Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.18 1.17 1.16 1.16 1.16 1.15
Stock Market (points) 1200.43 1193 1182 1172 1162 1142

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -3.70 5 3 2.5 1.5 1
GDP Annual Growth Rate (%) -0.70 -11 -8 -3 12.8 6.5
Unemployment Rate (%) 5.00 6.9 7.5 8.2 7 6.5
Inflation Rate (%) -0.90 0.2 1 1.2 1.5 2
Inflation Rate Mom (%) 0.00 -0.1 -0.3 -0.3 -0.3 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -10.57 -160 -130 -130 -130 -110
Current Account to GDP (%) 2.20 1 1 1 2 2
Government Debt to GDP (%) 8.40 9.5 9.5 10.3 10.3 10.3
Government Budget (% of GDP) -0.30 -3.8 -3.8 -4.4 -4.4 -4.4
Retail Sales MoM (%) 7.10 -5.5 17 15 15 15
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 20.00 20 20 20 20 20

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -3.70 5 3 2.5 1.5 1
GDP Annual Growth Rate (%) -0.70 -11 -8 -3 12.8 6.5
GDP (USD Billion) 31.39 25 25 28 28 28
GDP Constant Prices (EUR Million) 5726.05 5775 5978 5554 6459 6367
Gross Fixed Capital Formation (EUR Million) 1319.81 1524 1724 1280 1489 1836
GDP per capita (USD) 20741.90 17500 17500 19700 19700 19700
GDP per capita PPP (USD) 36710.40 32500 32500 35000 35000 35000
GDP From Agriculture (EUR Million) 124.08 178 158 120 140 168
GDP From Construction (EUR Million) 368.07 417 369 357 415 393
GDP From Manufacturing (EUR Million) 847.83 794 731 822 956 778
GDP From Mining (EUR Million) 77.84 67.74 68.01 75.5 87.8 72.43
GDP From Services (EUR Million) 64.86 88.19 77.99 62.91 73.16 83.06
GDP From Transport (EUR Million) 469.35 502 487 455 529 519

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 5.00 6.9 7.5 8.2 7 6.5
Labour Costs (points) 124.23 123 122 130 130 128
Wages (EUR/Month) 1404.00 1455 1535 1464 1464 1615
Wages in Manufacturing (EUR/Month) 1342.00 1401 1442 1399 1399 1517
Minimum Wages (EUR/Month) 540.00 590 590 630 630 630
Population (Million) 1.33 1.32 1.32 1.31 1.31 1.32
Retirement Age Women 63.50 64 64 64 64 64
Retirement Age Men 63.50 64 64 64 64 64

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.90 0.2 1 1.2 1.5 2
Inflation Rate Mom (%) 0.00 -0.1 -0.3 -0.3 -0.3 0.2
Harmonised Consumer Prices (points) 109.76 112 112 111 111 114
Consumer Price Index CPI (points) 212.50 216 216 216 216 221
Core Consumer Prices (points) 107.32 114 113 113 112 119
Producer Prices (points) 110.74 111 117 110 110 120
Producer Prices Change (%) -2.30 -1.5 -1 1 1.5 2.2
CPI Transportation (points) 178.86 193 197 190 180 201
Food Inflation (%) 2.40 4.1 3.7 3.7 3.7 5

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) -10.57 -160 -130 -130 -130 -110
Current Account to GDP (%) 2.20 1 1 1 2 2
Imports (EUR Million) 1178.45 1570 1410 1410 1410 1620
Exports (EUR Million) 1167.88 1410 1280 1280 1280 1510

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 8.40 9.5 9.5 10.3 10.3 10.3
Government Budget (% of GDP) -0.30 -3.8 -3.8 -4.4 -4.4 -4.4
Government Budget Value (EUR Million) 67.58 15.93 14.81 14.81 14.81 14.78
Government Spending (EUR Million) 1045.77 971 1210 1014 1180 1289
Government Spending to GDP (%) 39.00 46.8 46.8 42.6 42.6 42.6

Taxes Actual Q3 Q4 Q1 Q2 2021
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 37.4 37.4 37.4 37.4 37.4
Social Security Rate For Companies (%) 33.80 33.8 33.8 33.8 33.8 33.8
Social Security Rate For Employees (%) 3.60 3.6 3.6 3.6 3.6 3.6

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) -5.50 -5 -3.2 4 5.8 7
Industrial Production Mom (%) 7.70 0.7 0.7 0.7 0.7 0.6

Consumer Actual Q3 Q4 Q1 Q2 2021
Retail Sales MoM (%) 7.10 -5.5 17 15 15 15
Retail Sales YoY (%) 7.30 3 3.5 2.8 2.9 2.5
Consumer Spending (EUR Million) 2967.90 2928 2944 2879 3348 3135
Consumer Credit (EUR Million) 9486.20 8688 8589 9140 10661 9147
Bank Lending Rate (%) 3.55 3.83 3.83 3.83 3.83 3.83
Gasoline Prices (USD/Liter) 1.48 1.28 1.22 1.16 1.1 1.05


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.