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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.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||1323||1318||1315||.||.||.|
|GDP, real change in %||5.2||1.6||2.9||2.2||2.6||3.2|
|GDP per capita (EUR at PPP)||19200||19800||20300||.||.||.|
|Gross industrial production, real change in %||1.1||4.1||1.9||.||.||.|
|Unemployment rate - LFS, in %, average||10.0||8.6||7.4||6.3||5.9||5.5|
|Average gross monthly wages, EUR||887||949||1005||.||.||.|
|Consumer prices, % p.a.||4.2||3.2||0.5||0.5||1.5||2.2|
|Fiscal balance in % of GDP||-0.2||-0.2||0.6||.||.||.|
|Public debt in % of GDP||9.5||9.9||10.4||.||.||.|
|Current account in % of GDP||-2.4||-0.1||1.0||-0.4||-1.8||-2.3|
|FDI inflow, EUR mn||1394||664||1172||.||.||.|
|Gross external debt in % of GDP||99.7||91.8||94.7||.||.||.|
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
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 59-61 Details and Buy