Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1.16 1.16 1.15 1.15 1.14 1.13
Stock Market (points) 1944.75 1857 1806 1756 1708 1616

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 4.30 2.2 0.5 0.6 0.6 0.7
GDP Annual Growth Rate (%) 12.90 5.3 6.5 7.7 3.5 2.2
Unemployment Rate (%) 6.90 7 6.5 6.4 6.4 6.1
Inflation Rate (%) 6.60 4.8 2.9 1.6 1.6 1.8
Inflation Rate Mom (%) 1.20 0.2 0.2 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -92.00 -110 -110 -110 -110 -110
Current Account to GDP (% of GDP) -0.60 0.7 -0.3 -0.3 -0.3 -0.3
Government Debt to GDP (% of GDP) 18.20 20 20 20 20 23
Government Budget (% of GDP) -4.90 -7.1 -6.3 -6.3 -6.3 -6.3
Retail Sales MoM (%) -2.80 12 13 13 13 9
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 20.00 20 20 20 20 20

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 4.30 2.2 0.5 0.6 0.6 0.7
GDP Annual Growth Rate (%) 12.90 5.3 6.5 7.7 3.5 2.2
GDP (USD Billion) 31.03 28 28 28 28 32
GDP Constant Prices (EUR Million) 6333.00 5635 6778 6237 6821 6927
Gross Fixed Capital Formation (EUR Million) 2240.80 1641 3218 2169 2413 3289
GDP per capita (USD) 20161.65 19700 19700 19700 19700 20500
GDP per capita PPP (USD) 35638.42 35000 35000 35000 35000 36500
GDP From Agriculture (EUR Million) 53.40 136 171 84.99 57.51 175
GDP From Construction (EUR Million) 415.30 409 425 298 447 434
GDP From Manufacturing (EUR Million) 856.20 773 828 854 922 847
GDP From Mining (EUR Million) 82.00 93.06 62.44 67.52 88.31 63.82
GDP From Services (EUR Million) 55.00 64.15 58.76 40.9 59.24 60.05
GDP From Transport (EUR Million) 608.10 430 544 533 655 556

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 6.90 7 6.5 6.4 6.4 6.1
Labour Costs (points) 129.56 157 123 124 135 129
Wages (EUR/Month) 1538.00 1595 1595 1536 1604 1661
Wages in Manufacturing (EUR/Month) 1430.00 1506 1506 1436 1491 1539
Minimum Wages (EUR/Month) 584.00 584 600 600 600 600
Population (Million) 1.33 1.32 1.32 1.32 1.32 1.32
Retirement Age Women 63.75 64 64 64 64 64.25
Retirement Age Men 63.75 64 64 64 64 64.25

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 6.60 4.8 2.9 1.6 1.6 1.8
Inflation Rate Mom (%) 1.20 0.2 0.2 0.2 0.2 0.2
Harmonised Consumer Prices (points) 117.26 115 114 116 119 117
Consumer Price Index CPI (points) 227.40 223 221 224 231 227
Core Consumer Prices (points) 112.10 112 112 113 114 114
Core Inflation Rate (%) 3.50 3.6 4.2 2.9 2 1.8
Producer Prices (points) 131.62 130 131 132 137 134
Producer Prices Change (%) 19.20 15.8 14.9 9.3 3.9 3
CPI Transportation (points) 201.39 202 202 203 203 203
Food Inflation (%) 3.30 2 1.8 1.8 1.8 4

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.00 0 0 0 0 0

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Million) -92.00 -110 -110 -110 -110 -110
Current Account to GDP (% of GDP) -0.60 0.7 -0.3 -0.3 -0.3 -0.3
Imports (EUR Million) 1681.00 1620 1620 1620 1620 1620
Exports (EUR Million) 1589.00 1510 1510 1510 1510 1510

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 18.20 20 20 20 20 23
Government Budget (% of GDP) -4.90 -7.1 -6.3 -6.3 -6.3 -6.3
Government Budget Value (EUR Million) -136.00 14.78 14.78 14.78 14.78 14.78
Government Spending (EUR Million) 1124.70 1059 1409 1168 1211 1440
Government Spending to GDP (% of GDP) 45.10 42.6 42.6 42.6 42.6 42.6

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 20.00 20 20 20 20 20
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 37.40 35.4 35.4 35.4 35.4 35.4
Social Security Rate For Companies (%) 33.80 33.8 33.8 33.8 33.8 33.8
Social Security Rate For Employees (%) 3.60 1.6 1.6 1.6 1.6 1.6

Business Actual Q4 Q1 Q2 Q3 2022
Industrial Production (%) 4.40 2.6 1.9 2.1 2.1 3.2
Industrial Production Mom (%) -4.10 0.6 0.6 0.6 0.6 0.6

Consumer Actual Q4 Q1 Q2 Q3 2022
Retail Sales MoM (%) -2.80 12 13 13 13 9
Retail Sales YoY (%) 9.40 4.5 4.9 2.5 1.9 4
Consumer Spending (EUR Million) 3161.00 2858 3332 3093 3404 3405
Consumer Credit (EUR Million) 10108.50 10336 10552 10911 10462 10563
Bank Lending Rate (%) 3.63 3.63 3.63 3.63 3.63 3.63
Gasoline Prices (USD/Liter) 1.70 1.62 1.53 1.46 1.38 1.31


This page has economic forecasts for Estonia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Estonia economy.