Indicators of economy in Estonia
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Estonia, on the other hand, reached USD 27,944 per capita, or 37.19 billion USD for the whole country. Estonia is therefore currently ranked 98 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Estonia ranks 35th in the list of the richest countries.Inflation in Estonia in 2021 was around 4.65%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 26.0 percent lower.
The index for perceived corruption in the public sector is 74, which is above average by global standards.
Back to overview: Estonia
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Estonia in 2020 increased from 31.08 billion US dollars to 31.37 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 0.93 percent increase has been rather unusual this year. While most countries have suffered significant losses, Estonia has certainly held its own. The tourism sector alone slumped by around 63 percent. The unemployment rate rose from 4.4 to 6.8 percent. The country's gross debt increased by 119.1 percent. The inflation rate fell from 2.3 percent previously to -0.4 percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Estonia Total | Estonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 37.19 bn USD | 27,943.70 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 35.22 bn USD | 26,461.85 USD | 16.895 tn USD | 32,835.37 USD |
Estonia ranked 39th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea.
Development of gross domestic product in billions of USD 1995 - 2021
Household debt and deficits 2021
Estonia Total | Estonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 6.55 bn USD | 4,918.45 USD | 15.068 tn USD | 29,285.70 USD |
Budget deficit | 853.20 m USD | 641.05 USD | 799.24 bn USD | 1,553.35 USD |
› Debt budget development
› Development of inflation
› Corruption in Estonia
› Cost of living in a global comparison
› Development of inflation
› Corruption in Estonia
› Cost of living in a global comparison
Imports and Exports 2021
Estonia Total | Estonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 29.09 bn USD | 21,856.13 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 29.16 bn USD | 21,912.89 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 1992 - 2021
Exports
Imports