In January of 2011, Estonia became a member of the euro zone and they adopted the Euro as Estonia’s official currency. Some economic statistics are shown below in the table.
2009 | 2010 | 2011* | 2012* | 2013* | |
GDP in billions (euros) | 13,8 | 14,3 | 16,0 | 17,0 | 18,1 |
Real growth of GDP in percentage. | -14.3 | 2.3 | 7.0 | 3.0 | 3.3 |
GDP per capita at current prices in (euros) | 10.326 | 10.674 | |||
Unemployment rate in percentage | 13.8 | 16.9 | 12.7 | 11.1 | 9.1 |
Export in billions (euros) | 6.481 | 8.747 | |||
Import in billions (euros) | 7.271 | 9.245 |
Country | Euros (millions) | Percentage |
Sweden | 4327.9 | 35.3% |
Finland | 2853.7 | 23.3% |
Netherlands | 1096.7 | 8.9% |
Russia | 438.4 | 3.6% |
Norway | 357.4 | 2.9% |
Direct investment position in Estonia (as of 31st December 2010)
Estonia belongs to the ten most liberal economies in the world. In 2006 the World Bank classified Estonia as an upper-middle income economy switched to a high-income economy. This means in Estonia it’s way easier to get construction permits then in the other Baltic States countries.
(Source: [1])
An other important fact about the Estonian economy that it has the Euro. The Euro permit that Estonia has a stable economy (stable prices, job creation…). In addition, Estonia has risen to the rank to one of the main investors destination.
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