| Economy - overview: |
In 2000, Estonia rebounded from the Russian financial crisis by scaling back its budget and reorienting trade away from Russian markets into EU member states. After GDP shrank 1.1% in 1999, the economy made a strong recovery in 2000, with growth estimated at 6.4% - the highest in Central and Eastern Europe. Estonia joined the World Trade Organization in November 1999 - the second Baltic state to join - and continues its EU accession talks. For 2001, Estonians predict GDP to grow around 6%, inflation of between 4.2%-5.3%, and a balanced budget. Substantial gains were made in completing privatization of Estonia's few remaining large, state-owned companies in 2000, and this momentum is expected to continue in 2001. Estonia hopes to join the EU during the next round of enlargement tentatively set for 2004.
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| GDP: |
purchasing power parity - $14.7 billion (2000 est.)
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| GDP - real growth rate: |
6.4% (2000 est.)
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| GDP - per capita: |
purchasing power parity - $10,000 (2000 est.)
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| GDP - composition by sector: |
agriculture:
3.6%
industry:
30.7%
services:
65.7% (1999)
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| Population below poverty line: |
8.9% (1995 est.)
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| Household income or consumption by percentage share: |
lowest 10%:
3.2%
highest 10%:
28.5% (1996)
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| Inflation rate (consumer prices): |
4.1% (1999 est.)
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| Labor force: |
785,500 (1999 est.)
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| Labor force - by occupation: |
industry 20%, agriculture 11%, services 69% (1999 est.)
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| Unemployment rate: |
11.7% (1999 est.)
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| Budget: |
revenues:
$1.37 billion
expenditures:
$1.37 billion, including capital expenditures of $NA (1997 est.)
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| Industries: |
oil shale, shipbuilding, phosphates, electric motors, excavators, cement, furniture, clothing, textiles, paper, shoes, apparel
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| Industrial production growth rate: |
5% (2000 est.)
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| Electricity - production: |
7.782 billion kWh (1999)
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| Electricity - production by source: |
fossil fuel:
99.72%
hydro:
0.09%
nuclear:
0%
other:
0.19% (1999)
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| Electricity - consumption: |
6.807 billion kWh (1999)
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| Electricity - exports: |
530 million kWh (1999)
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| Electricity - imports: |
100 million kWh (1999)
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| Agriculture - products: |
potatoes, fruits, vegetables; livestock and dairy products; fish
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| Exports: |
$3.1 billion (f.o.b., 2000)
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| Exports - commodities: |
machinery and equipment 24%, wood products 20%, textiles 17%, food products 9%, metals, chemical products (1999)
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| Exports - partners: |
Finland 19.4%, Sweden 18.8%, Russia 9.2%, Latvia 8.7%, Germany 7.5%, US 2.5% (1999)
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| Imports: |
$4 billion (f.o.b., 2000)
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| Imports - commodities: |
machinery and equipment 31%, chemical products 13%, foodstuffs 11%, metal products 8%, textiles 8% (1999)
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| Imports - partners: |
Finland 22.8%, Russia 13.5%, Sweden 9.3%, Germany 9.3%, Japan 4.7% (1999)
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| Debt - external: |
$1.6 billion (2000 est.)
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| Economic aid - recipient: |
$137.3 million (1995)
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| Currency: |
Estonian kroon (EEK)
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| Exchange rates: |
krooni per US dollar - 16.663 (January 2001), 16.969 (2000), 14.678 (1999), 14.075 (1998), 13.882 (1997), 12.034 (1996); note - krooni are tied to the German deutsche mark at a fixed rate of 8 to 1
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| Fiscal year: |
calendar year
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