Economy in Numbers

20.01.2012

Key Facts

• Currency: from 1 January 2011 Estonia is member of eurozone and the currency in Estonia is euro.
• Estonia became the OECD's 34th member country on 9 December 2010.
• Tax system: 21% flat income tax, reinvested corporate profit is tax free; 20% VAT

International Credit Ratings

• Moody's: A1, outlook stable
• Standard & Poor's: AA-, outlook negative
• Fitch: A+, outlook stable

Key Indicators

* Based on the 2000 Population Census
** Unemployed/labour force according to ILO methodology;
*** Trade figures shown in special trade system
(e) Estimated value

Sources: Population Register, Bank of Estonia, Ministry of Finance, Statistical Office of Estonia, Eurostat

GDP by Main Fields of Economic Activity (as a % of total GDP)

Source: Statistical Office of Estonia

Due to the accession with the European Union, the methodology of macroeconomic statistics changed. The changes concerned the calculation methodology of imputed rent and consumption of fixed capital, and changed also the level of gross domestic product and gross national income in the period 1993–2003.

Main Trade Partners in 2010, as a % of total trade

figures shown in special trade system

Main Exports and Imports in 2010, as a % of total trade

Source: Statistical Office of Estonia

Direct Investment Position in Estonia by Countries

as of 31 December 2010

Source: Bank of Estonia

Estonia's Direct Investment Position abroad by Countries

as of 31 December 2010

Source: Bank of Estonia

Telecommunications and IT

• 76% of population aged 16 to 74 are Internet users (2011, Statistics Estonia).
• 70.8% of households have access to the Internet at home (2011, Statistics Estonia).
• All Estonian schools are connected to the Internet.
• All Estonian towns and villages are covered by the network of public Internet access points.
• There are more than 1 100 free wireless Internet zones around the country. More information: www.wifi.ee
• Incomes can be declared to the Tax and Customs Board via Internet. In 2011, the percentage of electronic tax declarations was 93.
• Expenditures made in state budget can be followed on the Internet in real-time
• The Government has changed Cabinet meetings to paperless sessions using a web-based document system
• All of Estonia is covered with digital mobile phone networks

With its policies and innovative initiatives the Estonian Government is helping companies make the information technology sector one of the fastest growing in the country. The World Economic Forum's Global Information Technology Report 2010-2011 - The Networked Readiness Index, also indicates a strong Estonian standing in government and the community readiness to participate in and benefit from ICT developments: the study ranks Estonia 26th out of 138 countries thanks to its regulatory framework for ICT, making Estonia the leader among the Central and Eastern European countries.

Economic Development Perspectives

Growth and associated factors 2011-2015

* Forecast;
Source: Ministry of Finance, September 2011

A Comparison of Economic Forecasts from Various Institutions 2011-2012

* Harmonised consumer price index
Source: Ministry of Finance, European Commission, Bank of Estonia, IMF, OECD

More about Estonia's economy:

Bank of Estonia
Statistical Office of Estonia
Estonian Chamber of Commerce and Industry
Ministry of Finance
Ministry of Economic Affairs and Communications
Tallinn Stock Exchange
Estonian business information gateway
Enterprise Estonia
Estonian Investment and Trade Agency
Enterprise Estonia (Trade Promotion Services)
Estonian Trade Council
Estonian Development Fund
Estonian Business Association
Transformations in the Estonian economy