Estonia

Estonia, a member of the EU since 2004 and the eurozone since 2011, has a modern market-based economy and one of the higher per capita income levels in Central Europe and the Baltic region. Estonia’s successive governments have pursued a free market, pro-business economic agenda, and sound fiscal policies that have resulted in balanced budgets and low public debt.
The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, and Germany. After two years of robust recovery in 2011 and 2012, the Estonian economy faltered in 2013 with only 1.6% GDP growth, mainly due to continuing recession in much of the EU. GDP growth in 2014 was 2.9% but dropped to 1.2% in 2015 due to lower demand in key Scandinavian export markets. GDP growth is expected to be about 2.2% in 2016.
Estonia is challenged by a shortage of labor, both skilled and unskilled, although the government has amended its immigration law to allow easier hiring of highly qualified foreign workers.
$37.55 billion (2015 est.)
$37.15 billion (2014 est.)
$36.1 billion (2013 est.)
note: data are in 2015 US dollars
$22.7 billion (2015 est.)
1.1% (2015 est.)
2.9% (2014 est.)
1.6% (2013 est.)
$28,600 (2015 est.)
$28,200 (2014 est.)
$27,400 (2013 est.)
note: data are in 2015 US dollars
25.9% of GDP (2015 est.)
27.5% of GDP (2014 est.)
27.7% of GDP (2013 est.)
household consumption: 50.6%
government consumption: 20.5%
investment in fixed capital: 26.2%
investment in inventories: -0.4%
exports of goods and services: 89.9%
imports of goods and services: -86.8% (2015 est.)
agriculture: 3.7%
industry: 28.4%
services: 67.9% (2015 est.)
grain, potatoes, vegetables; livestock and dairy products; fish
food, engineering, electronics, wood and wood products, textiles; information technology, telecommunications
3.2% (2015 est.)
669,400 (2015 est.)
agriculture: 3.9%
industry: 28.4%
services: 67.7% (2014)
6.2% (2015 est.)
7.3% (2014 est.)
21.6% (2014 est.)
lowest 10%: 2.7%
highest 10%: 27.7% (2004)
35.6 (2014)
37 (1999)
revenues: $8.757 billion
expenditures: $8.734 billion (2015 est.)
38.2% of GDP (2015 est.)
0.1% of GDP (2015 est.)
10.2% of GDP (2015 est.)
10.6% of GDP (2014 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities, including sub-sectors of central government, state government, local government, and social security funds
calendar year
0.1% (2015 est.)
0.5% (2014 est.)
0.05% (31 December 2013)
0.3% (31 December 2012)
5.1% (31 December 2015 est.)
4.76% (31 December 2014 est.)
$10.09 billion (31 December 2015 est.)
$10.19 billion (31 December 2014 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$14.71 billion (31 December 2014 est.)
$14.05 billion (31 December 2013 est.)
$18.54 billion (31 December 2015 est.)
$20.47 billion (31 December 2014 est.)
$2.034 billion (31 December 2014 est.)
$2.591 billion (31 December 2013)
$2.332 billion (31 December 2012 est.)
$437 million (2015 est.)
$272 million (2014 est.)
$13.44 billion (2015 est.)
$14.96 billion (2014 est.)
machinery and electrical equipment 34%, food products and beverages 9%, mineral fuels 9%, wood and wood products 10%, metals 7%, furniture 9%, vehicles and parts 6%, chemicals 5% (2015 est.)
Sweden 18.8%, Finland 16%, Latvia 10.4%, Russia 6.7%, Lithuania 5.8%, Germany 5.2%, Norway 4.1% (2014)
$14.43 billion (2015 est.)
$16.39 billion (2014 est.)
machinery and electrical equipment 28 %, mineral fuels 11%, food and food products 10%, vehicles 9%, chemical products 8%, metals 8% (2015 est.)
Finland 14.5%, Germany 11.1%, Lithuania 9.4%, Latvia 8.8%, Sweden 8.5%, Poland 7.4%, Russia 5.8%, Netherlands 5.5%, China 4.5% (2014)
$509.8 million (31 December 2015 est.)
$436.8 million (31 December 2014 est.)
$22.95 billion (31 December 2014 est.)
$24.15 billion (31 December 2013 est.)
$26.34 billion (31 December 2015 est.)
$24.99 billion (31 December 2014 est.)
$9.262 billion (31 December 2015 est.)
$9.012 billion (31 December 2014 est.)
kroon (EEK) per US dollar –
0.9227 (2015 est.)
0.7525 (2014 est.)
0.7525 (2013 est.)
0.72 (2011 est.)
