Economy Of Estonia
|
Economy overview
|
Estonia, as a new member of the World Trade Organization, is steadily moving toward a modern market economy with increasing ties to the West, including the pegging of its currency to the euro. The economy benefits from strong electronics and telecommunications sectors. Estonia has been invited to join the European Union and will do so in May 2004. The economy is greatly influenced by developments in Finland, Sweden, Russia, and Germany, four major trading partners. The high current account deficit remains a concern. However, the state budget enjoyed a surplus of $130 million in 2003.
|
|
GDP
|
purchasing power parity - $17.35 billion (2004 est.)
|
|
GDP - real growth rate
|
4.7% (2004 est.)
|
|
GDP - per capita
|
purchasing power parity - $12,300 (2004 est.)
|
|
GDP - composition by sector
|
agriculture: 4.9%
industry: 30.3%
services: 64.8% (2004 est.)
|
|
Investment gross fixed
|
30.2% of GDP (2004 est.)
|
|
Population below poverty line
|
NA (2000)
|
|
Household income or consumption by percentage share
|
lowest 10%: 3%
highest 10%: 29.8% (1998)
|
|
Distribution of family income - Gini index
|
37 (1999)
|
|
Inflation rate consumer prices
|
1.3% (2004 est.)
|
|
Labor force
|
654,000 (2004 est.)
|
|
Labor force by occupation
|
agriculture 11%, industry 20%, services 69% (1999 est.)
|
|
Unemployment rate
|
10.1% (2004 est.)
|
|
Budget
|
revenues: $3.806 billion
expenditures: $3.648 billion, including capital expenditures of NA (2004 est.)
|
|
Public debt
|
7.4% of GDP (2004 est.)
|
|
Agriculture products
|
potatoes, vegetables; livestock and dairy products; fish
|
|
Industries
|
engineering, electronics, wood and wood products, textile; information technology, telecommunications
|
|
Industrial production growth rate
|
5% (2000 est.)
|
|
Electricity production
|
7.937 billion kWh (2001)
|
|
Electricity production by source
|
fossil fuel: 99.8%
hydro: 0.1%
other: 0.2% (2001)
nuclear: 0%
|
|
Electricity consumption
|
6.192 billion kWh (2001)
|
|
Electricity exports
|
1.19 billion kWh (2001)
|
|
Electricity imports
|
0 kWh (2001)
|
|
Oil production
|
5,100 bbl/day (2001 est.)
|
|
Oil consumption
|
24,000 bbl/day (2001 est.)
|
|
Oil exports
|
NA (2001)
|
|
Oil imports
|
NA (2001)
|
|
Oil proved reserves
|
|
|
Natural gas production
|
0 cu m (2001 est.)
|
|
Natural gas consumption
|
1.27 billion cu m (2001 est.)
|
|
Natural gas exports
|
0 cu m (2001 est.)
|
|
Natural gas imports
|
1.27 billion cu m (2001 est.)
|
|
Natural gas proved reserves
|
|
|
Current account balance
|
$-1.15 billion (2004 est.)
|
|
Exports
|
$4.075 billion f.o.b. (2004 est.)
|
|
Exports commodities
|
machinery and equipment 33%, wood and paper 15%, textiles 14%, food products 8%, furniture 7%, metals, chemical products (2001)
|
|
Exports partners
|
Finland 21.9%, Sweden 12.5%, Russia 11.4%, Germany 8.4%, Latvia 7.4%, Lithuania 4% (2003)
|
|
Imports
|
$5.535 billion f.o.b. (2003 est.)
|
|
Imports commodities
|
machinery and equipment 33.5%, chemical products 11.6%, textiles 10.3%, foodstuffs 9.4%, transportation equipment 8.9% (2001)
|
|
Imports partners
|
Finland 15.9%, Germany 11.1%, Russia 10.2%, Sweden 7.7%, Ukraine 4.3%, China 4.2%, Japan 4.1% (2003)
|
|
Reserves of foreign exchange gold
|
$1.377 billion (2004 est.)
|
|
Debt external
|
$7.002 billion (2004 est.)
|
|
Economic aid recipient
|
$108 million (2000)
|
|
Currency
|
Estonian kroon (EEK)
|
|
Currency code
|
EEK
|
|
Exchange rates
|
krooni per US dollar - 13.8564 (2003), 16.6118 (2002), 17.4781 (2001), 16.9686 (2000), 14.6776 (1999)
|
|
Fiscal year
|
calendar year
|
Applied Language Solutions offer English to Estonian Translation , English to Russian Translation , English to Ukrainian Translation , English to Finnish Translation .
This information was reproduced in part from the CIA World Fact book.
Flags
If you would like to use this flag of Estonia or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Map
If you would like to use this map of Estonia or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Country Information
If you would like to use this information for Estonia or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.