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Economy of Estonia vs Iran compared: GDP & Debt

Updated on by Georank team

Estonia has a GDP of $43.1B compared to $475B for Iran, ranking 100/197 and 34/197 by economy size, respectively.

Estonia has $10.1B in government debt (23.4% of GDP), compared to $162B (34% of GDP) in Iran.

Estonia vs Iran GDP by year

Estonia
Iran
1x
Year GDP, current $
Estonia Iran
2024 $43,130,419,829 $475,252,089,215
2023 $41,470,344,395 $457,510,482,317
2022 $38,226,641,740 $422,662,261,526
2021 $37,201,101,171 $407,350,685,583
2020 $31,820,771,494 $280,934,329,280
2019 $31,873,748,770 $347,988,400,958
2018 $31,222,632,741 $411,903,303,606
2017 $27,469,461,919 $510,239,893,418
2016 $24,561,027,788 $478,618,064,871
2015 $23,311,847,751 $409,191,686,497
2014 $27,055,689,003 $462,284,793,281
2013 $25,451,032,781 $500,399,839,840
2012 $23,237,406,116 $644,019,315,004
2011 $23,303,915,795 $629,082,257,472
2010 $19,524,355,419 $487,069,570,464
2009 $19,633,984,440 $414,059,094,949
2008 $24,342,935,404 $406,070,949,554
2007 $22,450,264,166 $349,736,591,832
2006 $17,025,671,810 $265,602,187,404
2005 $14,109,491,357 $224,970,371,325
2004 $12,148,595,031 $187,754,571,248
2003 $9,876,595,528 $151,911,222,119
2002 $7,370,119,619 $128,626,917,504
2001 $6,250,218,423 $126,878,750,296
2000 $5,686,579,748 $109,591,707,802
1999 $5,756,912,266 $113,848,450,088
1998 $5,674,080,543 $110,276,913,363
1997 $5,154,420,649 $113,919,163,421
1996 $4,786,018,988 $120,403,931,885
1995 $4,502,970,889 $96,419,225,744
1994 $4,123,011,420 $71,841,461,173
1993 $4,013,091,682 $63,743,623,232
1992 - $119,768,691,217
1991 - $131,637,664,958
1990 - $124,813,263,926
1989 - $120,496,362,916
1988 - $123,057,861,334
1987 - $134,009,995,923
1986 - $209,094,561,833
1985 - $180,183,629,600
1984 - $162,276,728,620
1983 - $156,365,156,618
1982 - $125,948,756,439
1981 - $100,499,312,750
1980 - $94,362,275,580
1979 - $90,391,877,326
1978 - $77,994,316,621
1977 - $80,600,122,702
1976 - $68,055,295,081
1975 - $51,776,222,350
1974 - $46,209,092,072
1973 - $27,081,698,250
1972 - $17,153,463,263
1971 - $13,731,802,833
1970 - $10,976,245,154
1969 - $9,743,089,607
1968 - $8,623,172,960
1967 - $7,555,383,690
1966 - $6,789,938,672
1965 - $6,197,319,929
1964 - $5,379,845,648
1963 - $4,928,628,018
1962 - $4,693,566,416
1961 - $4,426,949,095
1960 - $4,199,134,390

