Estonia

Description of Estonia

Estonia, a small Baltic country known for its digital advancement and resilient economy, has emerged as a shining example of successful post-Soviet transition. With a strong focus on innovation and technology, Estonia has rapidly transformed itself into a dynamic and forward-thinking nation. From its efficient e-governance systems to its thriving startup ecosystem, Estonia continues to impress the world with its progressive policies and high living standards. Let's delve deeper into the macroeconomic indicators and geopolitical landscape that shape Estonia's development and position in the global arena.

Population And Age Structure

Population, total: Estonia has a total population of 1,329,522. This is significantly below the average total population of 40,097,746. Estonia ranks 151 out of 194 countries in terms of total population.

Population ages 0-14 (% of total population): In Estonia, 16.47% of the population falls within the 0-14 age group. This is lower than the average of 27.34%. Estonia ranks 155 out of 194 countries in this age group distribution.

Population ages 0-14, total: The total number of individuals aged 0-14 in Estonia is 218,916. This is notably lower than the average total of 10,327,380. Estonia ranks 158 out of 194 countries in this category.

Population ages 15-64 (% of total population): 63.35% of Estonia's population belongs to the 15-64 age group, which is very close to the average of 63.44%. Estonia's rank in this category is 119 out of 194 countries.

Population ages 15-64, total: Estonia has 842,292 individuals in the 15-64 age group, much lower than the average of 26,003,407. Estonia ranks 153 out of 194 countries in this age group.

Population ages 65 and above (% of total population): The elderly population (65 and above) in Estonia accounts for 20.18% of the total population, significantly higher than the average of 9.22%. Estonia ranks 14 out of 194 countries in this age group distribution.

Population ages 65 and above, total: Estonia has 268,313 individuals aged 65 and above. This is below the average total of 3,766,959. Estonia ranks 129 out of 194 countries in this category.

Summary

Estonia has a relatively small total population, with a lower proportion of children aged 0-14 and a higher proportion of elderly individuals aged 65 and above compared to global averages. The country also has fewer individuals in the working-age group (15-64) compared to the average. These demographic indicators are crucial as they impact various aspects of the economy such as workforce dynamics, healthcare needs, social security systems, and overall economic productivity.

Population Miscellaneous

1. Rural population in Estonia is 409,107, significantly below the attribute average of 18,044,041. Estonia ranks 152 out of 190 countries in this category.

2. Rural population (% of total population) in Estonia is 30.771%, lower than the average of 41.158%. Estonia ranks 120 out of 190 countries in this regard.

3. Urban population in Estonia stands at 920,415, well below the attribute average of 22,425,747. Estonia ranks 148 out of 194 countries for urban population.

4. Urban population (% of total population) is 69.229% in Estonia, above the average of 59.691%. Estonia ranks 75 out of 194 countries for this metric.

5. The age dependency ratio in Estonia is 57.85%, slightly below the average of 59.22%. Estonia ranks 76 out of 194 countries in this aspect.

6. Estonia has a crude birth rate of 9.9 per 1,000 people, lower than the average of 19.38. The country ranks 158 out of 192 countries for this statistic.

7. The crude death rate in Estonia is 11.9 per 1,000 people, higher than the average of 8.21. Estonia ranks 24 out of 192 countries based on this metric.

8. Estonia's total fertility rate is 1.58 births per woman, below the average of 2.60. The country ranks 142 out of 190 countries for fertility rate.

Summary

Estonia exhibits a unique demographic profile with a lower rural population and a higher urban population compared to global averages. The country also has a lower age dependency ratio, indicating a relatively balanced population structure. However, Estonia's low crude birth rate and total fertility rate, along with a higher crude death rate, may pose challenges in terms of sustaining population growth and ensuring a robust labor force for economic development.

Military

1. Military expenditure (current USD): Estonia's military expenditure of $718,112,390.29 is significantly below the average of $12,904,993,617.17. This places Estonia at a ranking of 76 out of 149 countries in terms of military expenditure.

2. Military expenditure (% of GDP): Estonia's military expenditure as a percentage of GDP is 2.29%, which is higher than the average of 1.90%. Estonia ranks 35th out of 148 countries in this aspect.

3. Arms imports (SIPRI trend indicator values): Estonia's arms imports amount to $25,000,000, significantly lower than the average of $205,522,123.89. Estonia holds the 68th rank out of 113 countries in arms imports.

4. Armed forces personnel, total: Estonia has a total of 7,000 armed forces personnel, much lower than the average of 165,908.54 personnel. Estonia's rank is 141 out of 164 countries in total armed forces personnel.

5. Armed forces personnel (% of total labor force): Estonia's armed forces personnel as a percentage of the total labor force is 0.99%, below the average of 1.28%. Estonia is ranked 67th out of 164 countries in this metric.

