (2015 est.)
country comparison to the world: 68
Natural gas - proved reserves:
0 cu m (1 January 2014 est.)
country comparison to the world: 135
Carbon dioxide emissions from consumption of energy:
5.8 million Mt (2015 est.)
country comparison to the world: 123

Communications

Telephones - fixed lines:
total subscriptions: 370,589
subscriptions per 100 inhabitants: 29 (July 2016 est.)
country comparison to the world: 106
Telephones - mobile cellular:
total: 1,897,921
subscriptions per 100 inhabitants: 152 (July 2016 est.)
country comparison to the world: 153
Telephone system:
general assessment: foreign investment in the form of joint business ventures greatly improved telephone service with a wide range of high-quality voice, data, and Internet services available
domestic: substantial fiber-optic cable systems carry telephone, TV, and radio traffic in the digital mode; Internet services are widely available; schools and libraries are connected to the Internet, a large percentage of the population files income tax returns online, and online voting - in local and parliamentary elections - has climbed steadily since first introduced in 2005; 85% of Estonian households have broadband access
international: country code - 372; fiber-optic cables to Finland, Sweden, Latvia, and Russia provide worldwide packet-switched service; 2 international switches are located in Tallinn (2016)
Broadcast media:
the publicly owned broadcaster, Eesti Rahvusringhaaling (ERR), operates 3 TV channels and 5 radio networks; growing number of private commercial radio stations broadcasting nationally, regionally, and locally; fully transitioned to digital television in 2010; national private TV channels expanding service; a range of channels are aimed at Russian-speaking viewers; in 2016, there were 42 on-demand services available in Estonia, including 19 pay TVOD and SVOD services; roughly 85% of households accessed digital television services (2016)
Internet country code:
.ee
Internet users:
total: 1,097,921
percent of population: 87.2% (July 2016 est.)
country comparison to the world: 133

Transportation

National air transport system:
number of registered air carriers: 3
inventory of registered aircraft operated by air carriers: 14
annual passenger traffic on registered air carriers: 512,388
annual freight traffic on registered air carriers: 870,362 mt-km (2015)
Civil aircraft registration country code prefix:
ES (2016)
Airports:
18 (2013)
country comparison to the world: 141
Airports - with paved runways:
total: 13
over 3,047 m: 2
2,438 to 3,047 m: 8
1,524 to 2,437 m: 2
914 to 1,523 m: 1 (2017)
Airports - with unpaved runways:
total: 5
1,524 to 2,437 m: 1
914 to 1,523 m: 1
under 914 m: 3 (2013)
Heliports:
1 (2012)
Pipelines:
gas 2,360 km (2016)
Railways:
total: 2,146 km
broad gauge: 2,146 km 1.520-m and 1.524-m gauge (132 km electrified)
note: includes 1,510 km public and 636 km non-public railway (2016)
country comparison to the world: 72
Roadways:
total: 58,412 km (includes urban roads)
paved: 10,427 km (includes 115 km of expressways)
unpaved: 47,985 km (2011)
country comparison to the world: 73
Waterways:
335 km (320 km are navigable year-round) (2011)
country comparison to the world: 90
Merchant marine:
total: 78
by type: general cargo 7, oil tanker 5, other 66 (2017)
country comparison to the world: 98
Ports and terminals:
major seaport(s): Kuivastu, Kunda, Muuga, Parnu Reid, Sillamae, Tallinn

Military & Security

Military expenditures:
2.17% of GDP (2016)
2.09% of GDP (2015)
1.95% of GDP (2014)
1.91% of GDP (2013)
1.9% of GDP (2012)
country comparison to the world: 47
Military branches:
Estonian Defense Forces (Eesti Kaitsevagi): Ground Forces (Maavagi), Navy (Merevagi), Air Force (Ohuvagi), Reserves (Kaitseliit) (2016)
Military service age and obligation:
18-27 for compulsory military or governmental service, conscript service requirement 8-11 months depending on education; NCOs, reserve officers, and specialists serve 11 months (2016)

Transnational Issues

Disputes - international:
Russia and Estonia in May 2005 signed a technical border agreement, but Russia in June 2005 recalled its signature after the Estonian parliament added to its domestic ratification act a historical preamble referencing the Soviet occupation and Estonia's pre-war borders under the 1920 Treaty of Tartu; Russia contends that the preamble allows Estonia to make territorial claims on Russia in the future, while Estonian officials deny that the preamble has any legal impact on the treaty text; Russia demands better treatment of the Russian-speaking population in Estonia; as a member state that forms part of the EU's external border, Estonia implements strict Schengen border rules with Russia
Refugees and internally displaced persons:
stateless persons: 82,585 (2016); note - following independence in 1991, automatic citizenship was restricted to those who were Estonian citizens prior to the 1940 Soviet occupation and their descendants; thousands of ethnic Russians remained stateless when forced to choose between passing Estonian language and citizenship tests or applying for Russian citizenship; one reason for demurring on Estonian citizenship was to retain the right of visa-free travel to Russia; stateless residents can vote in local elections but not general elections; stateless parents who have been lawful residents of Estonia for at least five years can apply for citizenship for their children before they turn 15 years old
Illicit drugs:
growing producer of synthetic drugs; increasingly important transshipment zone for cannabis, cocaine, opiates, and synthetic drugs since joining the European Union and the Schengen Accord; potential money laundering related to organized crime and drug trafficking is a concern, as is possible use of the gambling sector to launder funds; major use of opiates and ecstasy

Economic Indicators for Estonia including actual values, historical data, and latest data updates for the Estonia economy.



Latest Analysis