Key facts * Currency: the €uro from 1 January 2011. The Estonian kroon continued in parallel use for a short time, and prices must continue to show both currencies for longer. The kroon replaced the Russian rouble in 1992. * Unemployment: 7.1% (June 2020) * Inflation: -1.1% (Sept 2020) * GDP per capita: $31,700 (2017 estimated)
General: Since independence governments have pursued a free market, pro-business agenda and 2003-2007 achieved high growth rates.
Trade: The economy is driven by engineering, food products, metals, chemicals and wood products with strong electronics and telecommunications sectors * Tourism accounts for 15% of GDP * Strong trade ties to Finland, Sweden and Germany
Exports: machinery and electrical equipment 21%, wood and wood products 9%, metals 9%, furniture 7%, vehicles and parts 5%, food products and beverages 4%, textiles 4%, plastics 3%.
Exports to Finland 16.2%, Sweden 13.5%, Russia 7.3%, Germany 6.9% (2017 data)
|