Estonian economy at a glance

According to Statistics Estonia, in 2015 the exports of goods from Estonia at current prices totalled 11.6 billion euros and imports 13.1 billion euros. In 2015, exports of goods decreased by 4% and imports by 5% compared to 2014.

In 2015, 79% of Estonia’s total trade was with EU member countries. Estonia’s main trade partners are Finland, Sweden, Latvia and Germany.

Key Economic Indicators

  • GDP at current prices: €20.5 billion (2015)
  • FDI position: €17.3 billion (2015)
  • FDI position per capita: €13.3 billion (2015)
  • Unemployment (ILO): 7.5% (2016 IIIq)
  • Exports: €11.6 billion (2015)
  • Imports: €13.1 billion (2015)
  • GDP per capita: €15.589 (2015)

Considerations for the investor:

  • starting a business is easy
  • taxation is simple and transparent
  • trading across borders is active
  • communication is easy
  • flexible job regulation

Development of Estonian Economy (GDP growth %)

Development of Estonian Economy (GDP growth %)


Credit Ratings

Estonia has some of the highest international credit ratings in the region.
 

 

Standard & Poor’s

Fitch

Moody’s

Estonia

AA-/A-1+
(outlook stable)

A+
(outlook stable)

A1
(outlook stable)

Latvia

A-

A-

A3

Lithuania

A-

A-

A3

Finland

AA+

AA+

Aa1

Russia

BB+

BBB-

Ba1

 

Cornerstones of Economic Success

  • Monetary reform – currency board arrangement since 1992.
  • Privatisation – completed, some infrastructure companies in state ownership.
  • Liberal foreign trade regime – market is open for all competition.
  • Modern tax system – motivating, transparent, simple, flat income tax with 0% on reinvested profits.


Useful Links:

Bank of Estonia: www.eestipank.ee
Statistics Estonia: www.stat.ee
Ministry of Foreign Affairs: www.vm.ee
Ministry of Economic Affairs and Communications: www.mkm.ee
Ministry of Finance: www.fin.ee
NASDAQ OMX Tallinn Stock Exchange: www.nasdaqomxbaltic.com
Estonian Chamber of Commerce and Industry: www.koda.ee
Enterprise Estonia: www.eas.ee
Estonian Investments and Trade Agency: www.investinestonia.com; www.tradewithestonia.com
Estonian Trade: www.estoniantrade.ee
Doing Business in Estonia: www.doingbusiness.org
Estonian Export: www.estonianexport.ee