Markets Actual Q2 Q3 Q4 Q1 2023
Currency 1.04 1.04 1.03 1.02 1.01 0.99
Stock Market (points) 1762.51 1676 1619 1563 1510 1408

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.10 1.4 -1.5 0.4 0.5 1
GDP Annual Growth Rate (%) 4.30 0.7 -0.1 -1.5 0.2 3.8
Unemployment Rate (%) 5.50 5.2 5.3 5.3 5 5
Inflation Rate (%) 20.00 18.5 15.3 12 8.7 3
Inflation Rate Mom (%) 1.90 0.8 0.4 0.1 0.1 0.2
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75
Balance of Trade (EUR Million) -542.00 -110 -110 -110 -110 -110
Current Account to GDP (% of GDP) -0.60 -0.3 -0.3 -0.3 -0.3 -0.6
Government Debt to GDP (% of GDP) 18.10 21 21 21 23.7 23.7
Government Budget (% of GDP) -2.40 -4.3 -4.3 -4.3 -3.5 -3.5
Retail Sales MoM (%) -5.60 3 1.2 1 0.7 2
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 20.00 20 20 20 20 20

GDP Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.10 1.4 -1.5 0.4 0.5 1
GDP Annual Growth Rate (%) 4.30 0.7 -0.1 -1.5 0.2 3.8
GDP (USD Billion) 30.65 28 28 32 32 32
GDP Constant Prices (EUR Million) 6088.40 6377 6522 6888 6101 7150
Gross Fixed Capital Formation (EUR Million) 1331.50 2256 1739 1855 1334 1926
GDP per capita (USD) 19735.70 19700 19700 20500 20500 20500
GDP per capita PPP (USD) 35638.42 35000 35000 36500 36500 36500
GDP From Agriculture (EUR Million) 48.20 53.77 187 125 48.3 129
GDP From Construction (EUR Million) 274.00 418 485 428 275 445
GDP From Manufacturing (EUR Million) 867.70 862 832 866 869 899
GDP From Mining (EUR Million) 53.90 82.57 72.93 62.15 54.01 64.52
GDP From Services (EUR Million) 69.60 55.39 85.61 76.24 69.74 79.14
GDP From Transport (EUR Million) 563.40 612 563 613 565 636

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 5.50 5.2 5.3 5.3 5 5
Labour Costs (points) 121.73 123 135 128 127 133
Wages (EUR/Month) 1593.00 1602 1619 1693 1661 1781
Wages in Manufacturing (EUR/Month) 1552.00 1489 1525 1554 1618 1634
Minimum Wages (EUR/Month) 654.00 600 600 600 600 600
Population (Million) 1.33 1.32 1.32 1.32 1.32 1.32
Retirement Age Women 63.75 64 64 64.25 64.25 64.25
Retirement Age Men 63.75 64 64 64.25 64.25 64.25

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 20.00 18.5 15.3 12 8.7 3
Inflation Rate Mom (%) 1.90 0.8 0.4 0.1 0.1 0.2
Consumer Price Index CPI (points) 261.80 261 262 267 270 275
Harmonised Consumer Prices (points) 134.94 135 135 138 138 142
Core Consumer Prices (points) 118.76 113 114 116 118 117
Core Inflation Rate (%) 9.00 2.9 2 1.8 1.8 1
Producer Prices (points) 157.87 142 146 153 163 161
Producer Prices Change (%) 33.70 17.3 11 9.5 9.5 5.1
Food Inflation (%) 17.00 1.8 1.8 4 4 4
CPI Transportation (points) 246.99 249 250 250 250 251

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (EUR Million) -542.00 -110 -110 -110 -110 -110
Current Account to GDP (% of GDP) -0.60 -0.3 -0.3 -0.3 -0.3 -0.6
Imports (EUR Million) 2140.00 1620 1620 1620 1620 1620
Exports (EUR Million) 1598.00 1510 1510 1510 1510 1510

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 18.10 21 21 21 23.7 23.7
Government Budget (% of GDP) -2.40 -4.3 -4.3 -4.3 -3.5 -3.5
Government Budget Value (EUR Million) -31.50 14.78 14.78 14.78 14.78 14.78
Government Spending (EUR Million) 1084.60 1133 1107 1350 1087 1402
Government Spending to GDP (% of GDP) 45.10 42.6 42.6 42.6 42.6 42.6

Taxes Actual Q2 Q3 Q4 Q1 2023
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 Q2 Q3 Q4 Q1 2023
Industrial Production (%) 3.80 2.1 2.1 3.2 3.2 2.8
Industrial Production Mom (%) 0.80 0.6 0.6 0.6 0.6 0.6

Consumer Actual Q2 Q3 Q4 Q1 2023
Retail Sales MoM (%) -5.60 3 1.2 1 0.7 2
Retail Sales YoY (%) 12.30 2.5 1.9 4 4 4
Consumer Spending (EUR Million) 3132.80 3183 3319 3319 3139 3445
Consumer Credit (EUR Million) 10682.50 10202 10088 10254 10621 10643
Gasoline Prices (USD/Liter) 1.99 2.06 2.14 2.21 2.29 2.29
Bank Lending Rate (%) 3.35 3.35 4.1 4.6 4.85 4.85


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Estonia Forecast - was last updated on Wednesday, June 29, 2022.