telephone: [372] 668-8100
FAX: [372] 668-8134
Flag description: pre-1940 flag restored by Supreme Soviet in May 1990 - three equal horizontal bands of blue (top), black, and white
Estonia Economy
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.
GDP: purchasing power parity - $14.7 billion (2000 est.)
GDP - real growth rate: 6.4% (2000 est.)
GDP - per capita: purchasing power parity - $10,000 (2000 est.)
GDP - composition by sector: agriculture: 3.6%
industry: 30.7%