Estonia
As a member of the European Union, Estonia’s economy is rated as high income by the World Bank. The Estonian economy Estonian economic miracle has often been described as the Baltic Tiger. By 1929, a stable currency, the kroon, was established. It is issued by the Bank of Estonia, the country’s central bank. Trade focused on the local market and the West, particularly Germany and the United Kingdom. Only 3% of all commerce was with the USSR. Before the Second World War Estonia was mainly an agriculture country whose products such as butter, milk and cheese was widely known on the western European markets. The USSR’s forcible annexation of Estonia in 1940 and the ensuing Nazi and Soviet destruction during World War II crippled the Estonian economy. Post-war Sovietization of life continued with the integration of Estonia’s economy and industry into the USSR’s centrally planned structure.
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Demographic Data |
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Economic Data |
|
Cultural & Other Data |
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|
GDP (PPP, $bn) |
27.72 |
Capital |
Tallinn |
|
|
Area (sq. km.) |
20,273 |
GDP Real Growth (%) |
-3 |
Other Large Cities |
Tartu, Narva, Parnu |
|
Population (million) |
1.29 |
PerCap GDP ($) |
21,200 |
Primary Language |
Estonian |
|
Population Growth % |
-0.632 |
Prime Lending Rate (%) |
6.46 |
Urban Population % |
69 |
|
% Population Under 15yrs |
14.9 |
Inflation Rate% |
6 |
Urban Growth % |
-0.3 |
|
Population below poverty line (%) |
5 |
Unemployment% |
6.2 |
Literacy (% of population) |
99.8 |
|
Agricultural Workers (% of population) |
5 |
Foreign Direct Investment($bn) |
18.94 |
Education spending as % of GDP |
5.1 |
|
Industrial Workers (% of population) |
34 |
Debt-External ($bn) |
29.5 |
CPI Score (1-10)* |
6.6 |
|
Service Workers (% of population) |
61 |
Exports ($bn) |
13.16 |
Corporate Income Tax % |
21 |
|
Labor Force (mil) |
0.686 |
Imports ($bn) |
16.23 |
Ease of Doing Business Ranking ** |
22 |
CURRENCY EXCHANGE RATE
06/23/09 $1 = 11.19 EEK
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