Handelskammer - Land Infoblatt Letztes Update: 15.05.2017
Ihre Berater bei der Handelskammer
- Steven Koener+352423939379
- Diana Rutledge+352423939335
After centuries of Danish, Swedish, German, and Russian rule, Estonia attained independence in 1918. Forcibly incorporated into the USSR in 1940 - an action never recognized by the US - it regained its freedom in 1991 with the collapse of the Soviet Union. Since the last Russian troops left in 1994, Estonia has been free to promote economic and political ties with the West. It joined both NATO and the EU in the spring of 2004, formally joined the OECD in late 2010, and adopted the euro as its official currency on 1 January 2011.
Source: The CIA World Factbook - Estonia
Economic growth is projected to strengthen gradually, boosted by private consumption. Exports and investment will gain some momentum in 2017 as economic activity strengthens in European trading partners. Shortages of skilled labour will push up wages and raise consumer price inflation somewhat.
The government’s fiscal stance is slightly expansionary, but public debt is very low. Reducing the structural surplus further would be appropriate to fund increased growth-enhancing spending, including for education and infrastructure. Aligning energy tax rates across different energy sources more closely and raising them according to their CO2 content would help improve energy efficiency, which is lower than in most OECD countries.
Labour productivity declined in 2015 and is expected to recover only gradually. Improving collaboration in applied research between domestic and foreign institutions, strengthening infrastructure, in particular by expanding access to European transport networks, and shortening corporate insolvency procedures would accelerate productivity growth. Strengthening vocational training would boost the productivity of low-wage workers, thereby making growth more inclusive.
Source: OECD - Economic Forecast
Subject descriptor 2014 2015 2016 2017 2018 Gross domestic product, constant prices 2.906 1.068 1.521 2.504 2.855 Gross domestic product, current prices 26.527 22.704 23.476 24.609 25.900 Gross domestic product per capita, current prices 20,159.953 17,288.083 17,896.465 18,798.417 19,841.212 Inflation, average consumer prices 0.476 0.068 0.495 1.395 1.815 Volume of imports of goods and services 1.400 -1.877 3.563 4.311 4.515 Volume of exports of goods and services 1.711 -1.141 1.848 3.346 3.700 Unemployment rate 7.351 6.104 5.571 5.523 5.396 Current account balance 0.272 0.487 0.136 -0.003 -0.189 Current account balance 1.026 2.143 0.578 -0.011 -0.731
Source: IMF Statistics - Estonia
Luxemburg und das Land
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention and Protocol from 23.05.2006 (Memorial 2006, A, no. 229, p. 4075)
- Effective as of 23.01.2007 (Memorial 2007, A, no. 42, p. 785)
Air Services agreement
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Estonia
Embassy of the Grand Duchy of Luxembourg in Estonia
Ambassador with residence in Prague: Mrs. Michèle PRANCHERE-TOMASSINI
9 Street Apolinarska
CZ - 128 00 PRAHA 2
Tel: +420 257 18 18 00
Fax: +420 257 53 25 37
Economic and Commercial Attaché (AWEX): André VILLERS
Alberta iela 13 (5 th floor)
LV - 1010 RIGA-Latvia
Tel: +371 6 703 93 21
Fax: +371 6 703 93 24
Honorary Consul with jurisdiction over the entire territory of the Republic of Estonia: Mr.Vahur KRAFT
Tel: + 372 628 3210
Country risk as defined by Office du Ducroire for Estonia
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other useful links
- CIA World factbook on Estonia
- Batics newspaper: www.baltictimes.com
- Doing Business in Estonia
- Das ist Estland
- L'Estonie sur le site de l'AWEX
Die Handelskammer und das Land