Summary

Estonia's military expenditure is notably below the global average in both total spending and as a percentage of GDP. The country also has a lower than average arms import value and a significantly smaller number of armed forces personnel compared to the global average. These indicators suggest that while Estonia maintains a military presence, it does so with a conservative fiscal approach and a smaller force size relative to other nations. This allocation of resources may reflect Estonia's strategic priorities in national defense and overall budgetary constraints.

Natural Resources

- Estonia's forest area covers 24,384 sq. km, below the average of 211,606. Estonia ranks 99 out of 191 countries in this data set.
- The land area in Estonia is 42,750 sq. km, which is also below the average of 665,166 sq. km. It ranks 129 out of 194 countries.
- Estonia's surface area is 45,340 sq. km, below the average of 689,779 sq. km. It ranks 129 out of 194 countries.
- The arable land in Estonia spans 694,000 hectares, significantly below the average of 7,329,543 hectares. It ranks 118 out of 190 countries.
- Estonia has 370,120 hectares of land under cereal production, below the average of 4,206,011 hectares. It ranks 104 out of 174 countries.
- The average annual precipitation in Estonia is 626 mm, below the average of 1,157.83 mm. It ranks 124 out of 178 countries.
- Estonia's total renewable internal freshwater resources are 12.71 billion cubic meters, notably below the average of 240.41 billion cubic meters. It ranks 114 out of 178 countries.

Summary

Overall, Estonia's land area, forest area, arable land, cereal production, average annual precipitation, and total renewable internal freshwater resources are below the global averages. While this may indicate limitations in natural resources, it also highlights Estonia's potential for sustainable development and efficient resource management. By focusing on innovative agricultural practices and environmental conservation efforts, Estonia can leverage its unique position to enhance resilience and growth in the face of changing global dynamics.

Resource Rents

1. Total natural resources rents (% of GDP): Estonia's value for this attribute is 1.43%, which is below the average of 4.63%. The country is ranked 90 out of 175 countries in this dataset.

2. Forest rents (% of GDP): Estonia's value for forest rents is 0.95% of GDP, lower than the average of 1.53%. The country holds the 57th rank out of 174 countries.

3. Oil rents (% of GDP): Estonia's value for oil rents stands at 0.48% of GDP, significantly lower than the average of 2.51%. Estonia ranks 43rd out of 117 countries in this aspect.

Summary

Estonia's total natural resources rents account for 1.43% of its GDP, below the global average of 4.63%, positioning it at the 90th rank internationally. The country's forest rents and oil rents are also below average at 0.95% and 0.48% of GDP, respectively. These statistics indicate that Estonia may have untapped potential in maximizing the economic benefits from its natural resources compared to other nations, which could impact its long-term economic development and competitiveness.

Commodities

In terms of Cereal production, Estonia produces 1,632,790 metric tons, which is significantly below the average production of 17,249,945.92 metric tons. Estonia ranks 95th out of 174 countries in this category.

Estonia's Aquaculture production is 1,090.15 metric tons, much lower than the average production of 679,642.92 metric tons. Estonia ranks 123rd out of 180 countries in this aspect.

For Capture fisheries production, Estonia produces 74,142.44 metric tons, falling below the average of 467,453.06 metric tons. Estonia ranks 82nd out of 190 countries in this domain.

In Total fisheries production, Estonia produces 75,232.59 metric tons, considerably less than the average production of 1,153,914.85 metric tons. Estonia ranks 89th out of 182 countries in this sphere.

In terms of Fertilizer consumption, Estonia consumes 94.78 kilograms per hectare of arable land, which is below the average of 159.04 kilograms. Estonia is ranked 93rd out of 187 countries based on fertilizer consumption.

Summary

Estonia's agricultural and fisheries production levels are notably below the global averages, impacting its ranking among other countries. Its low fertilizer consumption per hectare of arable land also places it below the average compared to other nations. These indicators reveal Estonia's potential for growth and efficiency improvements in its agricultural and fisheries sectors, highlighting the importance of enhancing productivity and sustainability practices to compete effectively on a global scale.

Intellectual Property

The number of Industrial design applications by nonresidents in Estonia is significantly below the average of 1415.83, ranking 71 out of 112 countries. For Industrial design applications by residents, Estonia's figure is also well below the average of 9799.58, ranking 81 out of 113 countries.

When it comes to Patent applications by nonresidents, Estonia's value is notably lower than the average of 6538.40, ranking 125 out of 129 countries. In terms of Patent applications by residents, Estonia's figure is also below the average of 19037.56, ranking 90 out of 117 countries.

For Trademark applications by nonresidents, Estonia's count of 2668 is lower than the average of 15878.93, ranking 96 out of 130 countries. In the case of Trademark applications by residents, Estonia's count of 2865 is notably lower than the average of 111055.78, ranking 76 out of 129 countries.

