oth Standard and Poors and Moody's, government revenue collection in
excess of projections by more than 6%, growth in exports at a faster
rate than imports, and record levels of foreign direct investment,
among the highest per capita in Central and East Europe. Estonia
privatized its shipping company in 1997, but failed to make as much
progress privatizing other large infrastructure/utility companies,
such as Eesti Energia and the Oil Shale company, which it plans to
privatize in the next two years. The growing current account deficit,
which stood at nearly 10% of GDP at yearend 1997, remains a serious
concern. In 1998, GDP is expected to grow by 5.5% and inflation to
fall 10%.

GDP: purchasing power parity-$9.34 billion (1997 est.)

GDP-real growth rate: 10% (1997 est.)

GDP-per capita: purchasing power parity-$6,450 (1997 est.)

GDP-composition by sector:
agriculture: 7.1%
industry: 24.9%
services: 68% (1995 est.)

Inflation rate-consumer price index: 11.2% (1997 est.)

Labor force:
total: 785,000 (1996 est.)
by occupation: industry and construction 42%, agriculture and forestry
20%, other 38% (1990)

Unemployment rate: 3.6% (1997 est.)

Budget:
revenues: $1.7 billion
expenditures: $1.8 billion, including capital expenditures of $214
million (1996 est.)

Industries: oil shale, shipbuilding, phosphates, electric motors,
excavators, cement, furniture, clothing, textiles, paper, shoes,
apparel

Industrial production growth rate: 3% (1996 est.)

Electricity-capacity: 3.287 million kW (1995)

Electricity-production: 8.083 billion kWh (1995)

Electricity-consumption per capita: 4,355 kWh (1995)

Agriculture-products: potatoes, fruits, vegetables; livestock and
dairy products; fish

Exports:
total value: $2 billion (f.o.b., 1996)
commodities: textiles 16%, food products 16%, machinery and equipment
16%, metals 9% (1995)
partners: Finland, Russia, Sweden, Germany, Latvia (1995)

Imports:
total value: $3.2 billion (c.i.f., 1996)
commodities: machinery and equipment 29%, foodstuffs 14%, minerals
13%, textiles 13%, metals 12% (1995)
partners: Finland, Russia, Sweden, Germany (1995)

Debt-external: $270 million (January 1996)

Economic aid:
recipient: ODA, $147 million (1993)
note: Western commitments $285 million (including international
financial institutions)

Currency: 1 Estonian kroon (EEK) = 100 cents (introduced in August
1992)

Exchange rates: krooni (EEK) per US$1-14.527 (January 1998