General overview of Estonian economy

Table of Contents

  • General

    In spite of the rapid economic growth of the last 5-6 years, Estonia is still not half as wealthy as the Western European countries.
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  • Structure of the economy

    More than 67% of the Estonian GDP is derived from the service sectors, industrial sectors yield over 28% and primary branches (including agriculture) approximately 5 ...
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  • Agriculture

    Just a couple of generations ago agriculture was the main occupation of the Estonians. Nowadays only about 4% of the workforce is engaged in agriculture ...
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  • Processing industry

    The most important branch among processing industries in Estonia is timber, paper and furniture industry. Second comes the food processing industry, mostly in the form ...
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  • Subcontracting and own production

    As economic changes had only started, Estonian enterprises engaged in subcontracting for foreign companies. Subcontracting was especially widespread in the light industry, where local companies ...
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  • Tourism

    About 3.4 million tourists visit Estonia every year, the majority of them come Finland and stay for a short period — morning (night) trip from ...
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  • Estate sector

    In Estonia, predicting the crash of the estate business and claiming the impossibility thereof has become a popular pastime — during the last decade the estate ...
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  • Labour market

    About 59% of the Estonian labour force is occupied in various branches of the services sector, approximately 35% is occupied in industry and the ...
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  • 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 ...
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  • 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 ...
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  • Import

    The percentage of services in Estonia's import is slightly over one fifth and various transport as well as travel services are the main import ...
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  • Foreign investment

    There are several reasons why foreign investors have invested into Estonia and continue to do so. They have made a nice profit in Estonia. Estonia ...
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  • Monetary and financial system

    Estonia's currency is the kroon, which was introduced as a result of the Read more »

  • Banks

    The six registered banks in Estonia include Hansapank, Ühispank, Sampo Bank, Äripank, Krediidipank and SBM Bank. The branch of the Finnish Nordea Bank can also ...
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  • Insurance

    In Estonia there are 8 insurance companies which offer both property and life insurance. Using insurance services is not yet too widespread in Estonia, compulsory ...
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  • State finances

    During the recent years Estonia's state budget has been in surplus – revenue has exceeded expenditure. Revenue and expenditure have been expected to be equal ...
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