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/estonia/iran | CC BY

GDP per capita in Estonia vs Iran by year

Estonia
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Estonia Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $31,428 $49,969 $5,190 $19,874
2023 $30,264 $48,637 $5,049 $18,917
2022 $28,340 $48,218 $4,721 $17,546
2021 $27,951 $44,252 $4,605 $15,884
2020 $23,934 $40,672 $3,203 $15,119
2019 $24,021 $40,586 $3,997 $13,928
2018 $23,618 $37,121 $4,783 $15,324
2017 $20,852 $34,507 $6,001 $15,719
2016 $18,666 $31,948 $5,711 $15,195
2015 $17,722 $29,713 $4,953 $14,274
2014 $20,582 $29,404 $5,672 $16,065
2013 $19,310 $27,831 $6,223 $16,215
2012 $17,568 $26,243 $8,114 $17,021
2011 $17,556 $24,652 $8,026 $19,275
2010 $14,664 $21,614 $6,291 $18,628
2009 $14,712 $20,489 $5,416 $17,615
2008 $18,206 $22,804 $5,377 $17,549
2007 $16,745 $22,201 $4,688 $17,384
2006 $12,641 $19,344 $3,619 $15,907
2005 $10,415 $16,638 $3,132 $15,016
2004 $8,916 $14,538 $2,672 $14,425
2003 $7,205 $13,135 $2,209 $13,755
2002 $5,343 $11,667 $1,891 $12,554
2001 $4,503 $10,309 $1,881 $11,533
2000 $4,071 $9,425 $1,650 $11,187
1999 $4,141 $8,412 $1,740 $10,489
1998 $4,093 $8,451 $1,709 $10,285
1997 $3,683 $7,980 $1,790 $10,101
1996 $3,381 $6,892 $1,915 $9,916
1995 $3,134 $6,480 $1,550 $9,255
1994 $2,819 $5,967 $1,168 $8,951
1993 $2,686 $5,814 $1,038 $8,933
1992 - $5,872 $1,957 $8,888
1991 - $7,151 $2,194 $8,580
1990 - $7,481 $2,138 $7,566
1989 - - $2,125 -
1988 - - $2,234 -
1987 - - $2,513 -
1986 - - $4,064 -
1985 - - $3,634 -
1984 - - $3,395 -
1983 - - $3,397 -
1982 - - $2,845 -
1981 - - $2,393 -
1980 - - $2,368 -
1979 - - $2,352 -
1978 - - $2,101 -
1977 - - $2,243 -
1976 - - $1,954 -
1975 - - $1,532 -
1974 - - $1,409 -
1973 - - $851 -
1972 - - $555 -
1971 - - $457 -
1970 - - $377 -
1969 - - $345 -
1968 - - $314 -
1967 - - $283.7 -
1966 - - $262.9 -
1965 - - $247.5 -
1964 - - $221.7 -
1963 - - $209.6 -
1962 - - $205.8 -
1961 - - $200.1 -
1960 - - $195.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/estonia/iran | CC BY

Estonia's GDP per capita is $31,428, ranking 40/197, compared to $5,190 in Iran, ranking 119/197. Adjusted for purchasing power (GDP per capita PPP), Estonia ranks 45th at $49,969, while Iran ranks 97th at $19,874.

Economic indicators

Estonia Iran
Gross domestic product
$43.1B
2024
$475B
2024
GDP rank
100/197
2024
34/197
2024
GDP growth
-0.09%
2023-2024
3.66%
2023-2024
GDP per capita
$31,428
2024
$5,190
2024
GDP per capita rank
40/197
2024
119/197
2024
GDP per capita, PPP
$49,969
2024
$19,874
2024
GDP per capita PPP rank
45/197
2024
97/197
2024
Government debt
$10.1B
2024
$162B
2024
Debt-to-GDP ratio
23.4%
2024
34%
2024
Government debt per person
$7,356
2024
$1,764
2024
Government debt per person rank
65/185
2024
122/185
2024
Average annual personal income after taxes
$23,740
2026
$2,964
2026
Market capitalization of domestic companies n/a
$172B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
23.7%
2023
28.2%
2023
Income share by poorest 10%
3.1%
2023
2.8%
2023
Government expenditure, % of GDP
43.6%
2024
14.2%
2024
Consumer prices inflation
3.52%
2023-2024
32.5%
2023-2024
Central bank interest rate n/a
23%
2023
Unemployment rate
7.5%
2024
7.63%
2024
Population
1339590
93468444

