Economy of Estonia

Mother Earth Travel > Country Index > Estonia > Map Economy History

Economy - overview: In 2000, Estonia rebounded from the Russian financial crisis by scaling back its budget and reorienting trade away from Russian markets into EU member states. After GDP shrank 1.1% in 1999, the economy made a strong recovery in 2000, with growth estimated at 6.4% - the highest in Central and Eastern Europe. Estonia joined the World Trade Organization in November 1999 - the second Baltic state to join - and continues its EU accession talks. For 2001, Estonians predict GDP to grow around 6%, inflation of between 4.2%-5.3%, and a balanced budget. Substantial gains were made in completing privatization of Estonia's few remaining large, state-owned companies in 2000, and this momentum is expected to continue in 2001. Estonia hopes to join the EU during the next round of enlargement tentatively set for 2004.

GDP: purchasing power parity - $14.7 billion (2000 est.)
GDP - real growth rate: -0.5% (1999 est.), 6.4% (2000 est.)
GDP - per capita: purchasing power parity - $10,000 (2000 est.)
GDP - composition by sector:
agriculture: 3.6%
industry: 30.7%
services: 65.7% (1999)
Household income or consumption by percentage share:
lowest 10%: 3.2%
highest 10%: 28.5% (1996)
Inflation rate (consumer prices): 3.7% (1999 est.)
Labor force: 785,500 (1999 est.)
Labor force - by occupation: industry 20%, agriculture and forestry 11%, services 69% (1999 est.)
Unemployment rate: 11.7% (1999 est.)
Budget:
revenues: $1.37 billion
expenditures: $1.37 billion (1997 est.)
Industries: oil shale, shipbuilding, phosphates, electric motors, excavators, cement, furniture, clothing, textiles, paper, shoes, apparel
Industrial production growth rate: 3% (1996 est.), 5% (2000 est.)
Electricity - production: 7.782 billion kWh (1999)
Electricity - production by source:
fossil fuel:  99.72%
hydro:  0.09%
nuclear:  0%
other:  0.19% (1999)
Agriculture - products: potatoes, fruits, vegetables; livestock and dairy products; fish
Exports: $2.5 billion (f.o.b., 1999), $3.1 billion (f.o.b., 2000)
Exports - commodities: machinery and appliances 19%, wood products 15%, textiles 13%, food products 12%, metals 10%, chemical products 8% (1999)
Exports - partners: Sweden 19.3%, Finland 18.8%, Russia 8.8%, Latvia 8.8%, Germany 7.3%, United States 2.5% (1999)
Imports: $3.4 billion (f.o.b., 1999), $4 billion (f.o.b., 2000)
Imports - commodities: machinery and appliances 26%, foodstuffs 15%, chemical products 10%, metal products 9%, textiles 8% (1999)
Imports - partners: Finland 23%, Russia 13.2%, Sweden 10%, Germany 9.1%, United States 4.7 (1999)
Debt - external: $1.6 billion (2000 est.)
Economic aid - recipient: $137.3 million (1995)
Currency: Estonian kroon (EEK)

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Estonia > Map Economy History