wiiw Forecast Reports

ESTONIA: Tight labour market without overheating


Sebastian Leitner

in: Strong Growth Amid Increased Negative Risks
wiiw Forecast Report No. Autumn 2018, November 2018 , pp. 84-87

free download

Investment activity has abated so far in 2018, following last year’s peak growth induced by fresh inflows of EU funds. However, external demand continued growing at a higher pace than expected. Household consumption, backed by a considerable rise in employment and real wages, continues to be a strong driver of economic activity. We project GDP to grow at a rate of 3.5% in 2018 and 3.1% in 2019, while declining somewhat to 2.7% in 2020.


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

Countries covered: Estonia