General overview of Estonian economy

Table of Contents

  • General

    Before the last economic crisis, the Estonian economy was growing very quickly. But as in many other countries, after the economic crisis of 2008-2009, the ...
    Read more »

  • Structure of the economy

    More than 71% of the Estonian GDP is derived from the service sectors, industrial sectors yield 25% and primary branches (including agriculture) approximately 4% of ...
    Read more »

  • Agriculture and forestry

    Just a couple of generations ago agriculture was the main occupation of the Estonians. Nowadays only about 3% of the workforce is engaged in agriculture ...
    Read more »

  • Processing industry

    The most important branch among processing industries in Estonia is mechanical industry (about 25% of manufacturing production); timber and paper industry are next in importance ...
    Read more »

  • Transit and transport

    A widespread preconception, especially in Russia, holds that the Estonian economy depends largely on Russian transit. The reality is different — freight traffic between Russia and ...
    Read more »

  • Tourism

    About 4 million tourists visit Estonia every year, the majority of them come Finland and stay for a short period — morning (night) trip from Helsinki ...
    Read more »

  • Trade and services

    ​The Soviet deficit economy was quickly followed by the growth of commerce and service in Estonia; a lot of things hadn’t been available before ...
    Read more »

  • Estate sector

    As a result of privatization, most living spaces went to individuals and that’s why there are very few city-owned properties in Estonia. An Estonian ...
    Read more »

  • Information technology and telecommunications

    ​This is without doubt one of the fields that has had the fastest growth in the last ten or fifteen years in Estonia, and also ...
    Read more »

  • Labour market

    Employment
    64% of the Estonian labour force is occupied in various branches of the services sector, approximately 32% is occupied in industry and the remaining ...
    Read more »

  • Prices and inflation

    Although the average price level in Estonia is much lower than that of the developed countries, it is one of the highest in the Central ...
    Read more »

  • Foreign trade

    The Estonian economy is an open one – in addition to active trading, lots of foreign entrepreneurs are operating here; Estonian enterprises are among the most ...
    Read more »

  • Imports

    The percentage of services in Estonia's import is about 18% and various transport as well as travel services are the main import articles. As ...
    Read more »

  • Exports

    The export of Estonian goods and services exceeds 90% of GDP, and services constitute around a third of all exports.

    In particular, various transport services ...


    Read more »

  • Foreign investment

    There are several reasons why foreign investors have invested into Estonia and continue to do so.

    • Their investments have earned quite a nice profit in ...


    Read more »

  • Monetary and financial system

    ​Since 2011, Estonia has been a member of the euro zone. Before that, the Estonian kroon was the local currency. Estonia joined the euro zone ...
    Read more »

  • Banks

    Swedbank is the biggest bank in Estonia, followed by SEB Pank, Nordea Pank and Danske Pank, which in Estonia is named “Sampo”. Actually, the last ...
    Read more »

  • Other financial establishments and services

    Using Insurance Services is relatively uncommon in Estonia, with the exception of mandatory traffic insurance. The growth in insurance is mostly impeded by the poor ...
    Read more »

  • State finances and economic policy

    Estonia's governments have usually pursued balanced budgets, so the state budget has been more or less in balance, and at times there have even ...
    Read more »