Markets Actual Q1 Q2 Q3 Q4 2021
Currency 1.08 1.1 1.1 1.1 1.09 1.09
Stock Market (points) 1365.65 1333 1327 1322 1316 1304

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 1.00 0.7 0.8 0.7 0.8 0.8
GDP Annual Growth Rate (%) 4.20 3.5 3.1 3.5 2.8 2.5
Unemployment Rate (%) 4.10 4.9 4.2 4.3 4.5 5.1
Inflation Rate (%) 1.60 2.3 2.2 2.1 2 2.1
Inflation Rate Mom (%) -0.40 0.3 0.3 -0.1 -0.3 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -255.10 -160 -190 -160 -130 -110
Current Account to GDP (%) 1.70 1.5 1.5 1.5 1.5 1.2
Government Debt to GDP (%) 8.40 8.3 8.3 8.3 8.3 8.6
Government Budget (% of GDP) -0.60 -0.3 -0.3 -0.3 -0.3 -0.2
Retail Sales MoM (%) 12.00 12 -2 -5.5 17 15
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 20.00 20 20 20 20 20

GDP Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 1.00 0.7 0.8 0.7 0.8 0.8
GDP Annual Growth Rate (%) 4.20 3.5 3.1 3.5 2.8 2.5
GDP (USD Billion) 30.28 33.3 33.3 33.3 33.3 35.5
GDP Constant Prices (EUR Million) 6111.54 5877 6317 6218 6283 6440
Gross Fixed Capital Formation (EUR Million) 1619.82 1446 1741 1648 1665 1707
GDP per capita (USD) 19948.90 22000 22000 22000 22000 22700
GDP per capita PPP (USD) 30990.51 32200 32200 32200 32200 33000
GDP From Agriculture (EUR Million) 163.67 123 83.44 167 168 172
GDP From Construction (EUR Million) 441.41 323 440 449 454 465
GDP From Manufacturing (EUR Million) 841.79 884 919 857 865 887
GDP From Mining (EUR Million) 71.68 103 89.79 72.94 73.69 75.53
GDP From Services (EUR Million) 93.33 78.56 89.2 94.96 95.94 98.34
GDP From Transport (EUR Million) 530.90 487 526 540 546 559

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 4.10 4.9 4.2 4.3 4.5 5.1
Labour Costs (points) 118.29 122 131 123 123 130
Wages (EUR/Month) 1397.00 1363 1480 1457 1456 1531
Wages in Manufacturing (EUR/Month) 1345.00 1330 1412 1402 1401 1474
Minimum Wages (EUR/Month) 540.00 590 590 590 590 630
Population (Million) 1.32 1.32 1.32 1.32 1.32 1.32
Retirement Age Women 63.50 64 64 64 64 64
Retirement Age Men 63.50 64 64 64 64 64

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 1.60 2.3 2.2 2.1 2 2.1
Inflation Rate Mom (%) -0.40 0.3 0.3 -0.1 -0.3 0.2
Consumer Price Index CPI (points) 213.30 216 219 220 219 223
Harmonised Consumer Prices (points) 110.59 111 114 114 113 115
Core Consumer Prices (points) 107.97 110 114 115 114 119
Producer Prices (points) 111.59 115 115 115 114 117
Producer Prices Change (%) -1.20 1.5 1.8 2 2.2 2.2
CPI Transportation (points) 193.18 192 195 197 199 203
Food Inflation (%) 2.80 4.5 4.3 4.1 3.7 5

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

Trade Actual Q1 Q2 Q3 Q4 2021
Balance of Trade (EUR Million) -255.10 -160 -190 -160 -130 -110
Current Account to GDP (%) 1.70 1.5 1.5 1.5 1.5 1.2
Imports (EUR Million) 1334.00 1420 1590 1570 1410 1620
Exports (EUR Million) 1079.00 1260 1400 1410 1280 1510

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 8.40 8.3 8.3 8.3 8.3 8.6
Government Budget (% of GDP) -0.60 -0.3 -0.3 -0.3 -0.3 -0.2
Government Budget Value (EUR Million) 54.63 15.93 15.93 15.93 14.81 14.78
Government Spending (EUR Million) 1027.50 1067 1085 1045 1056 1083
Government Spending to GDP (%) 39.50 39.9 39.9 39.9 39.9 39.7

Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2021
Industrial Production (%) -10.00 2.5 2.5 2.9 3.2 3.2
Industrial Production Mom (%) -2.40 0.7 0.7 0.7 0.7 0.6

Consumer Actual Q1 Q2 Q3 Q4 2021
Retail Sales MoM (%) 12.00 12 -2 -5.5 17 15
Retail Sales YoY (%) 3.80 1.5 2.2 1.5 2.7 4
Consumer Spending (EUR Million) 3048.10 3003 3082 3101 3133 3212
Consumer Credit (EUR Million) 9335.70 8997 9176 9354 9551 9790
Bank Lending Rate (%) 4.20 3.79 3.79 3.79 3.79 3.79
Gasoline Prices (USD/Liter) 1.54 1.37 1.41 1.44 1.49 1.49


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.