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In Estonia the ongoing sluggish economic environment in the EU in general and the Scandinavian countries in general placed a palpable strain on the country’s growth prospects. Thus, the mood in terms of private investment remains subdued, while public investment activity has been sharply curtailed compared to the recent recovery phase. Only household consumption is fuelling GDP growth thanks to real wages increasing more than growth in productivity.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||1327||1323||1316||.||.||.|
|GDP, real change in %||9.6||3.9||0.7||3.7||4.1||.|
|GDP per capita (EUR at PPP)||17500||18500||18900||.||.||.|
|Gross industrial production, real change in %||19.9||-0.2||3.4||.||.||.|
|Unemployment rate - LFS, in %, average||12.5||10.0||8.6||8.5||8.0||.|
|Average gross monthly wages, EUR||839||887||952||.||.||.|
|Consumer prices, % p.a.||5.1||4.2||3.2||4.0||4.2||.|
|Fiscal balance in % of GDP||1.1||-0.2||-0.5||.||.||.|
|Public debt in % of GDP||6.1||9.8||10.2||.||.||.|
|Current account in % of GDP||1.8||-1.8||-1.4||-3.0||-3.3||.|
|FDI inflow, EUR mn||245||1180||837||.||.||.|
|Gross external debt in % of GDP||94.0||95.4||88.4||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Estonia: Consumption should avert a second dip
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 75-77 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 Details