Economy Estonia
Economy - overview:
Estonia, as a new member of the World Trade Organization and the
European Union, has transitioned effectively to a modern market
economy with strong ties to the West, including the pegging of its
currency to the euro. The economy benefits from strong electronics
and telecommunications sectors and is greatly influenced by
developments in Finland, Sweden, and Germany, three major trading
partners. The current account deficit remains high; however, the
state budget is essentially in balance, and public debt is low.
GDP (purchasing power parity):
$23.34 billion (2005 est.)
GDP (official exchange rate):
$12.19 billion (2005 est.)
GDP - real growth rate:
10.5% (2005 est.)
GDP - per capita (PPP):
$17,500 (2005 est.)
GDP - composition by sector: agriculture: 4% industry: 29.4% services: 66.6% (2005 est.)
Labor force: 670,000 (2005 est.)
Labor force - by occupation: agriculture: 11% industry: 20% services: 69% (1999 est.)
Unemployment rate:
7.8% (2005)