National accounts
National accounts are a kind of an accounting system for the country, showing how the economy is performing.
Economic growth is mainly measured by the gross domestic product (GDP) and gross national income (GNI). The higher these indicators, the better Estonia and the people living here are doing. In addition to aggregate indicators, we analyse data by sectors and compile input-output tables to study the interactions between sectors of the economy.
National accounts provide information on
- changes in the gross domestic product (GDP);
- gross national income;
- productivity indicators;
- financial well-being of sectors (sector accounts)
- interactions between sectors of the economy (input-output tables).
National accounts indicators help to understand economic developments, and they are used in planning the activities of public institutions and enterprises.
Real GDP growth rate (quarterly, seasonally adjusted)
3.3 %
3RD QUARTER 2020
GDP at current prices
6.97 billion euros
3RD QUARTER 2020
GDP at current prices per capita
21,219.8 euros
7.9%
2019
Private consumption at current prices
3.32 billion euros
3RD QUARTER 2020
Private consumption (annual real growth rate)
-0.7 %
3RD QUARTER 2020
Investments (annual real growth rate)
12.9 %
3RD QUARTER 2020
Productivity per hour worked (annual real growth rate, seasonally adjusted)
0.5 %
3RD QUARTER 2020
Unit labour cost (annual nominal indicator change, seasonally adjusted)
2.2 %
3RD QUARTER 2020
GDP per capita by county, % of Estonian average
News
In the fourth quarter, the economy contracted by 1.2%
According to Statistics Estonia, in the fourth quarter of 2020, the gross domestic product (GDP) decreased by 1.2% year on year, and the GDP at current prices was 7.3 billion euros. In 2020 as a whole, the Estonian economy shrank by 2.9%.
News
The main driver of economic growth in 2019 was the service sector in Harju county
According to Statistics Estonia, in 2019, the gross domestic product (GDP) of Estonia at current prices was 28 billion euros. Harju county accounted for 18 billion euros of the GDP, whereas the city of Tallinn contributed 15 billion euros in that county.
News
In the third quarter, the Estonian economy shrank by 1.9%
According to Statistics Estonia, in the third quarter of 2020, the gross domestic product (GDP) decreased by 1.9% year on year. The GDP at current prices was 7 billion euros. Transportation and storage and manufacturing activities were the main contributors to the economic decline.
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