Makrognosis

Estonia Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:EE

Model score76 / 1009 Nov 2026
Grade equivalentAmodel-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank26th of 84economies scored

Makrognosis sovereign credit model scores Estonia at 76 out of 100 as of 9 November 2026, equivalent to A on the familiar letter scale — investment grade.

The score is down 0.2 points from 77 on 1 October 2026.

That places Estonia 26th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 26.1% of GDP, a fiscal balance of −2.0% of GDP, a current account balance of 0.3% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Estonia sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 202675808590Robomacro
Estonia sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202676.5A
1 October 202676.7A
31 July 202676.7A
30 July 202676.6A
26 July 202675.6A
21 June 202681.9A+
18 June 202688.8AA
Get the Estonia sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/EE"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/EE",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Estonia, from official national and international statistics.

InputValueVintage
GDP per capitaUS$35,1002026
Real GDP growth, 5-year average1.5%2026
Inflation, recent average3.2%2026
Government debt26.1% of GDP2026
Fiscal balance−2.0% of GDP2026
Current account balance0.3% of GDP2026
Foreign-exchange reserves0.7 months of imports2026
Net international investment position−3.3% of GDP2026
Governance (World Bank WGI composite)1.332026

How Estonia compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
21Singapore9 Nov 202682
22Jamaica9 Nov 202680
23Belgium9 Nov 202680
24Hong Kong9 Nov 202678
25Spain9 Nov 202678
26Estonia9 Nov 202676
27Italy9 Nov 202676
28Uruguay9 Nov 202675
29Portugal9 Nov 202675
30Poland9 Nov 202673
31Czech Republic9 Nov 202672
32Chile9 Nov 202671

All 84 economies ranked →

Estonia economic indicators

Estonia GDP (Gross Domestic Product)Estonia Gross domestic product, Current prices, million EUREstonia Inflation Rate (CPI)Estonia Core Inflation RateEstonia Unemployment RateEstonia 10-Year Government Bond YieldEstonia Industrial ProductionEstonia Retail SalesEstonia Producer Price Inflation (PPI)Estonia Current account balance (BPM6, vs rest of world), not seasonally adjustedEstonia Current account balance, % of GDPEstonia Trade Balance: Goods & ServicesEstonia Exports of goods and services, Current prices, million EUREstonia Exports of goods and services, chain-linked volumeEstonia Exports of goods, total trade (World), seasonally adjustedEstonia Imports of goods and services, Current prices, million EUR

FAQ

What is Estonia's credit rating?
Makrognosis sovereign credit model scores Estonia at 76/100 as of 9 November 2026, equivalent to A (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/EE returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.