Estonia is a frontrunner in alternative finance and a host to some of the most innovative Fintech start-ups in the OECD – i.e. start-ups using technology and technology-facilitated new business models in the provision of financial services.
Estonia is highly integrated into the global trade system: it exports approximately 80% of GDP and around half of domestic employment is sustained by foreign demand.
Since the crisis, Estonia has experienced one of the most pronounced declines in the ratio of non-residential investment to GDP in the OECD.
International trade plays an important role in the Estonian economy. Around a half of the private sector employment is sustained by foreign demand, twice as much as the OECD average.
Estonian growth is picking up again strongly in 2017 and the level of activity has finally surpassed its pre-crisis level, almost 10 years after the outset of the financial crisis. However, poverty remains among the highest in the OECD.
After two years of relatively weak activity, GDP growth has gained momentum and is expected to exceed 4% in 2017. Progress in raising incomes towards those in more prosperous OECD economies is likely to resume, after having slowed almost to a halt.
English, PDF, 110kb
This country note from Going for Growth 2017 for Estonia identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
English, PDF, 97kb
This country note from Going for Growth 2015 for Estonia identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
The underlying strengths of the Estonian economy have helped it bounce back from the crisis, but some challenges remain to finding a steeper, more inclusive and more sustainable growth path, according to the latest OECD Economic Survey of Estonia.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.