• The Estonian economy had reached its pre-crisis level at the start of this year and the recovery is one of the fastest in Europe
  • The Estonian economy will grow by 5-8% this year and 4-5% next
  • The growth in the economy this year will be strongly affected by how much... more
Kaspar Oja Economist at Eesti Pank

The rapid growth in the economy in the first quarter of this year came mainly from an improvement in economic circumstances at the start of the year, not from the low reference base of last year. Yearly growth in Estonian GDP was 5.4% and... more


CORRECTION! Due to a technical error, we have corrected and changed both our comment and the estimate of employment and unemployment statistics for the first quarter to reflect the underlying data more accurately. We apologise for any confusion caused.

Orsolya Soosaar... more

Madis Müller, Governor of Eesti Pank, told the annual conference of the food industry on Wednesday that Estonia's goods exports have withstood the pandemic crisis well and that domestic retail trade benefited last year from facing relatively few restrictions. He said that food production has... more


New opportunities for Estonian businesses have emerged during the Covid-19 crisis as global supply chains get shorter and become more regional, said Governor of Eesti Pank Madis Müller at a conference on economic security on Wednesday.

He said there is a global trend above all in... more


The latest economic forecast from Eesti Pank expects the recovery of the Estonian economy will be delayed until the second half of the year, but the recovery will be faster. The central bank estimates there will be two sources of growth in the second half of the year as the restrictions on... more

Raido Kraavik Economist at Eesti Pank

The bank deposits of households in Estonia stood at 9.6 billion euros in February. An average of 112 million euros a month have been added to bank deposits over the past 12 months, meaning household deposits have grown by over 16% in a... more


The biggest challenges for Estonia have not only appeared with the current crisis but have roots in the Estonian economy going back a long time, and the crisis has only brought them into sharper focus, concluded the economic seminar on growing out of the crisis held on Wednesday by Eesti Pank.... more


Estonia and the euro area as a whole are facing not only a healthcare crisis, but also structural problems, and resolving them will need us to invest in projects that will support growth in the future, said Madis Müller, Governor of Eesti Pank, at an online seminar on growing out of the crisis... more


Madis Müller, Governor of Eesti Pank and member of the Governing Council of the European Central Bank

17 March 2021

I have promised to talk today about the state of the economy and the role of the central bank in exiting the crisis. Tomorrow will mark exactly one year since we... more

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