Current Account in Estonia
Estonia - Current AccountQ1 GDP likely grew at a healthy annual pace. However, the expansion will have been slower than in Q4, and the economy likely registered a contraction in quarter-on-quarter terms. Looking at available indicators, industrial activity in January–March grew at a softer year-on-year pace than in Q4. Meanwhile, retail sales growth also eased amid the red-hot inflation rate and the Omicron wave, although a tight labor market, government aid and pent-up savings likely sheltered spending somewhat. In Q2, industrial activity is likely suffering from global commodity market shocks: Producer prices in April were at a 27-year high. That said, entry requirements for international travelers were eased on 1 April, which should be supporting tourism. In May, Estonia adopted a nearly EUR 900 million supplementary budget for defense spending, energy security and refugee aid, which should boost domestic demand.
Estonia - Current Account Data
|Current Account (% of GDP)||1.8||1.7||2.7||2.0||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Estonia Current Account Chart
Source: Statistics Estonia and FocusEconomics calculations.
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 7, 2022
Harmonized inflation came in at 25.2% in August, which was up from July’s 23.2%.
September 2, 2022
Industrial output collapsed 6.4% year on year in seasonally- and calendar-adjusted terms in July, which was down from June's flat result and marked the worst reading since May 2020.
August 31, 2022
GDP growth moderated to 0.6% year on year in the second quarter, from 4.5% in the first quarter.
July 7, 2022
Consumer prices rose 2.73% in June over the previous month, picking up from the 1.92% rise seen in May.
July 4, 2022
Industrial output rose 4.8% year-on-year in seasonally- and calendar-adjusted terms in May, which was above April's 4.0% increase.