wiiw Forecast Reports

ESTONIA: Full-speed growth riding on massive investment


Maryna Tverdostup

in: Recovery Beating Expectations
wiiw Forecast Report No. Autumn 2021, October 2021 , pp. 54-58

free download

The first half of 2021 showed Estonia to be another post-pandemic success story. Record high investment flooded into the ICT sector, while strong purchasing power and a rapid revival in foreign trade are the pillars of economic growth. We expect the economy to grow by 7.8% in 2021. Even by the middle of the year, the country’s pre-pandemic level of output had been exceeded. Future growth will be driven by production expansion, steady consumer demand, rising investment, a strengthening position on the foreign market and further digital transformation.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Estonia