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Economy of Estonia vs Israel compared: GDP & Debt

Updated on by Georank

Estonia has a GDP of $47B compared to $611B for Israel, ranking 101/197 and 27/197 by economy size, respectively.

Estonia has $11.4B in government debt (24.2% of GDP), compared to $418B (68.5% of GDP) in Israel.

Estonia vs Israel GDP by year

Estonia
Israel
1x
Year GDP, current $
Estonia Israel
2025 $47,030,833,799 $610,777,842,874
2024 $43,130,419,829 $542,284,494,491
2023 $41,470,344,395 $513,393,395,492
2022 $38,226,641,740 $525,157,951,213
2021 $37,201,101,171 $489,735,019,666
2020 $31,820,771,494 $410,908,899,711
2019 $31,873,748,770 $399,207,771,082
2018 $31,222,632,741 $375,470,422,244
2017 $27,469,461,919 $357,360,816,857
2016 $24,561,027,788 $321,083,954,798
2015 $23,311,847,751 $302,841,190,258
2014 $27,055,689,003 $314,376,760,832
2013 $25,451,032,781 $298,045,324,736
2012 $23,237,406,116 $263,172,104,091
2011 $23,303,915,795 $267,739,352,609
2010 $19,524,355,419 $239,372,857,534
2009 $19,633,984,440 $213,112,649,594
2008 $24,342,935,404 $220,952,472,408
2007 $22,450,264,166 $184,448,882,452
2006 $17,025,671,810 $158,706,516,002
2005 $14,109,491,357 $147,346,035,831
2004 $12,148,595,031 $139,925,423,025
2003 $9,876,595,528 $131,278,887,815
2002 $7,370,119,619 $125,215,963,105
2001 $6,250,218,423 $134,889,159,474
2000 $5,686,579,748 $136,409,902,632
1999 $5,756,912,266 $121,329,240,042
1998 $5,674,080,543 $120,468,659,246
1997 $5,154,420,649 $119,389,303,067
1996 $4,786,018,988 $115,051,957,577
1995 $4,502,970,889 $105,432,315,611
1994 $4,123,011,420 $90,684,108,118
1993 $4,013,091,682 $79,806,598,120
1992 - $79,408,652,426
1991 - $70,954,941,681
1990 - $61,978,459,022
1989 - $52,411,116,588
1988 - $52,618,458,014
1987 - $43,022,977,765
1986 - $35,812,041,620
1985 - $28,887,898,639
1984 - $30,626,695,891
1983 - $32,655,591,256
1982 - $29,237,231,967
1981 - $26,865,420,933
1980 - $25,379,585,067
1979 - $22,595,788,591
1978 - $17,690,363,444
1977 - $18,245,847,441
1976 - $15,946,502,888
1975 - $16,131,806,290
1974 - $17,162,009,924
1973 - $11,895,229,181
1972 - $9,216,866,299
1971 - $7,048,191,876
1970 - $7,402,142,195
1969 - $6,293,966,357
1968 - $5,455,059,532
1967 - $4,759,447,914
1966 - $4,700,397,692
1965 - $4,326,412,951
1964 - $4,021,861,430
1963 - $3,533,767,055
1962 - $2,964,323,618
1961 - $3,706,297,903
1960 - $3,068,690,949