Spending and national debt comparison by year

Estonia
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Estonia Iran
Government spending Government debt Government spending Government debt
2024 43.6% 23.4% 14.2% 34%
2023 43.5% 20.1% 12.8% 29.6%
2022 40.1% 19.2% 12.8% 34.5%
2021 42.1% 18.4% 13.4% 39.9%
2020 44.7% 19.1% 12.1% 47.1%
2019 39.1% 9.05% 13.6% 44.6%
2018 38.8% 8.51% 14.8% 41.6%
2017 38.9% 9.43% 16.4% 43.2%
2016 38.9% 10.2% 16.3% 45.9%
2015 39.3% 10.8% 14.1% 32.1%
2014 37.6% 11.6% 12.3% 10.9%
2013 38.3% 11.4% 11.5% 10.2%
2012 39.4% 11.1% 11.4% 11.7%
2011 37.6% 7.6% 14.6% 10.6%
2010 40.7% 7.99% 14.1% 12.8%
2009 46.1% 7.98% 15.7% 11.5%
2008 39.5% 4.67% 16.8% 10.6%
2007 33.8% 3.91% 14.2% 13.5%
2006 33.5% 4.72% 18.7% 15.2%
2005 33.7% 4.73% 17.9% 18.3%
2004 34.1% 5.16% 15.1% 21.1%
2003 35% 5.6% 15.7% 21.9%
2002 35.9% 5.66% 15.6% 23.4%
2001 35.3% 4.93% 13.6% 21%
2000 36.4% 5.11% 13.3% 18.2%
1999 40.7% 5.93% 15.7% 22.2%
1998 38.9% 5.4% 16.9% 29.6%
1997 35.8% 6.03% 17.4% 30.9%
1996 38.6% 7.3% 17.3% 29.3%
1995 39.5% 8.66% 21% 31.2%
1994 - - 23% 41.7%
1993 - - 27.2% 25.6%
1992 - - 14.4% 25.2%
1991 - - 14% 29.3%
1990 - - 16.4% 37%
1989 - - 20% 48.8%
1988 - - 23.6% 53.2%
1987 - - 18.6% 48.6%
1986 - - 19% 47.4%
1985 - - 21.6% 8.73%
1984 - - 23.7% 10%
1983 - - 27.5% 35.7%
1982 - - 29.7% 47.7%
1981 - - 33.7% 47.6%
1980 - - 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20).

GeoRank.org/economy/estonia/iran | CC BY

In 2024, Estonia's government spending was $18.8B, accounting for 43.6% of its GDP, while Iran spent $67.5B, or 14.2% of GDP.

Debt-to-GDP ratio is 23.4% in Estonia and 34% in Iran, ranking 171/185 and 147/185, respectively.

Government deficit by year

Deficit/surplus
Estonia

Iran
1x
Year Deficit/surplus, % of GDP
Estonia Iran
2024 -1.51% -3.83%
2023 -3.13% -2.54%
2022 -1.08% -2.64%
2021 -2.57% -3.01%
2020 -5.42% -4.87%
2019 -0.11% -4.3%
2018 -1.15% -1.59%
2017 -1.07% -1.55%
2016 -0.62% -1.7%
2015 -0.24% -1.3%
2014 0.42% -0.91%
2013 -0.66% -0.72%
2012 -0.86% -0.5%
2011 0.09% -0.66%
2010 -1.09% -0.84%
2009 -3.43% -3.3%
2008 -2.92% -4.39%
2007 2.5% -2.41%
2006 2.71% -4.91%
2005 1.07% -2.44%
2004 2.29% -2.45%
2003 1.67% -2.76%
2002 0.29% -2.88%
2001 0.4% 0.02%
2000 -0.11% 5.42%
1999 -3.42% -0.51%
1998 0.65% -5.03%
1997 2.98% -1.81%
1996 -0.93% -0.75%
1995 -0.26% -2.63%
1994 - -3.36%
1993 - -5.15%
1992 - -0.86%
1991 - -1.64%
1990 - -1.73%
1989 - -4.45%
1988 - -10.3%
1987 - -6.84%
1986 - -7.84%
1985 - -3.74%
1984 - -4.02%
1983 - -6.15%
1982 - -5.55%
1981 - -10.7%
1980 - -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/estonia/iran | CC BY

In 2024, Estonia's government deficit, the difference between spending and revenue, was $651M, equivalent to 1.51% of GDP. This compares to Iran's deficit of $18.2B, or 3.83% of GDP.

Over the past 30 years, Estonia recorded a fiscal deficit in 19 of those years, while Iran ran a deficit in 28 years. On average, Estonia posted an annual deficit equal to 0.52% of GDP, compared to deficit of 2.06% of GDP for Iran.

