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The Estonian economy contracted by 1.3% last year

Article
According to the preliminary data of Statistics Estonia, in the fourth quarter of 2022, the gross domestic product (GDP), which shows how the Estonian economy is doing, declined by 4.1% compared with the same period of 2021. The GDP at current prices was 10 billion euros.

General government deficit decreased last year, the debt level was stable (corrected on 24.03.2023)

Article
According to the preliminary data of Statistics Estonia, in 2022, the Estonian general government deficit was 1% and the debt level was 18% of the gross domestic product (GDP). At the end of last year, the total expenditures of the general government exceeded revenues by 335 million euros.

Economic growth hindered by rising prices

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In the first quarter of 2022, the gross domestic product (GDP) grew by 4.3% year on year. The GDP at current prices was 8 billion euros.

Real GDP growth rate (chain-linked volume)

Area
Gross domestic product (GDP) is calculated taking account of all economic transactions. When calculating the real economic growth, there needs to be an adjustment for price changes. The nominal GDP includes price changes, which is removed when calculating the real GDP. The real economic growth shows how much the volume of goods in the economy has increased.

General government deficit decreased significantly, the debt level is stable

Article
According to the preliminary data of Statistics Estonia, in 2021, the Estonian general government deficit was 2.4% and the debt level was 18% of the gross domestic product (GDP). At the end of last year, the total expenditures of the general government exceeded revenues by 721 million euros.

Gender pay gap was the smallest on record

Article
According to Statistics Estonia, in 2021, the gross hourly earnings of female employees were 14.9% smaller than the earnings of male employees. The gender pay gap decreased by 0.7 percentage points year on year.

The main driver of economic growth in 2019 was the service sector in Harju county

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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.

Estonian economy grew by 5.2% compared to the pre-pandemic level

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According to the preliminary data of Statistics Estonia, in the fourth quarter of 2021, the gross domestic product (GDP), which shows how the Estonian economy is doing, grew by 8.6% compared to the same period of 2020. The GDP at current prices was 8.7 billion euros.