eds being held in escrow until the prior ownership
(that is, Estonian or the Commonwealth of Independent States) can be
established. Estonia ranks first in per capita consumption among the former
Soviet republics. Agriculture is well developed, especially meat production,
and provides a surplus for export. Only about one-fifth of the work force is
in agriculture. The major share of the work force engages in manufacturing
both capital and consumer goods based on raw materials and intermediate
products from the other former Soviet republics. These manufactures are of
high quality by ex-Soviet standards and are exported to the other republics.
Estonia's mineral resources are limited to major deposits of shale oil (60%
of the old Soviet total) and phosphorites (400 million tons). Estonia has a
large, relatively modern port and produces more than half of its own energy
needs at highly polluting shale oil power plants. It has advantages in the
transition, not having suffered so long under the Soviet yoke and having
better chances of developing profitable ties to the Nordic and West European
countries. Like Latvia, but unlike Lithuania, the large portion of ethnic
Russians (30%) in the population poses still another difficulty in the
transition to an independent market economy.
National product:
GDP $NA
National product real growth rate:
-30% (1992 est.)
National product per capita:
$NA
Inflation rate (consumer prices):
1%-2% per month (first quarter 1993)
Unemployment rate:
3% (March 1993); but large number of underemployed workers
Budget:
revenues $223 million; expenditures $142 million, including capital
expenditures of $NA (1992)
Exports:
$NA
commodities: textile 11%, wood products and timber 9%, dairy products 9%
partners:
Russia and the other former Soviet republics 50%, West 50% (1992)
Imports:
$NA
commodities:
machinery 45%, oil 13%, chemicals 12%
partners:
Finland 15%, Russia 18%
External debt:
$650 million (end of 1991)
Industrial production:
growth rate -40% (1992)
Electricity:
3,700,000 kW capacity; 22,900 million kWh produced, 14,245 kWh per capita
(1992)

*Estonia, Economy

Industries:
accounts for 30% of labor force; oil shale, shipbuilding, phosphates,
electric motors, excavators, cement, furniture, clothing, textiles, paper,
shoes, apparel
Agriculture:
employs 20% of work force; very efficient; net exports of me