Geopolitical events take a toll on the economy

AA2

MEDIUM RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in October 2022.

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GDP USD36.0bn (World ranking 99, World Bank 2021)
Population 1.3mn (World ranking 155, World Bank 2021)
Form of state Parliamentary Republic
Head of government Kaja Kallas (Prime Minister)
Next elections 2026, 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, 2021)

Exports Rank Imports
Finland 13.9%
1
12.8% Russian Federation
Latvia 9.6%
2
11.2% Finland
United States 9.0%
3
10.0% Germany
Sweden 8.7%
4
7.6% Latvia
Russian Federation 6.4%
5
7.6% Lithuania

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Petroleum, petroleum products and related materials 12.8%
1
11.3% Petroleum, petroleum products and related materials
Telecommunication and sound recording apparatus 8.3%
2
8.9% Road vehicles
Electrical Apparatus 6.2%
3
7.2% Electrical Apparatus
Cork and wood 5.8%
4
4.1% Iron and Steel
Road vehicles 5.5%
5
3.6% Cork and wood
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