The end of stagnation in Northern Europe will allow the Estonian GDP to grow by 2.6% in 2014. Strong increases in real wages coupled with still substantial employment growth will further support the upswing. A stronger revival in private and public investment activity should lift GDP growth to 3% in 2015 and 3.2% in 2016.

map Estonia
Main Economic Indicators201120122013201420152016
Population, 1000 persons.132713231316...
GDP, real change in %
GDP per capita (EUR at PPP)175001850019300...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average12.510.
Average gross monthly wages, EUR839887952...
Consumer prices, % p.a.
Fiscal balance in % of GDP1.1-0.2-0.5...
Public debt in % of GDP6.19.810.2...
Current account in % of GDP1.8-1.8-1.4-1.6-2.0-2.8
FDI inflow, EUR mn2451180837...
Gross external debt in % of GDP94.095.487.4...

Basic data are continuously updated.

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


ESTONIA: Waiting for Scandinavian neighbours to revive

Sebastian Leitner
in: Investment to the Rescue
wiiw Forecast Report No. Spring 2014, March 2014 , pp. 45-46
Details and Buy


Monthly Report No. 1/2014

Vasily Astrov, Vladimir Gligorov, Peter Havlik, Olga Pindyuk, Sandor Richter and Miklós Somai
wiiw Monthly Report No. 1, January 2014
28 pages including 10 Tables and 3 Figures