wiiw Forecast Reports

ESTONIA: Slowdown in external demand accompanied by deferred investment activity


Sebastian Leitner

in: Uncertainty in Turbulent Times
wiiw Forecast Report No. Spring 2020, March 2020 , pp. 87-90

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Investment activity is expected to slow in 2020, following last year’s strong increase. Furthermore, growth in external demand will continue to decline both this year and in 2021. Household consumption, backed by an ongoing rise in employment and real wages, continues to be a strong driver of economic activity. We project a decline in GDP growth to 2.7% in 2020, followed by a further slowdown to 2.5% in 2021 and a slight upswing to 2.7% in 2022.


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

Countries covered: Estonia