Economy of Estonia
Population: 1.32 M (2018)
GDP per Capita: 23,266 USD (2018)
30,730 M.

GDP USD

(2018)

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22,820 M.

EXPORTS USD

(2018)

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21,740 M.

IMPORTS USD

(2018)

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8.40 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 4.76 % (2018)
GDP of 2010 USD USD 26.40 B. (2018)
GDP Current USD USD 30.73 B. (2018)
GDP per Capita Current USD USD 23,266 (2018)
GDP per capita, PPP USD 31,035 (2018)
GDP per Capita, 2010 USD USD 19,954 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 19.62 % (2018)
Government Spending USD 6.03 B. (2018)
Government Debt % GDP 8.40 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 121.66 (2018)
Trade Openness 145.00 % (2018)
Exports of Goods and Services % GDP 74.26 % (2018)
Exports Goods & Services USD 22.82 B. (2018)
Exports Annual Growth 4.29 % (2018)
Imports as % GDP 70.74 % (2018)
Total Imports USD 21.74 B. (2018)
Foreign Direct Investment % GDP 3.84 % (2018)
Foreign Direct Investment USD 1.19 B. (2018)
Current Account Balance % GDP USD 1.99 % (2018)
Current Account Balance USD 0.61 B. (2018)
Trade Balance % GDP 3.51 % (2018)
Trade Balance USD 1.08 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.76 B. (2018)
Remittances % GDP 1.84 % (2018)
Remittances USD 170 M. (2018)
Balance of Payments USD 182 M. (2015)

Labor Market

Indicator Value
Labor Force 0.69 M. (2019)
Unemployment Rate 5.88 % (2019)
Unemployment Rate Females 4.97 % (2019)
Unemployment Rate Males 5.25 % (2019)
Youth Unemployment (ages 15-24) 11.88 % (2019)
Labor Force Participation Rate 63.07 % (2019)
Labor Force (Percent Female) 48.11 % (2019)
Female Labor Force Participation Rate 56.74 % (2019)
Male Labor Force Participation Rate 70.49 % (2019)
Dependent People 56.21 % (2018)

Agriculture Sector

Indicator Value
Forest Area 51.30 % (2016)
Forest Area km² 22,316 km² (2016)
Agricultural Land 23.07 % (2016)
Agricultural Land km² 10,030 km² (2016)
Employment 3.45 % (2019)
Value added % GDP 2.66 % (2018)
Agriculture Value added USD 0.82 B. (2018)
Crop Production Index 148.00 (2016)
Precipitation 626 mm (2014)
Arable Land 16 % (2016)
Cereal Yield 3,967 kg/hectare (2017)
Food production index 129 (2016)
Rural Population 31 % (2018)
Fertilizer use of Arable Land 113 kg/hectare (2016)
Livestock Production Index 126 (2016)
Economy of Estonia

According to the World Bank and its latest published data, the economy of the Estonia presents a growth rate of 4.76 % (2018) to the previous year.

With a population that reaches 1.32 M (2018) and a gross domestic product of USD 30.73 B. (2018), it translates a Gross Domestic Product per Capita of USD 23,266 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Estonia also has a workforce of 0.69 M. (2019) with an unemployment rate of 5.88 % (2019), where women represent 4.97 % (2019) and men 5.25 % (2019), the unemployment rate for young people between 15-24 years old stood at 11.88 % (2019). The total number of dependent people stands at 56.21 % (2018).

The central government spent 19.62 % (2018) of its gross domestic product that year, which in absolute terms is USD 6.03 B. (2018). Its consolidated public debt reached 8.40 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Estonia exported USD 22.82 B. (2018), which represents 74.26 % (2018) of its gross domestic product, in that same sense its imports reached USD 21.74 B. (2018) with a direct foreign investment of USD 1.19 B. (2018).

Estonia has a forest area of 22,316 km² (2016), which represents 51.30 % (2016) of its total area, an average rainfall of 626 mm (2014) per year and a population of 31 % (2018) living in rural areas. With a total area of 10,030 km² (2016) available for agriculture and 3.45 % (2019) of its employments, the agricultural sector contributes to the economy of the Estonia about USD 0.82 B. (2018) (2.66 % (2018) of its GDP).