Current Account in Estonia

Estonia Current Account | Economic News & Forecasts

Estonia - Current Account

Growth accelerated in Q3 expanding at the fastest pace this year so far on the back of solid domestic demand dynamics. Fixed investment rebounded after two consecutive quarters of contraction and rose robustly in Q3, propped up by a rapidly expanding construction sector. Furthermore, private consumption metrics remained strong in Q3, despite weakening somewhat from the previous quarter against the backdrop of intensifying inflationary pressures and slightly higher unemployment. On the external front, conditions were more challenging: Export growth tanked in Q3, largely due to near-stagnant goods exports amid a wider deceleration in the EU. Meanwhile, incoming data signals softer Q4 activity: Falling retail sales and weak industrial output growth in October reflected a marked deterioration in both business and consumer sentiment, although the latter improved slightly in November. On 13 December, the Estonian parliament approved the 2019 budget which will be 6.1% larger than in 2018. Government debt is still expected to fall and no changes to the taxation system are currently on the horizon.

Estonia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)0.5  0.3  2.0  1.9  3.1  

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Estonia Current Account Chart

Estonia Current Account
Note: Current account balance as % of GDP.
Source: Statistics Estonia and FocusEconomics calculations.

Estonia Facts

Exchange Rate1.140.65 %Jan 16
Stock Market1,206-0.38 %Jan 16

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