Indicators of economy in Estonia
The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Estonia reached 23.027 US dollars per inhabitant, or 30.65 bn US Dollar in the whole country. Estonia is therefore currently ranked 99 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Estonia is in the list of the world's richest countries in place 39.Inflation in Estonia was in 2021 at around 4.65%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 26.5% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
Back to overview: Estonia
Impact of the Covid-19 pandemic in 2020
Overall, the gross domestic product in Estonia in 2020 decreased moderatly from 31.05 billion US Dollar to 30.65 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 1.3% is still comparatively good this year. Numerous countries suffered more substantial losses. 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%. The inflation rate has fallen from 2.3 percent previously to -0.4 percent by the end of 2020.Unemployment rates in percent 1991 - 2021
Economic performance 2020
Estonia Total | Estonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 30.65 bn USD | 23,027.03 USD | 15,291.93 tn USD | 29,692.11 USD |
Gross national product | 30.84 bn USD | 23,173.27 USD | 15,330.84 tn USD | 29,767.66 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 the Gross domestic product in billion US Dollar 1995 - 2020
Household debt and deficits 2021
Estonia Total | Estonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 6.55 bn USD | 4,917.99 USD | 15,068.26 tn USD | 29,257.82 USD |
Budget deficit | 853.20 m USD | 640.99 USD | 799.24 bn USD | 1,551.87 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
Im- and Exports 2021
Estonia Total | Estonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 21.77 bn USD | 16,358.71 USD | 7,340.01 bn USD | 14,251.98 USD |
Exports | 21.85 bn USD | 16,417.71 USD | 7,939.04 bn USD | 15,415.11 USD |
Development of imports and exports in billion US dollars 1992 - 2021
Exports
Imports