Estonia Economy:
Estonia, as a new member of the World Trade Organization and the European Union, has transitioned effectively to a modern market economy with strong ties to the West, including the pegging of its currency to the euro. The economy benefits from strong electronics and telecommunications sectors and is greatly influenced by developments in Finland, Sweden, and Germany, three major trading partners. The current account deficit remains high; however, the state budget enjoyed a surplus of $130 million in 2003.
GDP (purchasing power parity):
$19.23 billion (2004 est.)
GDP — real growth rate:
6% (2004 est.)
GDP — per capita:
purchasing power parity: $14,300 (2004 est.)
GDP — composition by sector:
agriculture: 4.1%
industry: 28.9%
services: 67%
(2004)
Labor force:
660,000 (2004 est.)
Labor force — by occupation:
agriculture: 11%, industry: 20%, services: 69% (1999 est.)
Unemployment rate:
9.6% (2004 est.)
Population below poverty line:
NA (2000 est.)
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 29.8% (1998)
Distribution of family income — Gini index:
37 (1999 est.)
Inflation rate (consumer prices):
3% (2004 est.)
Investment (gross fixed):
28.2% of GDP (2004 est.)
Budget:
revenues: $4.62 billion
expenditures: $4.6 billion including capital expenditures of NA (2004 est.)
Public debt:
5.4% of GDP (2004 est.)
Agriculture — products:
Potatoes, vegetables; livestock and dairy products; fish
Industries:
engineering, electronics, wood and wood products, textile; information technology, telecommunications
Industrial production growth rate:
5% (2000 est.)
Electricity — production:
8.3 billion kWh (2002 est.)
Electricity — production by source:
fossil fuel: NA
hydro: NA
nuclear: NA
other: NA
Electricity — consumption:
6.36 billion kWh (2002 est.)
Electricity — exports:
1.56 billion kWh (2002 est.)
Electricity — imports:
200 kWh (2002 est.)
Oil — production:
5,100 bbl/day (2001 est.)
Oil — consumption:
24,000 bbl/day (2001 est.)
Oil — exports:
NA (2001 est.)
Oil — imports:
NA (2001 est.)
Natural gas — production:
0 cu m (2001 est.)
Natural gas — consumption:
1.27 billion cu m (2001 est.)
Natural gas — exports:
0 cu m (2001 est.)
Natural gas — imports:
1.27 billion cu m (2001 est.)
Current account balance:
$-1.17 billion (2004 est.)
Exports:
$5.7 billion (f.o.b., 2004 est.)
Exports — commodities:
machinery and equipment 33%, wood and paper 15%, textiles 14%, food products 8%, furniture 7%, metals, chemical products (2001 est.)
Exports — partners:
Finland 23.1%, Sweden 15.3%, Latvia 7.9%, Germany 8.4%, , Russia 5.7%, Lithuania 4.4% (2001)
Imports:
$7.32 billion (f.o.b. 2004 est.)
Imports — commodities:
machinery and equipment 33.5%, chemical products 11.6%, textiles 10.3%, foodstuffs 9.4%, transportation equipment 8.9% (2001 est.)
Imports — partners:
Finland 22.1%, Germany 12.9%, Sweden 9.7%, Russia 9.2%, Lithuania 5.3%, Latvia 4.7% (2004)
Reserves of foreign exchange and gold:
$1.5 billion (2004 est.)
Debt — external:
$8.37 billion (2004 est.)
Economic aid — recipient:
$108 million (2000 est.)
Currency:
Estonian kroon (EEK)
Exchange rates:
krooni per US$: 12.6 (2004 est.), 13.86 (2003 est.), 16.61 (2002 est.), 17.48 (2001 est.), 16.97 (2000 est.)
Fiscal year:
calendar year
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