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Estonia vs Israel by year

Estonia
GDP per capita

GDP per capita, PPP
Israel
GDP per capita

GDP per capita, PPP
1x
Year Current $
Estonia Israel
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $34,418 - $60,337 -
2024 $31,428 $49,969 $54,217 $57,236
2023 $30,264 $48,637 $52,126 $55,171
2022 $28,340 $48,218 $54,947 $53,619
2021 $27,951 $44,252 $52,258 $46,162
2020 $23,934 $40,672 $44,591 $40,955
2019 $24,021 $40,586 $44,092 $41,325
2018 $23,618 $37,121 $42,269 $40,190
2017 $20,852 $34,507 $41,013 $39,471
2016 $18,666 $31,948 $37,571 $38,189
2015 $17,722 $29,713 $36,138 $35,871
2014 $20,582 $29,404 $38,265 $34,816
2013 $19,310 $27,831 $36,981 $34,827
2012 $17,568 $26,243 $33,269 $32,484
2011 $17,556 $24,652 $34,477 $31,314
2010 $14,664 $21,614 $31,399 $29,456
2009 $14,712 $20,489 $28,470 $28,087
2008 $18,206 $22,804 $30,231 $28,084
2007 $16,745 $22,201 $25,689 $28,307
2006 $12,641 $19,344 $22,500 $26,385
2005 $10,415 $16,638 $21,262 $25,701
2004 $8,916 $14,538 $20,550 $26,078
2003 $7,205 $13,135 $19,624 $24,702
2002 $5,343 $11,667 $19,059 $26,101
2001 $4,503 $10,309 $20,949 $25,806
2000 $4,071 $9,425 $21,690 $25,766
1999 $4,141 $8,412 $19,809 $23,415
1998 $4,093 $8,451 $20,176 $22,927
1997 $3,683 $7,980 $20,457 $22,279
1996 $3,381 $6,892 $20,213 $21,672
1995 $3,134 $6,480 $19,014 $20,642
1994 $2,819 $5,967 $16,796 $19,478
1993 $2,686 $5,814 $15,169 $18,218
1992 - $5,872 $15,500 $17,553
1991 - $7,151 $14,337 $16,486
1990 - $7,481 $13,300 $15,721
1989 - - $11,601 -
1988 - - $11,846 -
1987 - - $9,847 -
1986 - - $8,330 -
1985 - - $6,824 -
1984 - - $7,364 -
1983 - - $7,955 -
1982 - - $7,253 -
1981 - - $6,791 -
1980 - - $6,545 -
1979 - - $5,968 -
1978 - - $4,794 -
1977 - - $5,050 -
1976 - - $4,514 -
1975 - - $4,669 -
1974 - - $5,082 -
1973 - - $3,629 -
1972 - - $2,928 -
1971 - - $2,297 -
1970 - - $2,489 -
1969 - - $2,188 -
1968 - - $1,946 -
1967 - - $1,734 -
1966 - - $1,788 -
1965 - - $1,688 -
1964 - - $1,625 -
1963 - - $1,485 -
1962 - - $1,293 -
1961 - - $1,696 -
1960 - - $1,452 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Estonia's GDP per capita is $34,418, ranking 37/197, compared to $60,337 in Israel, ranking 19/197. Adjusted for purchasing power (GDP per capita PPP), Estonia ranks 45th at $49,969, while Israel ranks 36th at $57,236.

Economic indicators

Estonia Israel
Gross domestic product
$47B
2025
$611B
2025
GDP rank
101/197
2025
27/197
2025
GDP growth
0.58%
2024-2025
2.93%
2024-2025
GDP per capita
$34,418
2025
$60,337
2025
GDP per capita rank
37/197
2025
19/197
2025
GDP per capita, PPP
$49,969
2024
$57,236
2024
GDP per capita PPP rank
45/197
2024
36/197
2024
Government debt
$11.4B
2025
$418B
2025
Debt-to-GDP ratio
24.2%
2025
68.5%
2025
Government debt per person
$8,325
2025
$41,338
2025
Government debt per person rank
67/185
2025
16/185
2025
Average annual personal income after taxes
$23,647
2026
$48,251
2026
Market capitalization of domestic companies n/a
$331B
2024
Number of millionaires n/a
195,000
2026
Number of billionaires
2
2026
42
2026
Income share by richest 10%
23.7%
2023
27%
2022
Income share by poorest 10%
3.1%
2023
1.8%
2022
Government expenditure, % of GDP
45.2%
2025
43.6%
2025
Consumer prices inflation
4.83%
2024-2025
3.04%
2024-2025
Central bank interest rate n/a
3.75%
2026
Unemployment rate
7.5%
2025
3%
2025
Population
1347027
10334048

