Estonian economy at a glance

Key Economic Indicators

  • GDP per capita: €21.600 (2019)
  • Real growth of GDP: 4.3% (2019)
  • Inflation: 2.3% (2019)
  • Unemployment: 7.7% (2020 Q3)
  • Exports: €14.4 billion (2019)
  • Imports: €16.1 billion (2019)
  • Economically active enterprises 133 784 (2019)

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


Credit Ratings

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

 

Standard & Poor’s

Fitch

Moody’s

Estonia

AA-
(outlook positive)

AA-
(outlook stable)

A1
(outlook stable)

Latvia

A+ 

A-

A3

Lithuania

A+

A

A3

Finland

AA+

AA+

Aa1

Russia

BBB-

BBB

Baa3

 

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 

 

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