Inflation comparison by year

Inflation
Estonia

Iran
1x
Year Consumer prices inflation
Estonia Iran
2024 3.52% 32.5%
2023 9.16% 44.6%
2022 19.4% 43.5%
2021 4.65% 43.4%
2020 -0.44% 30.6%
2019 2.28% 39.9%
2018 3.44% 18%
2017 3.42% 8.04%
2016 0.15% 7.25%
2015 -0.49% 12.5%
2014 -0.11% 16.6%
2013 2.78% 36.6%
2012 3.93% 27.3%
2011 4.98% 26.3%
2010 2.97% 10.1%
2009 -0.08% 13.6%
2008 10.4% 25.4%
2007 6.6% 17.3%
2006 4.44% 10%
2005 4.08% 13.4%
2004 3.05% 14.8%
2003 1.33% 16.5%
2002 3.57% 14.3%
2001 5.75% 11.3%
2000 4.02% 14.5%
1999 3.3% 20.1%
1998 8.21% 17.9%
1997 10.6% 17.3%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/estonia/iran | CC BY

Over the past 28 years, Estonia has recorded an average annual inflation rate of 4.46%, compared with 21.6% in Iran. In 2024, inflation was 3.52% in Estonia and 32.5% in Iran.

Top exports between countries

Estonia
Export category Export value
Wood & paper products $567K
Machinery & equipment $384K
Chemicals & pharma $360K
Raw materials & minerals $57K
Textiles & consumer goods $6K
Processed food, beverages & tobacco $4K
Metals $1K
Iran
Export category Export value
Raw agricultural goods $233K
Chemicals & pharma $145K
Textiles & consumer goods $31K
Processed food, beverages & tobacco $18K
Raw materials & minerals $8K
Metals $1K

Balance of trade

Estonia Iran
Current account balance
-$543M
2024
$12.5B
2000
Current account balance ranking
107/190
2024
22/190
2000
Current account balance, % of GDP
-1.26%
2024
+11.4%
2000
Goods imports
$22.1B
2024
$15.2B
2000
Goods exports
$19B
2024
$28.3B
2000
Service imports
$10.4B
2024
$2.3B
2000
Service exports
$13.6B
2024
$1.38B
2000
Imports of goods and services, % of GDP
75.4%
2024
28.5%
2024
Exports of goods and services, % of GDP
75.7%
2024
23.6%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Estonia Iran
Economic freedom 78.7 41.8
Economic freedom ranking 10/197 185/197
Property rights 93.6 20.2
Government integrity 86.3 16.2
Judicial effectiveness 92.4 18.7
Tax burden 77.9 81.3
Government spending 46 94.7
Fiscal health 93.1 83.3
Business freedom 82.8 37.4
Labor freedom 59 41.8
Monetary freedom 73.9 42.2
Trade freedom 79.4 55.8
Investment freedom 90 5
Financial freedom 70 5

Economic freedom comparison by year

Estonia
Iran
1x
Year Economic freedom index
Estonia Iran
2026 78.7 41.8
2025 78.9 42.5
2024 77.8 41.2
2023 78.6 42.2
2022 80 42.4
2021 78.2 47.2
2020 77.7 49.2
2019 76.6 51.1
2018 78.8 50.9
2017 79.1 50.5
2016 77.2 43.5
2015 76.8 41.8
2014 75.9 40.3
2013 75.3 43.2
2012 73.2 42.3
2011 75.2 42.1
2010 74.7 43.4
2009 76.4 44.6
2008 77.9 45
2007 78 45
2006 74.9 45
2005 75.2 50.5
2004 77.4 42.8
2003 77.7 43.2
2002 77.6 36.4
2001 76.1 35.9
2000 69.9 36.1
1999 73.8 36.8
1998 72.5 36
1997 69.1 34.5
1996 65.4 36.1
1995 65.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/estonia/iran | CC BY

The Economic Freedom Index for Estonia is 78.7, ranking 10/197, compared to 41.8 for Iran, ranking 185/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Estonia Iran
Services, % of GDP
65.7%
2024
49.8%
2024
Industry, % of GDP
20.1%
2024
36.1%
2024
Agriculture, forestry, and fishing, % of GDP
1.77%
2024
10.8%
2024
GNI, Atlas method
$39.6B
2024
$469B
2024
GNI per capita, PPP
$48,880
2024
$19,820
2024
Total reserves including gold
$2.07B
2024
$7.69B
1982
Total reserves ranking
125/177
2024
85/177
1982
Net foreign direct investment
-$285M
2024
-$39M
2000
Net inflows of foreign direct investment
-$3.44B
2024
$1.45B
2024
Net outflows of foreign direct investment
-$3.72B
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI n/a
0.08%
2024
Poverty at national poverty lines
22.5%
2022
18.7%
2020
Gross capital formation, % of GDP
24.6%
2024
44.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/estonia/iran | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.