LocSiteCompanyDomainSubomainCityFoundedShareholdersCEOSalesProfitAssetsMarket valueEmployees
1Swedbank AS2.023.000.000
2Eesti Energia AS1.506.000.000
3SEB Pank AS828.000.000
4Tallink Grupp AS600.000.000
5Eesti Telekom AS571.000.000
6Ericsson Eesti AS369.000.000
7Vopak E.O.S. AS366.000.000
8Tallinna Sadam AS339.000.000
9Elering AS318.000.000
10Olympic Entertainment Group AS282.000.000
11Viru Keemia Grupp AS259.000.000
12Tallinna Vesi AS238.000.000
13Tallinna Kaubamaja AS216.000.000
14Skinest Grupp AS189.000.000
15E.L.L. Kinnisvara AS175.000.000
16A. Le Coq AS167.000.000
17Riigi Kinnisvara AS152.000.000
18Spacecom AS151.000.000
19ABB AS144.000.000
20PKC Eesti AS143.000.000
21BLRT Grupp AS142.000.000
22Elisa Eesti AS142.000.000
23Eesti Gaas AS138.000.000
24Utilitas OÜ136.000.000
25Tallinna Lennujaam AS135.000.000
26HKScan Estonia AS134.000.000
27Nelja Energia AS129.000.000
28Merko Ehitus AS127.000.000
29If P&C Insurance AS127.000.000
30Graanul Invest AS127.000.000
31Alexela Logistics AS124.000.000
32Eesti Raudtee AS111.000.000
33Vesta Terminal Tallinn OÜ110.000.000
34DNB Pank AS110.000.000
35Henkel Makroflex AS110.000.000
36Rocca Al Mare Kaubanduskeskuse 109.000.000
37Silvano Fashion Group AS104.000.000
38Saint
-
Gobain Glass Estonia SE
101.000.000
39Baltic International Trading OÜ99.000.000
40Fortum Tartu AS99.000.000
41Tele2 Eesti AS92.000.000
42Baltic Maritime Logistics Group AS87.000.000
44Maxima Eesti OÜ86.000.000
45Petromaks Spediitori AS85.000.000
46Eesti Loto AS85.000.000
47Transgroup Invest AS84.000.000
48G4S Baltics AS82.000.000
49Rimi Eesti Food AS82.000.000
50Webinfluence Group AS80.000.000
51Kinnisvaravalduse AS78.000.000
52Kunda Nordic Tsement AS78.000.000
53Nordea Finance Estonia AS77.000.000
54Metaprint AS75.000.000
55Saku Õlletehase AS75.000.000
56Stora Enso Eesti AS75.000.000
57Magnum AS73.000.000
58Bigbank AS73.000.000
59Kodumaja AS72.000.000
60Wett Eesti OÜ68.000.000
61Transiidikeskuse AS66.000.000
62Antonio Trade OÜ66.000.000
63Ensto Ensek AS65.000.000
64Würth AS65.000.000
65Glamox HE AS64.000.000
66Santa Monica Networks Group OÜ63.000.000
67Lenne
63.000.000
68TREV
-
2 Grupp AS
63.000.000
69Starman AS62.000.000
70Silberauto AS61.000.000
71Eesti AGA AS60.000.000
72Lennuliiklusteeninduse AS60.000.000
73Ramirent Baltic AS60.000.000
74Baltic Sea Bunkering OÜ60.000.000
75Krimelte OÜ59.000.000
76ERGO Insurance SE59.000.000
77Skype Technologies OÜ58.000.000
78Orica Eesti OÜ58.000.000
79Järve Kaubanduskeskus OÜ57.000.000
80Statoil Fuel & Retail Eesti AS56.000.000
81Tartu Mill AS55.000.000
82Mecro AS54.000.000
83Neste Eesti AS53.000.000
84Top Connect OÜ53.000.000
85Elme Messer Gaas AS53.000.000
86Leibur AS52.000.000
87Alexela Group OÜ51.000.000
88Pro Kapital Grupp AS51.000.000
89DBT AS50.000.000
90Lemeks AS49.000.000
91JELD
-
WEN Eesti AS
48.000.000
92Norma AS48.000.000
93Eesti Post AS48.000.000
94Mainor Ülemiste AS47.000.000
95Sandmani Grupi AS47.000.000
96Harju Elekter AS47.000.000
97Hebron OÜ45.000.000
98Horizon Tselluloosi ja Paberi AS45.000.000
99Toftan AS45.000.000
100Kymmene Otepää AS45.000.000
101Tamro Eesti OÜ44.000.000
Sources: CIA Fact Book, www.maibaltics.com