Economy and macro indicators
May 5, 2009, source: Foreign Affairs Ministry
National currency: kroon (EEK), 1 kroon = 100 cents
The kroon is tied to the euro at a rate of 1 EUR = 15.6466 EEK
Personal income tax and profit tax is 21%[A.S1]
Profit reinvestment is not subjected to tax
VAT is 20%
International credit rating
Moody's: А1
Standard & Poor's: A
Fitch: BBB+
Key macroeconomic indicators
|
Indicator |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Population (mln) |
1.37* |
1.36* |
1.36* |
1.35* |
1.35* |
1.36 |
1.35 |
1.34* |
|
GDP in current prices (bln EUR) |
6.9 |
7.7 |
8.7 |
9.6 |
11.0 |
13.1 |
15.2 |
15.9 |
|
Change in GDP growth over year (%) |
7.7 |
7.8 |
7.1 |
7.5 |
9.2 |
10.4 |
6.3 |
-3.6 |
|
Per capita GDP in current prices (EUR) |
5 047 |
5 702 |
6 390 |
7 148 |
8 213 |
9 634 |
11 308 |
11 833 |
|
Per capita GDP in market prices (EUR) |
9 100 |
10 200 |
11 300 |
12 400 |
13 700 |
15 400 |
16 900 |
16 800 |
|
Foreign direct investment in |
602.7 |
306.8 |
822.2 |
770.8 |
2 302.1 |
1 431.7 |
1 962.2 |
1 366.1 |
|
Foreign direct investment in |
3 573 |
4 035 |
5 553 |
7 374 |
9 539 |
9 660 |
11 332 |
11 648 |
|
Per capita foreign direct investment in |
2 608 |
2 967 |
4 083 |
5 462 |
7 066 |
7 155 |
8 394 |
8 693 |
|
Consumer price index (%) |
5.8 |
3.6 |
1.3 |
3.0 |
4.1 |
4.4 |
6.6 |
10.4 |
|
Unemployment* (%) |
12.6 |
10.3 |
10.0 |
9.7 |
7.9 |
5.9 |
4.7 |
5.5 |
|
Average monthly salary (EUR) |
352 |
393 |
430 |
466 |
516 |
601 |
724 |
826.5 |
|
Current accounts balance (% of GDP) |
-5.2 |
-10.6 |
-11.3 |
-11.7 |
-10.0 |
-16.7 |
-18.1 |
-9.2 |
|
State budget deficit (% of GDP) |
0.6 |
1.1 |
2.4 |
1.7 |
1.5 |
2.9 |
2.7 |
|
|
Exports (bln EUR)** |
3.698 |
3.642 |
4.003 |
4.769 |
6.183 |
7.639 |
8.021 |
8.452 |
|
Imports (bln EUR)** |
4.798 |
5.079 |
5.715 |
6.703 |
8.204 |
10.564 |
11.318 |
10.870 |
|
Trade balance (bln EUR)** |
-1.100 |
-1.437 |
-1.712 |
-1.934 |
-2.021 |
-2.925 |
-3.297 |
-2.418 |
|
Government sector expenditures (% of GDP) |
33.6 |
34.3 |
33.3 |
34.9 |
35.5 |
35.3 |
36.6 |
|
* According to МОТ methodology
** Data from special trade system
Sources: Bank of Estonia, Finance Ministry, Estonian Statistics Department, Eurostat
GDP by type of economic activities (as % of total GDP
|
Main areas of activities |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Real estate, rent, real estate transactions |
16.2 |
16.5 |
16.8 |
17.0 |
16.7 |
16.7 |
17.9 |
|
Production |
16.1 |
16.1 |
15.5 |
15.1 |
15.0 |
15.3 |
15.0 |
|
Wholesale and retail trade |
12.3 |
12.6 |
12.4 |
12.7 |
13.2 |
12.5 |
12.2 |
|
Transportation, communications and warehousing |
11.6 |
11.5 |
11.2 |
10.3 |
10.1 |
9.4 |
9.1 |
|
Construction |
5.2 |
5.2 |
5.3 |
