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.
Swipe to view more
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 |
![]() |
Latvia
9.6%
![]() |
2 |
![]() |
United States
9.0%
![]() |
3 |
![]() |
Sweden
8.7%
![]() |
4 |
![]() |
Russian Federation
6.4%
![]() |
5 |
![]() |
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
|
Contacts
Read our latest reports
-
Americas
-
Europe
-
Asia Pacific
-
Middle East
-
Africa