Dragged down by dwindling external demand in the neighbouring countries to the east and the current decline in investments, the Estonian GDP will grow by 1.9% in 2015. Household consumption remains the strongest driver of economic activity. Over the next two years we expect a recovery in trade with countries to the west, while the decline in exports to Russia should come to a halt. Moreover, an upswing, particularly in public investments, should boost GDP growth to 2.6% and 2.8% in 2016 and 2017, respectively.

map Estonia
Main Economic Indicators201320142015201620172018
Population, 1000 persons.131813151312...
GDP, real change in %
GDP per capita (EUR at PPP)200002090021800...
Gross industrial production, real change in %4.11.9-2.0...
Unemployment rate - LFS, in %, average8.
Average gross monthly wages, EUR94910051060...
Consumer prices, % p.a.
Fiscal balance in % of GDP-
Public debt in % of GDP9.910.410.1...
Current account in % of GDP-
FDI inflow, EUR mn6641172-100...
Gross external debt in % of GDP91.894.793.1...

Basic data are continuously updated.

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


ESTONIA: Consumption growth remains robust

Sebastian Leitner
in: Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles
wiiw Forecast Report No. Autumn 2015, , pp. 77-79
Details and Buy


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,
25 pages including 1 Table and 2 Figures