Estonia Business Resources

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 enjoyed a surplus of $130 million in 2003.

Airlines
Airlines in Europe
Airlines Worldwide

Airports
Airports in Europe
Airports Worldwide

Country Budget
revenues: $4.622 billion
expenditures: $4.601 billion, including capital expenditures of NA (2004 est.)

Currency (code)
Estonian kroon (EEK)

Currency Exchange Rate
krooni per US dollar - 12.596 (2004), 13.856 (2003), 16.612 (2002), 17.478 (2001), 16.969 (2000)

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $19.23 billion (2004 est.)
GDP - real growth rate: 6% (2004 est.)
GDP - per capita: purchasing power parity - $14,300 (2004 est.)
GDP - composition by sector:
agriculture: 4.1%
industry: 28.9%
services: 67% (2004 est.)

Imports / Exports
Exports: $5.701 billion f.o.b. (2004 est.)
Exports - commodities: machinery and equipment 33%, wood and paper 15%, textiles 14%, food products 8%, furniture 7%, metals, chemical products (2001)
Exports - partners: Finland 23.1%, Sweden 15.3%, Germany 8.4%, Latvia 7.9%, Russia 5.7%, Lithuania 4.4% (2004)

Imports: $7.318 billion f.o.b. (2004 est.)
Imports - commodities:machinery and equipment 33.5%, chemical products 11.6%, textiles 10.3%, foodstuffs 9.4%, transportation equipment 8.9% (2001)
Imports - partners: Finland 22.1%, Germany 12.9%, Sweden 9.7%, Russia 9.2%, Lithuania 5.3%, Latvia 4.7% (2004)

Industries
engineering, electronics, wood and wood products, textile; information technology, telecommunications

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 660,000 (2004 est.)
Labor force - by occupation: agriculture 11%, industry 20%, services 69% (1999 est.)
Unemployment rate: 9.6% (2004 est.)