Estonia: Gross fixed capital formation (constant 2015 US$)

Key figures

What the numbers say

In 2025, Estonia's gross fixed capital formation (constant 2015 US$) rose 3.2% on 2024 (from US$7.84 billion to US$8.09 billion).

Across the 30 yearly changes before that (1995 to 2024), the average change was +7% and a typical year strayed about 14.8% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 35.6% in 2011 and the biggest yearly fall was 37.2% in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about US$205.23 million a year. A straight line explains 32% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Estonia had the 78th highest value of the 123 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Estonia in the 2025 ranking

• Nepal — 75th of 123: US$9.49 billion
• Cameroon — 76th of 123: US$9.09 billion
• Tunisia — 77th of 123: US$8.87 billion
• Libya — 79th of 123: US$7.95 billion
• El Salvador — 80th of 123: US$7.81 billion
• Latvia — 81st of 123: US$7.73 billion

What this measures

Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 33 values

Gross fixed capital formation (constant 2015 US$) in nearby economies

• Albania — US$4.56 billion (2025)
• Armenia — US$4.5 billion (2025)
• Austria — US$98.72 billion (2025)
• Belarus — US$16.63 billion (2025)
• Belgium — US$129.57 billion (2025)
• Bosnia and Herzegovina — US$5.75 billion (2024)
• Bulgaria — US$14.74 billion (2025)
• Croatia — US$18.16 billion (2025)
• Cyprus — US$6.43 billion (2025)
• Czechia

More economic policy & debt data for Estonia

• Adjusted savings, education expenditure (% of GNI) — 4.76% (2021)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• Adjusted savings, energy depletion (current US$) — US$274.52 million (2021)
• Net financial flows, IBRD (NFL, current US$) — US$0 (2016)
• GDP (current LCU) — 41.62 billion (2025)
• GDP, linked series (current LCU) — 41.62 billion (2025)
• GDP (constant 2015 US$) — US$27.72 billion (2025)
• GDP (constant LCU) — 29.11 billion (2025)
• GDP, PPP (current international $) — 71.2 billion (2025)
• GDP, PPP (constant 2021 international $)

Reading data like this

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Questions people ask

What is Estonia's gross fixed capital formation (constant 2015 US$)?

US$8.09 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1993?

It is up 522.17% from US$1.3 billion in 1993 (5.88% a year on average, compounded). The highest value was US$9.58 billion in 2021 and the lowest US$1.3 billion in 1993.

How does Estonia rank?

78th highest of 123 economies with data for 2025.

Is the latest change in gross fixed capital formation (constant 2015 US$) unusual for Estonia?

In 2025, Estonia's gross fixed capital formation (constant 2015 US$) rose 3.2% on 2024 (from US$7.84 billion to US$8.09 billion). Across the 30 yearly changes before that (1995 to 2024), the average change was +7% and a typical year strayed about 14.8% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NE.GDI.FTOT.KD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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