Estonia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 1.90 0.5 0.4 0.6 0.6 0.8 percent [+]
Unemployment Rate 6.60 6.9 6.3 6.7 6.4 5.5 percent [+]
Inflation Rate 3.40 2.5 2.7 2.9 2.8 2.3 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -430.33 -228 -230 -230 -230 -230 EUR Million [+]
Government Debt to GDP 9.70 9.5 9.5 10.83 9.2 8 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 1.08 1.04 1.03 1.02 1.01 0.84 [+]
Stock Market 1127.74 1100 1080 1070 1050 886 points [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 1.90 0.5 0.4 0.6 0.6 0.8 percent [+]
GDP Annual Growth Rate 2.70 1.5 1.7 1.9 2.1 2.4 percent [+]
GDP 22.46 22.95 23.11 22.35 26.65 31.14 USD Billion [+]
GDP Constant Prices 4693.15 4452 4693 4452 4693 4691 EUR Million [+]
Gross Fixed Capital Formation 1198.08 1012 1197 1013 1197 1193 EUR Million [+]
GDP per capita 17638.49 18145 18100 18055 18011 20344 USD [+]
GDP per capita PPP 26742.99 27468 27444 27421 27397 30903 USD [+]
GDP From Agriculture 158.48 143 129 141 152 144 EUR Million [+]
GDP From Construction 232.56 169 229 243 232 227 EUR Million [+]
GDP From Manufacturing 670.67 636 671 636 671 670 EUR Million [+]
GDP From Mining 49.11 45.45 45.68 48.97 46.85 47.08 EUR Million [+]
GDP From Services 57.37 47.78 50.58 58.08 55.72 54.83 EUR Million [+]
GDP From Transport 277.99 290 294 293 284 288 EUR Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 6.60 6.9 6.3 6.7 6.4 5.5 percent [+]
Employed Persons 638.20 637 652 649 639 642 Thousand [+]
Unemployed Persons 32.13 33.18 34.26 33.74 33.4 33.47 Thousand [+]
Long Term Unemployment Rate 2.50 1.81 1.99 1.86 1.92 1.92 percent [+]
Youth Unemployment Rate 13.50 12.78 13.23 13.04 13.11 13.09 percent [+]
Labour Costs 122.25 125 125 123 123 124 Index Points [+]
Job Vacancies 5.08 5.16 5 5.01 5.02 5.02 Thousand [+]
Wages 1181.50 1134 1190 1142 1193 1175 EUR/Month [+]
Wages in Manufacturing 1141.44 1112 1141 1112 1141 1141 EUR/Month [+]
Wage Growth 7.00 6.12 5.7 5.6 5.26 5.84 percent [+]
Minimum Wages 470.00 430 430 460 450 500 EUR/Month [+]
Population 1.32 1.31 1.31 1.32 1.32 1.34 Million [+]
Retirement Age Women 62.70 62.63 62.63 62.63 62.63 63.21 [+]
Retirement Age Men 63.00 63 63 63 63 63 [+]
Employment Change -1.00 0.41 -0.24 -0.1 0.11 0 percent [+]
Employment Rate 66.50 64.62 66.17 65.83 64.73 65.01 percent [+]
Full Time Employment 563.70 540 554 556 544 546 Thousand [+]
Part Time Employment 56.70 58.76 59.48 58.22 57.46 57.99 Thousand [+]
Productivity 112.80 104 108 111 113 113 Index Points [+]
Labor Force Participation Rate 69.60 69.38 71.25 71.31 69.81 70.25 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 3.40 2.5 2.7 2.9 2.8 2.3 percent [+]
Inflation Rate Mom 1.30 0.5 0.5 0.96 0.8 0.6 percent [+]
Harmonised Consumer Prices 103.08 104 106 107 107 108 Index Points [+]
Consumer Price Index CPI 200.21 202 204 205 207 222 Index Points [+]
Core Consumer Prices 100.81 101 100 100 100 100 Index Points [+]
Core Inflation Rate 1.70 1.81 2.02 2.18 2.3 2.58 percent [+]
GDP Deflator 119.06 119 120 121 121 127 Index Points [+]
Producer Prices 109.36 110 112 113 115 126 Index Points [+]
Producer Prices Change 3.90 2.6 2.5 2.7 2.8 2.4 percent [+]
Export Prices 327.69 329 330 330 330 330 Index Points [+]
Import Prices 142.13 143 143 143 143 143 Index Points [+]
Cpi Transportation 186.09 188 189 189 190 189 Index Points [+]
Food Inflation 4.10 4.67 5.37 5.66 5.76 5.82 percent [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M1 11065.00 11211 11428 11603 11775 13246 EUR Million [+]
Money Supply M2 13820.00 14007 14319 14584 14851 17556 EUR Million [+]
Banks Balance Sheet 24583.50 24887 25345 25771 26166 29218 EUR Million [+]
Loans to Private Sector 7587.90 7606 7669 7725 7774 8058 EUR Million [+]
Central Bank Balance Sheet 6747158.90 6842880 7013356 7315824 7455079 9388190 EUR Thousand [+]
