Senior managers of Eesti Pank attended a meeting of the Economic Affairs Committee of the Riigikogu on Tuesday, and noted that the longer the crisis lasts, the more need there will be to ease social problems. It should also be understood that the Estonian economy that emerges from the crisis may... more


Like elsewhere in the world, the most topical question affecting the Estonian economy is what impact the steps taken to combat the COVID-19 pandemic and the restrictions they have placed on the activities of households and businesses will have.

The latest Eesti Pank review of monetary... more

  • The economic crisis has so far affected services businesses and the transport sector the most
  • How much the economy shrinks by will depend primarily on how long the restrictions last in Estonia and elsewhere, and how well companies are able to survive the crisis
  • If the... more
Kaspar Oja Economist at Eesti Pank

Data from Statistics Estonia show that the Estonian economy grew by 4.3% last year. Growth in the fourth quarter was 3.9% over the year and 0.9% over the third quarter. Statistics Estonia corrected the rapid yearly growth in the economy in... more


With inflation remaining low, expectations for it falling and the economy in the euro area staying weak, the Governing Council of the European Central Bank decided at its meeting in September 2019 to ease monetary policy with a varied package of measures. One of these measures was that monthly... more

The economic circumstances for Estonia in the near term will be defined by the weakness of trading partners and the uncertainty prov-oked by the trade conflict between the US and China. Although central banks around the world have eased their monetary policy, encouraging growth in the economy by... more
  • The Estonian economy will grow by 3.4% this year and 2.3% in 2020
  • Growth in the economy will slow in the next three years as the outlook for foreign markets is poor and the previously strong growth in employment will start to fade
  • Unemployment will rise in... more
Kaspar Oja Eesti Panga ökonomist

The Estonian economy grew by 4.2% over the year in the third quarter and by 1% over the quarter. The growth was driven by exporting branches, while one-off factors also played a large role.

Global trade is being restrained by trade... more

Kaspar Oja Economist at Eesti Pank

Statistics Estonia estimates that the economy grew by 4.2% in the third quarter over the year. This was a little faster than in the second quarter when the growth was 3.8%. The faster growth in the third quarter was an exception in the wider... more


Among the presenters at the Äriplaan 2019 economic conference on Thursday was Eesti Pank Governor Ardo Hansson, who said that the past couple of years have been good for the Estonian economy, but a slower rate of growth is to be expected in future.

The past couple of years have been kind... more

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