Dragged down by dwindling external demand in the Eastern neighbourhood and an ongoing decline in investments, the Estonian GDP will grow by 2.2% in 2015. Household consumption remains the strongest driver of economic activity. For the coming two years we expect a recovery of trade toward Western destinations, while the decline in exports to Russia should come to a halt. Moreover, an upswing particularly of public investments should accelerate GDP growth to 2.6% and 3.2%, respectively, in 2016 and 2017.

map Estonia
Main Economic Indicators201220132014201520162017
Population, 1000 persons.132313181315...
GDP, real change in %
GDP per capita (EUR at PPP)192001980020300...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average10.
Average gross monthly wages, EUR8879491005...
Consumer prices, % p.a.
Fiscal balance in % of GDP-0.2-0.20.6...
Public debt in % of GDP9.59.910.4...
Current account in % of GDP-2.4-0.11.0-0.4-1.8-2.3
FDI inflow, EUR mn13946641172...
Gross external debt in % of GDP99.791.894.7...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


Monthly Report No. 7-8/2015

Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2015
25 pages including 1 Table and 2 Figures



ESTONIA: Growth remains below potential

Sebastian Leitner
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 59-61
Details and Buy