Follow us on

Chamber of Commerce Country Factsheet Last update: 12.08.2021

Your advisors at the Chamber of Commerce

  • Steven Koener
Contact us:

Key Indicators

45,228 km2
1,220,042 (July 2021 est.)
Government type
parliamentary republic
Estonian (official) 68.5%, Russian 29.6%, Ukrainian 0.6%, other 1.2%, unspecified 0.1% (2011 est.)
$31.03 billion (2020 est.)
Growth rate
-2.9% (2020 est.)



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 and many other countries - 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


Macroeconomic indicators

Economic growth will remain solid, but slow to 3.7% in 2018 and 3.2% in 2019 as labour resources become scarcer. Private consumption is projected to strengthen, boosted by personal income tax reductions and wage growth. Investment is projected to continue to support activity. Improved euro area growth will stimulate exports despite increases in unit labour costs.

The fiscal stance is broadly neutral in 2018 and will be mildly expansionary in 2019. While this is appropriate given accommodative euro area monetary policy, fiscal space is available to foster inclusive growth and address societal issues once risks of overheating ease. Measures to support innovative activities in domestic firms and improve access to lifelong education should be prioritised.

Source: OECD - Economic Forecast

IMF Statistics:

Subject descriptor20182019202020212022
Gross domestic product, constant prices
Percent change
Gross domestic product, current prices
U.S. dollars (Billions)
Gross domestic product per capita, current prices
U.S. dollars (Units)
Inflation, average consumer prices
Percent change
Volume of imports of goods and services
Percent change
Volume of exports of goods and services
Percent change
Unemployment rate
Percent of total labor force
Current account balance
U.S. dollars (Billions)
Current account balance
Percent of GDP
Colored cells are estimates

Source: IMF Statistics - Estonia


Luxembourg and the country

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 from 23.05.2006 (Memorial 2006, A no.229, p.4075)
  • Effective as of 01.01.2008 (Memorial 2006, A no.229, p.4075)
  • Protocol to Amend the Convention from 07.07.2014 (Memorial 2015, A no.232, p.5060)
  • Law from 05.02.2016
  • Effective as of 01.01.2016

Air Services agreement


Source: Administration des contributions directes


Further information

Foreign Trade

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: Mr Gérard PHILIPPS
9 Apolinarska Street
CZ - 128 00 PRAHA 2

Tel.: +420 257 18 18 00
Fax: +420 257 53 25 37
E-Mail: prague.amb(at) 

Honorary Consul

Honorary Consul with jurisdiction over Estonia:

Mr Nils Per Anders HEDMAN

Pikk 9
EE-10123 Tallinn

Tel.: (+37) 26 44 69 00
E-Mail: consul.lux.tallinn(at)

Competent post for consular affairs the Embassy of the Kingdom of Belgium in Helsinki

Source: Ministry of Foreign Affairs of Luxembourg


Economic and Commercial Attaché (AWEX) in charge of Estonia

Economic and Commercial AttachéMr Jean-Philippe SCHKLAR  

Alberta iela 13 (5th floor)
LV - 1010 RIGA-Latvia

Tel.: +371 6 703 93 21
E-Mail: riga(at) 

Source: AWEX


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


The Chamber of Commerce and the country

No related events to this country