Markets Actual Q1 Q2 Q3 Q4 2022
Currency 1.19 1.19 1.19 1.18 1.18 1.17
Stock Market (points) 1464.34 1449 1436 1424 1411 1387

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 2.10 -0.1 0.9 4.3 0.8 0.7
GDP Annual Growth Rate (%) -1.20 -3 5.8 2.5 4.5 4
Unemployment Rate (%) 7.40 8.2 7 7 6.5 6.5
Inflation Rate (%) 0.60 0.3 1.3 1.5 2 2.2
Inflation Rate Mom (%) 0.90 -0.3 -0.3 -0.3 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -131.00 -130 -130 -130 -110 -110
Current Account to GDP (%) 2.20 1 2 2 2 1.4
Government Debt to GDP (%) 8.40 20 20 20 20 23
Government Budget (% of GDP) -0.30 -4.4 -4.4 -4.4 -4.4 -3.6
Retail Sales MoM (%) -16.70 15 -1.5 -5 12 9
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 2022
GDP Growth Rate (%) 2.10 -0.1 0.9 4.3 0.8 0.7
GDP Annual Growth Rate (%) -1.20 -3 5.8 2.5 4.5 4
GDP (USD Billion) 31.39 28 28 28 28 32
GDP Constant Prices (EUR Million) 6552.70 5554 6041 6297 6420 6677
Gross Fixed Capital Formation (EUR Million) 3018.30 1280 1571 1849 1885 1960
GDP per capita (USD) 20741.90 19700 19700 19700 19700 20500
GDP per capita PPP (USD) 36710.40 35000 35000 35000 35000 36500
GDP From Agriculture (EUR Million) 107.50 120 55.47 178 181 188
GDP From Construction (EUR Million) 389.00 357 400 395 403 419
GDP From Manufacturing (EUR Million) 800.30 822 778 823 839 872
GDP From Mining (EUR Million) 66.00 75.5 80.25 69.47 70.83 73.66
GDP From Services (EUR Million) 55.90 62.91 41.48 76.76 78.25 81.38
GDP From Transport (EUR Million) 565.30 455 504 470 479 498

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 7.40 8.2 7 7 6.5 6.5
Labour Costs (points) 117.95 150 122 130 157 157
Wages (EUR/Month) 1515.00 1518 1535 1464 1595 1595
Wages in Manufacturing (EUR/Month) 1404.00 1433 1442 1399 1506 1506
Minimum Wages (EUR/Month) 584.00 584 584 584 584 600
Population (Million) 1.33 1.31 1.31 1.31 1.32 1.32
Retirement Age Women 63.75 63.75 64 64 64 64.25
Retirement Age Men 63.75 63.75 64 64 64 64.25

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 0.60 0.3 1.3 1.5 2 2.2
Inflation Rate Mom (%) 0.90 -0.3 -0.3 -0.3 0.2 0.2
Harmonised Consumer Prices (points) 111.12 110 111 112 112 114
Consumer Price Index CPI (points) 215.74 214 215 217 217 222
Core Consumer Prices (points) 107.78 116 113 113 122 122
Producer Prices (points) 113.32 110 112 112 120 119
Producer Prices Change (%) 2.30 0.5 1 1 2.2 3.5
CPI Transportation (points) 189.57 188 180 181 213 218
Food Inflation (%) -0.70 3.7 3.7 3.7 5 5

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

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (EUR Million) -131.00 -130 -130 -130 -110 -110
Current Account to GDP (%) 2.20 1 2 2 2 1.4
Imports (EUR Million) 1475.00 1410 1410 1410 1620 1620
Exports (EUR Million) 1344.00 1280 1280 1280 1510 1510

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 8.40 20 20 20 20 23
Government Budget (% of GDP) -0.30 -4.4 -4.4 -4.4 -4.4 -3.6
Government Budget Value (EUR Million) -79.20 14.81 14.81 14.81 14.78 14.78
Government Spending (EUR Million) 1374.00 1014 1174 1110 1131 1177
Government Spending to GDP (%) 39.00 42.6 42.6 42.6 42.6 42.6

Taxes Actual Q1 Q2 Q3 Q4 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 37.4 37.4 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 3.6 3.6 1.6 1.6

Business Actual Q1 Q2 Q3 Q4 2022
Industrial Production (%) 0.80 4 5.8 5.8 5.2 5
Industrial Production Mom (%) 1.60 0.7 0.7 0.7 0.6 0.6

Consumer Actual Q1 Q2 Q3 Q4 2022
Retail Sales MoM (%) -16.70 15 -1.5 -5 12 9
Retail Sales YoY (%) 6.90 2.8 2.9 2.7 2.5 4
Consumer Spending (EUR Million) 3181.10 2879 2988 3180 3242 3372
Consumer Credit (EUR Million) 9833.70 9140 10036 9860 10257 10667
Bank Lending Rate (%) 4.01 3.84 3.84 3.84 3.84 3.84
Gasoline Prices (USD/Liter) 1.63 1.47 1.4 1.33 1.26 1.2


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.