Economy of Estonia
| Economy - overview: | Estonia has a modern market-based economy with strong ties to the West. It is a WTO and EU member and pegs its currency to the euro. The economy benefits from strong electronics and telecommunications sectors and is greatly influenced by developments in Finland, Sweden, and Germany, three major trading partners. The current account deficit remains high; however, the state budget is essentially in balance, and public debt is low. |
| GDP (purchasing power parity): | $26.85 billion (2006 est.) |
| GDP (official exchange rate): | $13.89 billion (2006 est.) |
| GDP - real growth rate: | 11.4% (2006 est.) |
| GDP - per capita (PPP): | $20,300 (2006 est.) |
| GDP - composition by sector: | agriculture: 3.4% industry: 28% services: 68.6% (2006 est.) |
| Labor force: | 673,000 (2006 est.) |
| Labor force - by occupation: | agriculture: 11% industry: 20% services: 69% (1999 est.) |
| Unemployment rate: | 4.5% (2006) |
| Population below poverty line: | 5% (2003) |
| Household income or consumption by percentage share: | lowest 10%: 1.9% highest 10%: 28.5% (2000) |
| Distribution of family income - Gini index: | 33 (2003) |
| Inflation rate (consumer prices): | 4.4% (2006 est.) |
| Investment (gross fixed): | 32.4% of GDP (2006 est.) |
| Budget: | revenues: $5.994 billion expenditures: $5.718 billion; including capital expenditures of $NA (2006 est.) |
| Public debt: | 3.6% of GDP (2006 est.) |
| Agriculture - products: | potatoes, vegetables; livestock and dairy products; fish |
| Industries: | engineering, electronics, wood and wood products, textile; information technology, telecommunications |
| Industrial production growth rate: | 8% (2006 est.) |
| Electricity - production: | 9.29 billion kWh (2004) |
| Electricity - production by source: | fossil fuel: 99.8% hydro: 0.1% nuclear: 0% other: 0.2% (2001) |
| Electricity - consumption: | 6.846 billion kWh (2004) |
| Electricity - exports: | 2.141 billion kWh (2004) |
| Electricity - imports: | 347 million kWh (2004) |
| Oil - production: | 6,819 bbl/day (2004 est.) |
| Oil - consumption: | 60,000 bbl/day (2004 est.) |
| Oil - exports: | 3,958 bbl/day (2004) |
| Oil - imports: | 54,000 bbl/day (2004) |
| Oil - proved reserves: | 0 bbl |
| Natural gas - production: | 0 cu m (2004 est.) |
| Natural gas - consumption: | 1.44 billion cu m (2004 est.) |
| Natural gas - exports: | 0 cu m (2004 est.) |
| Natural gas - imports: | 1.44 billion cu m (2004 est.) |
| Current account balance: | -$1.919 billion (2006 est.) |
| Exports: | $9.68 billion f.o.b. (2006 est.) |
| Exports - commodities: | machinery and equipment 33%, wood and paper 15%, textiles 14%, food products 8%, furniture 7%, metals, chemical products (2001) |
| Exports - partners: | Finland 18.4%, Sweden 12.4%, Latvia 8.9%, Russia 8.1%, US 5.5%, Germany 5.1%, Lithuania 4.8%, Gibraltar 4.7% (2006) |
| Imports: | $12.03 billion f.o.b. (2006 est.) |
| Imports - commodities: | machinery and equipment 33.5%, chemical products 11.6%, textiles 10.3%, foodstuffs 9.4%, transportation equipment 8.9% (2001) |
| Imports - partners: | Finland 18.2%, Russia 13.1%, Germany 12.4%, Sweden 9%, Lithuania 6.4%, Latvia 5.7% (2006) |
| Reserves of foreign exchange and gold: | $2.344 billion (2006 est.) |
| Debt - external: | $13.94 billion (30 June 2006 est.) |
| Economic aid - recipient: | $108 million (2000) |
| Currency (code): | Estonian kroon (EEK) |
| Currency code: | EEK |
| Exchange rates: | krooni per US dollar - 12.473 (2006), 12.584 (2005), 12.596 (2004), 13.856 (2003), 16.612 (2002) note: the krooni is pegged to the euro |
| Fiscal year: | calendar year |