Spending and national debt comparison by year

Estonia
Spending

Debt
Israel
Spending

Debt
1x
Year % of GDP
Estonia Israel
Government spending Government debt Government spending Government debt
2025 45.2% 24.2% 43.6% 68.5%
2024 43.6% 23.5% 43.7% 67.7%
2023 43.5% 20.2% 39.6% 61.3%
2022 40.1% 19.2% 36.9% 60.3%
2021 42.1% 18.4% 40.1% 67.7%
2020 44.7% 19.1% 44.8% 71.1%
2019 39.1% 9.05% 38.7% 59.3%
2018 38.8% 8.51% 39.2% 60.1%
2017 38.9% 9.43% 38.4% 59.8%
2016 38.9% 10.2% 37.9% 61.7%
2015 39.3% 10.8% 37.6% 62.8%
2014 37.6% 11.6% 38.3% 65.8%
2013 38.3% 11.4% 39.7% 66%
2012 39.4% 11.1% 39.6% 66.9%
2011 37.6% 7.6% 39.3% 67.2%
2010 40.7% 7.99% 39.7% 69%
2009 46.1% 7.98% 41.4% 72.6%
2008 39.5% 4.67% 41.2% 70.2%
2007 33.8% 3.91% 40.2% 70.8%
2006 33.5% 4.72% 41.6% 77.7%
2005 33.7% 4.73% 42.3% 85.2%
2004 34.1% 5.16% 43% 88.3%
2003 35% 5.6% 45.4% 89.7%
2002 35.9% 5.66% 50% 87.2%
2001 35.3% 4.93% 46.1% 81.1%
2000 36.4% 5.11% 43.4% 77.2%
1999 40.7% 5.93% 53.6% 94.8%
1998 38.9% 5.4% 55% 101%
1997 35.8% 6.03% 52.6% 99.3%
1996 38.6% 7.3% 53.2% 100.3%
1995 39.5% 8.66% 52.8% 102.3%
1994 - - 41.7% 110.2%
1993 - - 42.2% 118.3%
1992 - - 44.1% 119.6%
1991 - - 34.4% 123.7%
1990 - - 46.8% 138.3%
1989 - - 47.5% 147.4%
1988 - - 46.5% 145.4%
1987 - - 52.8% 143.2%
1986 - - 55.7% 162.5%
1985 - - 65.2% 199%
1984 - - - 284%
1983 - - - 260.5%
1982 - - 69.7% -
1981 - - 71.8% -
1980 - - 69.4% 154.3%
1979 - - 70.1% 155.5%
1978 - - 62.2% 133.6%
1977 - - 69.1% 142%
1976 - - 66.3% 97.4%
1975 - - 62% 85.1%
1974 - - - 79.8%
1973 - - - 62.1%
1972 - - - 63.9%
1971 - - - -
1970 - - 41.6% -
1969 - - 41.1% -
1968 - - 39.4% -
1967 - - 33.9% -
1966 - - 29.6% -
1965 - - 27.8% -
1964 - - 28.2% -
1963 - - 26.9% -
1962 - - 27.7% -
1961 - - 30.3% -
1960 - - 30.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Estonia's government spending was $21.3B, accounting for 45.2% of its GDP, while Israel spent $266B, or 43.6% of GDP.

Debt-to-GDP ratio is 24.2% in Estonia and 68.5% in Israel, ranking 168/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Estonia

Israel
1x
Year Deficit/surplus, % of GDP
Estonia Israel
2025 -1.33% -5.22%
2024 -1.54% -8.07%
2023 -3.07% -5.38%
2022 -1.08% 0.3%
2021 -2.57% -3.37%
2020 -5.42% -10.6%
2019 -0.11% -3.79%
2018 -1.15% -3.58%
2017 -1.07% -1.17%
2016 -0.62% -1.78%
2015 -0.24% -1.2%
2014 0.42% -2.28%
2013 -0.66% -4.07%
2012 -0.86% -4.46%
2011 0.09% -3.43%
2010 -1.09% -3.72%
2009 -3.43% -6.53%
2008 -2.92% -3.49%
2007 2.5% -0.43%
2006 2.71% -0.94%
2005 1.07% -2.74%
2004 2.29% -3.4%
2003 1.67% -5.03%
2002 0.29% -8.21%
2001 0.4% -4.06%
2000 -0.11% -0.8%
1999 -3.42% -6.26%
1998 0.65% -7.99%
1997 2.98% -4.84%
1996 -0.93% -5.97%
1995 -0.26% -4.28%
1994 - -5.62%
1993 - -5.62%
1992 - -8%
1991 - -7.04%
1990 - -9.67%
1989 - -9.03%
1988 - -7.57%
1987 - -7.47%
1986 - -7.51%
1985 - -14.2%
1984 - -
1983 - -
1982 - -13.8%
1981 - -23.5%
1980 - -19.6%
1979 - -16.7%
1978 - -14.7%
1977 - -20.3%
1976 - -19.4%
1975 - -19.6%
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -16%
1969 - -15.3%
1968 - -11.7%
1967 - -7.68%
1966 - -4.35%
1965 - -2.72%
1964 - -3.65%
1963 - -4.41%
1962 - -4.09%
1961 - -5.86%
1960 - -6.62%
1959 - -7.23%
1958 - -8.31%
1957 - -7.17%
1956 - -9.3%
1955 - -4.3%
1954 - -7.84%
1953 - -8.32%
1952 - -7.19%
1951 - -8.13%
1950 - -10.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08).

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

In 2025, Estonia's government deficit, the difference between spending and revenue, was $626M, equivalent to 1.33% of GDP. This compares to Israel's deficit of $31.9B, or 5.22% of GDP.

Over the past 31 years, Estonia recorded a fiscal deficit in 20 of those years, while Israel ran a deficit in 30 years. On average, Estonia posted an annual deficit equal to 0.54% of GDP, compared to deficit of 4.09% of GDP for Israel.

