Estonia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.20 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 2.70 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 -170.31 -128 -128 -128 -128 -128 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 1.06 1.02 1.01 1 1.04 0.83 [+]
Stock Market 1112.33 1050 1040 1030 1020 856 points [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.20 0.5 0.4 0.6 0.6 0.8 percent [+]
GDP Annual Growth Rate 1.30 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 4405.78 4290 4592 4460 4686 4853 EUR Million [+]
Gross Fixed Capital Formation 901.55 826 1042 1032 1153 1147 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 143.44 133 138 137 137 127 EUR Million [+]
GDP From Construction 241.09 163 226 246 225 220 EUR Million [+]
GDP From Manufacturing 644.90 670 748 716 740 747 EUR Million [+]
GDP From Mining 49.93 37.14 35.74 36.25 36.79 36.38 EUR Million [+]
GDP From Services 60.31 53.78 55.42 67.97 67.57 67.44 EUR Million [+]
GDP From Transport 307.55 288 292 291 290 286 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 30.89 33.1 34.14 33.61 33.28 33.35 Thousand [+]
Long Term Unemployment Rate 2.50 1.81 1.99 1.86 1.92 1.92 percent [+]
Youth Unemployment Rate 12.20 14.36 14.45 14.42 14.43 14.43 percent [+]
Labour Costs 121.32 126 126 126 126 127 Index Points [+]
Job Vacancies 4.41 4.66 4.6 4.6 4.6 4.6 Thousand [+]
Wages 1118.64 1142 1099 1146 1140 1260 EUR/Month [+]
Wages in Manufacturing 1088.97 1079 1061 1076 1080 1121 EUR/Month [+]
Wage Growth 7.50 6.68 6.28 6.57 6.17 6.49 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 [+]
Productivity 108.80 100 105 106 106 105 Index Points [+]
Part Time Employment 56.70 58.76 59.48 58.22 57.46 57.99 Thousand [+]
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 2.70 2.5 2.7 2.9 2.8 2.3 percent [+]
Inflation Rate Mom 0.40 0.5 0.5 0.36 0.8 0.6 percent [+]
Harmonised Consumer Prices 101.61 102 102 102 103 103 Index Points [+]
Consumer Price Index CPI 197.42 198 199 199 200 206 Index Points [+]
Core Consumer Prices 101.28 100 100 99.91 99.86 99.82 Index Points [+]
Core Inflation Rate 1.20 1.08 1.12 1.15 1.16 1.19 percent [+]
GDP Deflator 118.88 118 118 119 118 120 Index Points [+]
Producer Prices 108.23 110 112 113 115 126 Index Points [+]
Producer Prices Change 2.50 2.6 2.5 2.7 2.8 2.4 percent [+]
Export Prices 323.02 322 323 323 323 323 Index Points [+]
Import Prices 139.15 138 138 138 138 138 Index Points [+]
Food Inflation 3.70 4.97 5.83 6.17 6.29 6.36 percent [+]
Cpi Transportation 179.84 179 180 180 180 180 Index Points [+]
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 11198.00 11875 12326 12795 13281 20764 EUR Million [+]
Money Supply M2 13904.00 14157 14505 14862 15229 20465 EUR Million [+]
Banks Balance Sheet 24121.80 24627 25033 25404 25750 29158 EUR Million [+]
Loans to Private Sector 7548.80 7609 7675 7733 7784 8080 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 -170.31 -128 -128 -128 -128 -128 EUR Million [+]
Exports 988.06 1028 1013 1028 1022 1024 EUR Million [+]
Imports 1158.37 1154 1150 1150 1150 1151 EUR Million [+]
Current Account 289.10 -124 -126 -128 -128 -109 EUR Million [+]
Current Account to GDP 1.90 1 1 0 1 0.4 percent [+]
External Debt 19140.40 19644 19765 19845 19888 20232 EUR Million [+]
Capital Flows 335.20 33.07 210 153 209 167 EUR Million [+]
Foreign Direct Investment 114.90 107 84.45 114 102 104 EUR Million [+]
Remittances 56.30 61.62 61.34 68.32 80.71 80.17 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 -163.13 -7.12 -5.75 -4.8 -6.88 -6.34 EUR Million [+]
Government Spending 759.25 749 869 749 869 869 EUR Million [+]
Government Spending to GDP 39.50 39.78 39.63 39.49 39.34 38.62 percent [+]
Government Revenues 716.86 590 625 604 614 611 EUR Million [+]
Fiscal Expenditure 879.99 597 633 630 630 630 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 103.90 104 104 104 104 104 [+]
Industrial Production 10.00 2.9 2.9 14.93 4.4 1.8 percent [+]
Industrial Production Mom -1.00 1.8 1.8 1.24 2.1 0.7 percent [+]
Manufacturing Production 5.40 2.71 2.41 3.48 3.56 4.67 percent [+]
Capacity Utilization 74.40 75 74.58 74.41 74.21 73.66 percent [+]
Changes in Inventories 65.66 197 18.86 178 6.44 17.72 EUR Million [+]
Car Registrations 2044.00 1881 1899 1877 1876 1875 Cars [+]
Cement Production 25.30 25.24 36.55 36.68 31.85 33.44 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 1096.00 933 940 982 988 979 Gigawatt-hour [+]
Corporate Profits 670576.00 557420 662484 784870 696658 675701 EUR Thousand [+]
Corruption Index 70.00 71.71 72.34 72.97 73.6 84.19 Points [+]
Corruption Rank 22.00 27.08 27.37 27.66 27.95 27.62 [+]
Mining Production -12.60 -11.68 -11.49 -11.71 -11.57 -11.61 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence -1.70 -1.3 -0.7 -0.33 -0.1 0.23 [+]
Retail Sales MoM 15.00 -1 -1 1.43 18 10 percent [+]
Retail Sales YoY 3.00 8 8 5.45 5 2 percent [+]
Consumer Spending 2397.10 2537 2549 2529 2617 2770 EUR Million [+]
Personal Savings 8.21 9.13 9.04 8.95 8.86 8.06 percent [+]
Consumer Credit 7731.80 7782 7857 7928 7995 8583 EUR Million [+]
Bank Lending Rate 3.33 3.3 3.31 3.29 3.3 3.3 percent [+]
Households Debt To Income 70.87 67.17 67.04 66.92 66.79 54.65 percent [+]
Gasoline Prices 1.25 1.19 1.19 1.18 1.18 1.18 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 1.30 -2.21 2.27 2.4 1.64 1.82 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. 2/26/2017