The spread of the coronavirus from the start of the year had a major impact on the performance of the Estonian economy and of the economy of the whole world. Although the economic decline in many countries was less than was forecast at the first peak of the crisis, the economy of the euro area... more

Governor of Eesti Pank Madis Müller spoke at the Äriplaan 2021 economic conference on Tuesday, where he said that although the Estonian economy has outperformed expectations so far, the uncertainty caused by the outbreak of the coronavirus means that both businesses and the government need to... more


The contraction in the Estonian economy in the second quarter was smaller than had been feared, but a new outbreak of the coronavirus will push the recovery of the economy further into the future. Once the restrictions introduced under the emergency situation were lifted, the economy started to... more


Eesti Pank revised its balance of payment time series starting from 2016 and published them on 08.09 together with the balance of payment statistics for the second quarter.

Alongside the usual data, users can now access an additional set of figures and tables showing Estonia’s position... more

Kaspar Oja Economist at Eesti Pank

Gross Domestic Product (GDP) in Estonia was 6.9% less in the second quarter than a year earlier in the data of Statistics Estonia. This means the economy has done substantially better than was forecast in spring. The fall in the economy has... more


Estonia is going through a global pandemic with wide-ranging economic consequences that will leave the economy 10% smaller than it was last year if the virus fades away and restrictions are not re-imposed. The economy has already started to recover as the restrictions that have been introduced... more

Kaspar Oja Economist at Eesti Pank

Data from Statistics Estonia show that Estonian GDP was 0.7% smaller in the first quarter than in the same quarter of last year, and seasonally adjusted was 3.7% less than in the fourth quarter of last year. The economic position in the... more


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
Subscribe to Keyword: Estonian economy
Subscribe to Keyword: Estonian economy