Inflation comparison by year

Inflation
Estonia

Israel
1x
Year Consumer prices inflation
Estonia Israel
2025 4.83% 3.04%
2024 3.52% 3.07%
2023 9.16% 4.23%
2022 19.4% 4.41%
2021 4.65% 1.48%
2020 -0.44% -0.58%
2019 2.28% 0.82%
2018 3.44% 0.81%
2017 3.42% 0.25%
2016 0.15% -0.54%
2015 -0.49% -0.62%
2014 -0.11% 0.47%
2013 2.78% 1.59%
2012 3.93% 1.68%
2011 4.98% 3.49%
2010 2.97% 2.7%
2009 -0.08% 3.37%
2008 10.4% 4.53%
2007 6.6% 0.47%
2006 4.44% 2.05%
2005 4.08% 1.34%
2004 3.05% -0.42%
2003 1.33% 0.71%
2002 3.57% 5.8%
2001 5.75% 1.12%
2000 4.02% 1.03%
1999 3.3% 5.19%
1998 8.21% 5.49%
1997 10.6% 8.95%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Estonia has recorded an average annual inflation rate of 4.47%, compared with 2.27% in Israel. In 2025, inflation was 4.83% in Estonia and 3.04% in Israel.

Top exports between countries

Estonia
Export category Export value
Processed food, beverages & tobacco $54.5M
Wood & paper products $11.4M
Machinery & equipment $9.74M
Raw agricultural goods $7.79M
Raw materials & minerals $6.26M
Textiles & consumer goods $1.87M
Animal & marine products $1.64M
Metals $1.48M
Chemicals & pharma $1.22M
Precious metals & jewellery $56K
Israel
Export category Export value
Machinery & equipment $10.4M
Chemicals & pharma $2.1M
Raw materials & minerals $1.96M
Textiles & consumer goods $1.32M
Metals $596K
Precious metals & jewellery $226K
Processed food, beverages & tobacco $175K
Wood & paper products $117K
Miscellaneous $33K
Raw agricultural goods $12K

Balance of trade

Estonia Israel
Current account balance
-$70M
2025
$8.53B
2025
Current account balance ranking
79/190
2025
26/190
2025
Current account balance, % of GDP
-0.15%
2025
+1.4%
2025
Goods imports
$24.4B
2025
$102B
2025
Goods exports
$21.2B
2025
$76.2B
2025
Service imports
$12B
2025
$53.2B
2025
Service exports
$15.6B
2025
$92.4B
2025
Imports of goods and services, % of GDP
77.4%
2025
25.4%
2025
Exports of goods and services, % of GDP
78.4%
2025
27.6%
2025

Economic freedom indices

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

Estonia Israel
Economic freedom 78.7 68.4
Economic freedom ranking 10/197 47/197
Property rights 93.6 73.1
Government integrity 86.3 66.2
Judicial effectiveness 92.4 68.1
Tax burden 77.9 60.2
Government spending 46 52
Fiscal health 93.1 60.8
Business freedom 82.8 72.4
Labor freedom 59 56.8
Monetary freedom 73.9 78.2
Trade freedom 79.4 82.8
Investment freedom 90 70
Financial freedom 70 80

Economic freedom comparison by year

Estonia
Israel
1x
Year Economic freedom index
Estonia Israel
2026 78.7 68.4
2025 78.9 69.9
2024 77.8 70.1
2023 78.6 68.9
2022 80 68
2021 78.2 73.8
2020 77.7 74
2019 76.6 72.8
2018 78.8 72.2
2017 79.1 69.7
2016 77.2 70.7
2015 76.8 70.5
2014 75.9 68.4
2013 75.3 66.9
2012 73.2 67.8
2011 75.2 68.5
2010 74.7 67.7
2009 76.4 67.6
2008 77.9 66.3
2007 78 64.8
2006 74.9 64.4
2005 75.2 62.6
2004 77.4 61.4
2003 77.7 62.7
2002 77.6 66.9
2001 76.1 66.1
2000 69.9 65.5
1999 73.8 68.3
1998 72.5 68
1997 69.1 62.7
1996 65.4 62
1995 65.2 61.5

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Estonia is 78.7, ranking 10/197, compared to 68.4 for Israel, ranking 47/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Estonia Israel
Services, % of GDP
65.8%
2025
72.8%
2024
Industry, % of GDP
19.7%
2025
17.2%
2024
Agriculture, forestry, and fishing, % of GDP
1.65%
2025
1.29%
2024
GNI, Atlas method
$44.2B
2025
$569B
2025
GNI per capita, PPP
$51,370
2025
$58,870
2025
Total reserves including gold
$2.44B
2025
$229B
2025
Total reserves ranking
124/177
2025
18/177
2025
Net foreign direct investment
$814M
2025
-$11.8B
2025
Net inflows of foreign direct investment
-$3.44B
2024
$14.8B
2024
Net outflows of foreign direct investment
-$3.72B
2024
$9.92B
2024
Poverty at national poverty lines
22.5%
2022
22%
2020
Gross capital formation, % of GDP
24.8%
2025
24.3%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

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.

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.