Private Debt to GDP 194.69 198 198 199 199 201 percent [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -430.33 -228 -230 -230 -230 -230 EUR Million [+]
Exports 936.76 1006 989 1004 999 1001 EUR Million [+]
Imports 1367.09 1264 1255 1270 1263 1263 EUR Million [+]
Current Account 209.40 103 172 265 234 227 EUR Million [+]
Current Account to GDP 1.90 1 1 0 1 0.4 percent [+]
External Debt 19039.50 18993 19073 19005 18940 18746 EUR Million [+]
Capital Flows 309.40 94 253 272 269 239 EUR Million [+]
Foreign Direct Investment 391.70 168 161 93.78 151 147 EUR Million [+]
Remittances 91.20 62.21 61.3 66.58 86.7 83 EUR Million [+]
Gold Reserves 0.25 0.25 0.25 0.25 0.25 0.25 Tonnes [+]
Terrorism Index 1.10 0.25 0.33 0.41 0.49 0.52 [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 9.70 9.5 9.5 10.83 9.2 8 percent [+]
Government Budget 0.40 -0.2 -0.2 0.21 -0.2 0.5 percent of GDP [+]
Government Budget Value -78.23 -8.9 -3.4 -9.63 -9.02 -8.79 EUR Million [+]
Government Spending 938.12 814 938 814 938 938 EUR Million [+]
Government Spending to GDP 39.50 39.78 39.63 39.49 39.34 38.62 percent [+]
Government Revenues 611.17 589 620 601 610 607 EUR Million [+]
Fiscal Expenditure 689.40 618 649 645 646 646 EUR Million [+]
Asylum Applications 25.00 14.33 15.02 14.73 14.77 14.77 persons [+]
Military Expenditure 545.70 543 558 574 576 598 USD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence 106.50 107 108 108 108 108 [+]
Industrial Production 6.60 2.9 2.9 10.42 4.4 1.8 percent [+]
Industrial Production Mom 0.20 1.8 1.8 0.52 2.1 0.7 percent [+]
Manufacturing Production 7.20 9.12 10.43 11.37 11.97 13.07 percent [+]
Capacity Utilization 74.40 75 74.58 74.41 74.21 73.66 percent [+]
Changes in Inventories 88.47 201 25.48 157 55.89 51.49 EUR Million [+]
Car Registrations 1654.00 1796 1835 1812 1805 1805 Cars [+]
Cement Production 27.10 27.53 37.4 36.97 32.88 34.38 Thousands of Tonnes [+]
Competitiveness Index 4.78 4.76 4.76 4.76 4.76 4.83 Points [+]
Competitiveness Rank 30.00 29.62 29.62 32.89 33.98 20.24 [+]
Ease of Doing Business 12.00 13.26 13.42 13.57 13.72 15.82 [+]
Electricity Production 1316.00 1140 1006 975 991 1001 Gigawatt-hour [+]
Corporate Profits 632739.60 465672 622054 743658 578067 547473 EUR Thousand [+]
Corruption Index 70.00 70 70 70 71 71 Points [+]
Corruption Rank 22.00 27.08 27.37 27.66 27.95 27.62 [+]
Mining Production 36.10 16.89 22.38 20.19 20.26 20.4 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence -1.80 -1.63 -1.05 -0.73 -0.52 -0.22 [+]
Retail Sales MoM -18.00 -1 -1 0.42 18 10 percent [+]
Retail Sales YoY 2.00 8 8 2.56 5 2 percent [+]
Consumer Spending 2462.20 2470 2468 2448 2494 2533 EUR Million [+]
Personal Savings 8.21 9.13 9.04 8.95 8.86 8.06 percent [+]
Consumer Credit 7741.50 7754 7794 7834 7872 8196 EUR Million [+]
Bank Lending Rate 3.16 3.22 3.19 3.23 3.22 3.22 percent [+]
Households Debt To Income 70.87 67.17 67.04 66.92 66.79 54.65 percent [+]
Gasoline Prices 1.11 1.05 1.05 1.05 1.05 1.05 USD/Liter [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Housing Index 167.42 169 170 171 172 173 Index Points [+]
Building Permits 1419.00 1433 1681 1499 1583 1565 [+]
Construction Output 4.70 0.13 2.59 2.43 0.73 1.93 percent [+]
Home Ownership Rate 81.50 81.38 81.4 81.42 81.43 81.34 percent [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 20.00 20 20 20 20 20 percent [+]
Personal Income Tax Rate 20.00 20 20 20 20 20 percent [+]
Sales Tax Rate 20.00 20 20 20 20 20 percent [+]
Social Security Rate 35.40 35.4 35.4 35.4 35.4 35.4 percent [+]
Social Security Rate For Companies 33.80 33.8 33.8 33.8 33.8 33.8 percent [+]
Social Security Rate For Employees 1.60 1.6 1.6 1.6 1.6 1.6 percent [+]





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. 3/25/2017