Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.19 1.19 1.18 1.18 1.18 1.17
Stock Market (points) 1660.93 1638 1624 1610 1596 1568

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 4.80 -0.3 4.3 2.2 0.5 0.7
GDP Annual Growth Rate (%) 5.40 2.8 5.2 5.3 6.5 2.2
Unemployment Rate (%) 7.10 8.5 7.7 7 6.5 6.1
Inflation Rate (%) 3.60 2.5 2 2.1 1.9 1.8
Inflation Rate Mom (%) 0.90 -0.3 -0.3 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -78.03 -130 -130 -110 -110 -110
Current Account to GDP (% of GDP) 2.20 0.7 0.7 0.7 -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 -7.1 -7.1 -6.3 -6.3
Retail Sales MoM (%) -1.00 -1.5 -5 12 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 Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 4.80 -0.3 4.3 2.2 0.5 0.7
GDP Annual Growth Rate (%) 5.40 2.8 5.2 5.3 6.5 2.2
GDP (USD Billion) 31.39 28 28 28 28 32
GDP Constant Prices (EUR Million) 6008.50 5870 6463 6900 6979 7052
Gross Fixed Capital Formation (EUR Million) 2167.30 1527 1897 3178 3214 3248
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) 79.30 53.89 182 113 114 116
GDP From Construction (EUR Million) 286.40 389 406 410 414 419
GDP From Manufacturing (EUR Million) 839.60 756 844 843 852 861
GDP From Mining (EUR Million) 74.30 77.97 71.3 69.5 70.29 71.03
GDP From Services (EUR Million) 39.20 40.3 78.78 58.86 59.53 60.16
GDP From Transport (EUR Million) 528.30 490 482 595 602 608

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 7.10 8.5 7.7 7 6.5 6.1
Labour Costs (points) 118.57 150 122 157 157 157
Wages (EUR/Month) 1473.00 1518 1535 1595 1595 1595
Wages in Manufacturing (EUR/Month) 1377.00 1433 1442 1506 1506 1506
Minimum Wages (EUR/Month) 584.00 584 584 584 600 600
Population (Million) 1.33 1.31 1.31 1.32 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 Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 3.60 2.5 2 2.1 1.9 1.8
Inflation Rate Mom (%) 0.90 -0.3 -0.3 0.2 0.2 0.2
Harmonised Consumer Prices (points) 112.34 112 112 112 113 114
Consumer Price Index CPI (points) 2018.24 218 218 217 219 221
Core Consumer Prices (points) 107.78 116 113 122 122 122
Producer Prices (points) 116.17 117 118 119 121 124
Producer Prices Change (%) 6.80 5.8 6.5 6.3 5.5 3.5
CPI Transportation (points) 194.47 182 182 214 198 217
Food Inflation (%) 0.70 1.7 2.7 2 1.8 4

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

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) -78.03 -130 -130 -110 -110 -110
Current Account to GDP (% of GDP) 2.20 0.7 0.7 0.7 -0.3 -0.3
Imports (EUR Million) 1642.60 1410 1410 1620 1620 1620
Exports (EUR Million) 1564.57 1280 1280 1510 1510 1510

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 18.20 20 20 20 20 23
Government Budget (% of GDP) -4.90 -7.1 -7.1 -7.1 -6.3 -6.3
Government Budget Value (EUR Million) -368.10 14.81 14.81 14.78 14.78 14.78
Government Spending (EUR Million) 1122.10 1141 1139 1447 1463 1479
Government Spending to GDP (% of GDP) 45.10 42.6 42.6 42.6 42.6 42.6

Taxes Actual Q2 Q3 Q4 Q1 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 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 3.6 1.6 1.6 1.6

Business Actual Q2 Q3 Q4 Q1 2022
Industrial Production (%) 16.90 5.8 3.1 2.6 1.9 3.2
Industrial Production Mom (%) 4.00 0.7 0.7 0.6 0.6 0.6

Consumer Actual Q2 Q3 Q4 Q1 2022
Retail Sales MoM (%) -1.00 -1.5 -5 12 13 9
Retail Sales YoY (%) 23.00 4.2 4.8 4.5 4.9 4
Consumer Spending (EUR Million) 2901.80 2903 3264 3350 3388 3423
Consumer Credit (EUR Million) 9966.20 9752 10120 10336 10552 10563
Bank Lending Rate (%) 3.64 3.48 3.48 3.48 3.48 3.48
Gasoline Prices (USD/Liter) 1.71 1.47 1.4 1.29 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.