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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
GDP37.19 bn USD27,943.70 USD17.177 tn USD33,384.92 USD
Gross national product35.22 bn USD26,461.85 USD16.895 tn USD32,835.37 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 debt6.55 bn USD4,918.45 USD15.068 tn USD29,285.70 USD
Budget deficit853.20 m USD641.05 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 Estonia
Total
Estonia
per capita
EU
Total
EU
per capita
Imports29.09 bn USD21,856.13 USD8.916 tn USD17,329.02 USD
Exports29.16 bn USD21,912.89 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1992 - 2021

Exports
Imports



Estonia: AirportsLargest airports and airlines in EstoniaThe 5 biggest airports and in Estonia with further information and data with further information on airlines and destinations
Estonia: Public HolidaysPublic holidays in Estonia 2023-2027Statutory and inofficial holidays in Estonia for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.