ESTONIA

Growth is set to slow but fundamentals remain strong

AA1

LOW RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD30.3bn (World ranking 101, World Bank 2018)
Population 1.32mn (World ranking 153, World Bank 2018)
Form of state Parliamentary Republic
Head of government Juri RATAS (Prime Minister)
Next elections 2021, presidential
  • Low systemic political risk
  • Good regional and international relations (except with Russia), EU membership
  • One of the most open and liberal economies in the world
  • Eurozone membership provides for low transfer and convertibility risk
  • Healthy public finances
  • Strong business environment, supported by stable institutions and an independent judiciary
  • High gross external debt
  • Trade and energy dependence on Russia

Trade structure by destination/origin

(% of total)

Exports Rank Imports
SWEDEN 16%
1
12% Finland
Finland 13%
2
11% Germany
Russian Federation 13%
3
11% Russian Federation
Latvia 9%
4
7% Latvia
Lithuania 5%
5
7% Poland

Trade structure by product

(% of total)

Exports Rank Imports
Telecommunications Equipment 12%
1
12% Refined Petroleum Products
Crude Oil 6%
2
6% Telecommunications Equipment
Electrical Apparatus 6%
3
6% Electrical Apparatus
Refined Petroleum Products 6%
4
4% Cars and Cycles
Non-Edible Agricultural Prod. 4%
5
4% Plastic Articles

Contact

Euler Hermes

Economic Research Team

research@eulerhermes.com

Country Risk Analyst:

Manfred Stamer

manfred.stamer@eulerhermes.com

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