Estonia's number of Scientific and technical journal articles is below the average of 15103.76, ranking 72 out of 192 countries. Regarding Charges for the use of intellectual property (payments), Estonia's value is substantially below the average of $3.22 billion, ranking 80 out of 143 countries.

Similarly, for Charges for the use of intellectual property (receipts), Estonia's figure of $20.54 million is well below the average of $3.19 billion, ranking 57 out of 122 countries. Finally, when considering Researchers in R&D per million people, Estonia's value of 3835.72 is above the average of 2556.45, ranking 22 out of 72 countries.

Summary

Estonia ranks below average in various key macroeconomic indicators such as industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and intellectual property charges. This suggests a lower level of innovation and intellectual property activity compared to the global average, indicating potential challenges in the country's competitiveness and economic growth. It underscores the importance for Estonia to focus on boosting innovation, research and development, and intellectual property activities to enhance its global standing and drive economic progress.

Broad Economy Attributes

- Estonia's GDP (current US$) is 31370395572.7658, which is below the average of 442870224838.6818. It ranks 98 out of 189 countries in the data set.
- Estonia's GDP, PPP (current international $) is 53309152526.5816, also below the average of 734141122350.7834. It ranks 106 out of 181 countries.
- Estonia's GDP per capita (current US$) stands at 23595.2436836441, surpassing the average of 15462.110490032519. It ranks 39 out of 190 countries.
- Estonia's GDP per capita, PPP (current international $) is 40096.4801835409, notably above the average of 21251.891197051147. It ranks 36 out of 181 countries.
- Estonia's GNI (current US$) is 30896975845.1363, below the average of 452040815370.6972. It ranks 96 out of 185 countries.
- Estonia's GNI, PPP (current international $) stands at 52504648662.078, also below the average of 730698223823.4666. It ranks 103 out of 181 countries.
- Estonia's GNI per capita, PPP (current international $) is 39490, exceeding the average of 20615.74585635359. It ranks 36 out of 181 countries.

Summary

Estonia's GDP figures, both in absolute terms and per capita, indicate that the country is below the global average. However, its GDP per capita, PPP, suggests a relatively stronger economic performance compared to other countries. This could be attributed to Estonia's focus on enhancing productivity and efficiency in its economy, as reflected in its higher GNI per capita figures. These indicators are crucial as they provide insights into Estonia's economic standing, competitiveness, and overall standard of living compared to other nations in the dataset.

Broad Value Added

- Gross value added at basic prices (GVA) (current US$): Estonia's value of $27,544,806,163.57 is significantly below the average of $360,070,943,595.12, ranking 92 out of 176 countries in the dataset.
- Agriculture, forestry, and fishing, value added (% of GDP): Estonia's value of 2.05% is notably lower than the average of 10.86%, placing it at the 145th position out of 182 countries.
- Agriculture, forestry, and fishing, value added (current US$): Estonia's value of $643,196,899.46 is well below the average of $19,924,732,828.07, ranking 136 out of 182 countries.
- Services, value added (% of GDP): Estonia's value of 62.98% is higher than the average of 56.72%, positioning it at the 53rd rank out of 183 countries.
- Services, value added (current US$): Estonia's value of $19,755,605,509.57 is significantly below the average of $295,837,711,130.69, ranking 91 out of 183 countries.
- Industry (including construction), value added (current US$): Estonia's value of $7,146,003,754.54 is well below the average of $118,421,095,413.50, placing it at the 97th position out of 183 countries.

Summary

Estonia's economy exhibits a significant imbalance in sectoral contributions, with a strong reliance on the services sector and comparatively lower contributions from agriculture, forestry, and fishing, as well as industry. This skewed distribution may indicate a need for diversification to enhance economic stability and resilience, reducing dependence on any single sector. Addressing this imbalance can promote sustainable economic growth and mitigate risks associated with sector-specific fluctuations.

Manufacturing Value Added

In Manufacturing, value added (current US$), Estonia's value of $4,026,079,092.20 is significantly below the average of $76,207,179,589.66. Estonia ranks 88 out of 173 countries in this attribute.

In Manufacturing, value added (% of GDP), Estonia's value of 12.83% is slightly above the average of 11.90%. Estonia ranks 71 out of 173 countries in this attribute.

In Medium and high-tech manufacturing value added (% manufacturing value added), Estonia's value of 28.69% is notably higher than the average of 24.49%. Estonia ranks 54 out of 149 countries in this attribute.

In Chemicals (% of value added in manufacturing), Estonia's value of 4.13% is significantly below the average of 11.56%. Estonia ranks 79 out of 89 countries in this attribute.

