Estonian economy at a glance

According to Statistics Estonia, net exports reached 980 million euros in 2017, which is 4.3% of the GDP. This is the largest share in the GDP in six years.
The Estonian economy grew by 5.0% compared to the 4th quarter of 2016. The seasonally and working-day adjusted GDP grew by 2.2% compared to the previous quarter and by 5.3% compared to the 4th quarter of 2016.

Key Economic Indicators

  • GDP at current prices: €23 billion (2017)
  • Annual FDI: €653 million (2017)
  • FDI stock: €19.3 billion (2017)
  • Unemployment (ILO): 5.8% (2017)
  • Exports: €12.9 billion (2017)
  • Imports: €14.8 billion (2017)
  • GDP per capita: €17.463 (2017)

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


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 positive)

A1
(outlook stable)

Latvia

Positive

A-

A3

Lithuania

A-

A-

A3

Finland

AA+

AAA

Aa1

Russia

BBB-

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