6.5 |
7.4 |
7.9 |
7.4 |
|
Education |
4.4 |
4.3 |
4.2 |
4.0 |
3.7 |
3.8 |
4.3 |
|
Financial sector |
3.7 |
3.4 |
3.4 |
3.2 |
3.3 |
3.5 |
3.5 |
|
Agriculture and hunting |
2.2 |
2.0 |
2.0 |
1.9 |
1.7 |
1.4 |
1.3 |
Estonian Statistics Department
Key trading partners and exports/imports in 2008 (as % of total exports or imports)
|
Country |
Exports |
Country |
Imports |
|
1. |
18.4 |
1. |
14.2 |
|
2. |
13.9 |
2. |
13.3 |
|
3. |
10.4 |
3. |
10.0 |
|
4. |
10.0 |
4. |
8.9 |
|
5. |
5.7 |
5. |
8.8 |
|
6. |
5.0 |
6. |
7.7 |
|
7. |
4.8 |
7. |
4.6 |
|
8. |
3.3 |
8. |
3.3 |
|
9. |
3.3 |
9. |
3.3 |
|
10. |
2.7 |
10. |
2.9 |
|
Others |
22.5 |
Others |
23.0 |
|
Commodity |
Exports |
Commodity |
Imports |
|
Machinery and equipment |
21.8 |
Machinery and equipment |
21.5 |
|
Mineral-based products |
11.9 |
Mineral-based products |
16.0 |
|
Metals and metals products |
12.1 |
Transportation |
10.8 |
|
Food and agriculture products |
9.0 |
Metals and metals products |
10.6 |
|
Timber and wood products |
8.5 |
Food and agriculture products |
10.5 |
|
Transportation |
7.7 |
Raw materials and chemicals products |
8.0 |
|
Various industrial goods |
7.3 |
Textiles and textile products |
5.0 |
|
Raw materials and chemicals products |
5.4 |
Plastic and rubber products |
4.7 |
|
Textiles and textile products |
4.2 |
Timber and wood products |
2.5 |
|
Plastic and rubber products |
3.1 |
Various industrial goods |
2.3 |
|
Paper and paper products |
3.0 |
Paper and paper products |
2.2 |
|
Other commodities |
6.0 |
Other commodities |
5.9 |
Estonian Statistics Department
Foreign direct investment in
As of Dec 31, 2008
|
Country |
Mln EUR |
% of total investment |
|
1. |
4 651.9 |
39.9 |
|
2. |
2 610.7 |
22.4 |
|
3. |
795.9 |
6.8 |
|
4. |
431.8 |
3.7 |
|
5. |
395.6 |
3.4 |
|
6. |
392.8 |
3.4 |
|
7. |
276.1 |
2.4 |
|
8. |
273.6 |
2.3 |
|
9. |
227.8 |
2.0 |
|
10. |
208.2 |
1.8 |
|
Other countries |
1 383.5 |
11.9 |
|
Total |
11 647.9 |
100.0 |
Estonian direct investment in other countries
As of Dec 31, 2008
|
Country |
Mln EUR |
% of total investment |
|
1. |
1 523.4 |
32.0 |
|
2. |
1 385.5 |
29.1 |
|
3. |
454.9 |
9.5 |
|
4. |
257.2 |
5.4 |
|
5. |
208.1 |
4.4 |
|
6. |
180.1 |
3.8 |
|
7. |
154.1 |
3.2 |
|
8. |
89.8 |
1.9 |
|
9. |
62.7 |
1.3 |
|
10. |
50.9 |
1.1 |
|
Other countries |
400.8 |
8.3 |
|
Total |
4 767.5 |
100.0 |
Telecommunications and information technologies
|
|
12/2004 |
12/2005 |
12/2006 |
12/2007 |
12/2008 |
|
Number of (stationary) telephone lines per 100 people |
32.9 |
32.8 |
33.7 |
35.7 |
37 |
|
Ratio of digital cables (%) |
83 |
83 |
85 |
86 |
84 |
|
Users of mobile services per 100 people |
93 |
107 |
123 |
147.6 |
121.2 |
Source: Estonian Communications Department
