Nominal GDP for Estonia was US$36.3bn in 2021, down from US$31.0bn in 2020. The Estonian population was estimated at 1.3m in 2021 according to the IMF, while Finland is Estonia’s biggest trading partner.

Variables Surveyed for Estonia

Variables covered in our monthly analysis of Estonia include:

  • Gross Domestic Product (GDP)
  • Private Consumption
  • Gross Fixed Investment
  • Industrial Production
  • Consumer Price Inflation
  • General Government Budget Balance
  • Merchandise Exports
  • Merchandise Imports
  • Trade Balance
  • Current Account Balance
  • Monthly Inflation Forecasts

Consensus Forecasts for Estonia

Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. In the hard copy and pdf version of the publication, we also show selected “comparison forecasters”  including the IMF, OECD, and European Commission. The table below shows a small example set of forecasts for GDP Growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Eastern Europe Conensus Forecasts, September 2022

Special Surveys

In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Estonia on topics such as:

Main Data Sources for Estonia

  • Statistics Estonia: Statistics Estonia is the Estonian government agency responsible for producing official statistics regarding Estonia.
  • Eesti Pank: Bank of Estonia is the central bank of Estonia as well as a member of the Eurosystem organisation of euro area central banks. The Bank of Estonia also belongs to the European System of Central Banks.

Comprehensive Forecasts Coverage

Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.