In Food, beverages and tobacco (% of value added in manufacturing), Estonia's value of 13.30% is lower than the average of 24.51%. Estonia ranks 67 out of 92 countries in this attribute.

In Machinery and transport equipment (% of value added in manufacturing), Estonia's value of 19.57% is above the average of 16.85%. Estonia ranks 35 out of 93 countries in this attribute.

In Textiles and clothing (% of value added in manufacturing), Estonia's value of 5.28% is below the average of 6.33%. Estonia ranks 35 out of 93 countries in this attribute.

In Other manufacturing (% of value added in manufacturing), Estonia's value of 57.73% is significantly higher than the average of 42.13%. Estonia ranks 12 out of 94 countries in this attribute.

Summary

Estonia's manufacturing sector exhibits a mixed performance compared to global averages. While the country's overall manufacturing value added in USD is considerably lower than the average, its percentage of manufacturing value added to GDP is slightly higher. Estonia also excels in medium and high-tech manufacturing, machinery and transport equipment, and other manufacturing segments, outperforming global averages in these areas. However, the country lags behind in industries like chemicals, food, beverages, and textiles. These statistics are crucial for policymakers and investors to understand Estonia's industrial strengths and weaknesses, guiding future development strategies and investment decisions.

Money

Inflation, consumer prices (annual %) in Estonia is -0.44%, which is significantly below the attribute average of 8.26%. Estonia ranks 146 out of 165 countries in this statistic.

Inflation, GDP deflator (annual %) in Estonia is -0.53%, also below the attribute average of 6.90%. Estonia ranks 146 out of 188 countries in this metric.

Summary

Estonia's inflation rates, both in terms of consumer prices and GDP deflator, are in negative territory, indicating a deflationary trend in the economy. These rates are notably lower than the global averages and Estonia ranks relatively low among countries in both indicators, reflecting a unique economic situation.

These low inflation rates in Estonia are important as they could potentially impact consumer spending patterns, investment decisions, and overall economic growth. Persistent deflation can lead to declining wages, reduced business profits, and postponed purchases, which may pose challenges for the country's economic stability and development.

Consumption Expenditure

Final consumption expenditure (current US$): Estonia's final consumption expenditure is $22,105,421,37.92, significantly below the average of $381,630,252,515.38. Estonia ranks 95th out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Estonia's final consumption expenditure as a percentage of GDP is 70.47%, lower than the average of 82.37%. The country ranks 129th out of 159 countries in this metric.

General government final consumption expenditure (current US$): Estonia's expenditure by the general government is $6,509,863,342.64, well below the average of $93,676,578,238.03. Estonia ranks 81st out of 158 countries in this category.

General government final consumption expenditure (% of GDP): The general government expenditure in Estonia is 20.75% of GDP, higher than the average of 18.71%. Estonia holds the 50th rank out of 158 countries in this aspect.

Household and NPISHs Final consumption expenditure (current US$): Estonia's household and NPISHs expenditure is $15,595,578,795.28, significantly below the average of $290,127,571,157.69. The country ranks 97th out of 158 countries in this expenditure.

Households and NPISHs final consumption expenditure (% of GDP): Estonia's household and NPISHs expenditure as a percentage of GDP is 49.71%, lower than the average of 63.68%. Estonia ranks 129th out of 158 countries in this metric.

Summary

Estonia's final consumption expenditure, both in absolute terms and as a percentage of GDP, is notably below the global average across all categories - general government, households, and NPISHs. This could signify a relatively restrained level of domestic demand and public sector spending within the Estonian economy. Such lower consumption expenditures may impact economic growth and overall development by pointing towards potential limitations in consumer spending, government investment, and overall economic activity within the country.

Equities

Analysis of S&P Global Equity Indices (annual % change): Estonia's annual % change in equity indices is 13.83%, significantly above the attribute average of 2.06%. This places Estonia at the 18th rank out of 79 countries in the dataset.

Summary

Estonia's annual % change in equity indices stands at a notable 13.83%, surpassing the attribute average of 2.06%. This performance positions Estonia at the 18th rank among the 79 countries assessed in the dataset. These findings are crucial as they indicate Estonia's strong performance and growth potential in its equity markets compared to its global counterparts, showcasing an attractive investment environment and economic stability.

Investment

Foreign direct investment, net (BoP, current US$): Estonia's value of -3382502258.67876 is significantly below the attribute average of -1615235980.5053596. This places Estonia at rank 139 out of 169 countries.

Foreign direct investment, net inflows (BoP, current US$): With a value of 3758341346.86964, Estonia is below the attribute average of 5749271080.145696. Estonia ranks 38 out of 182 countries in this aspect.

Foreign direct investment, net inflows (% of GDP): Estonia's value of 11.9805354004922 is notably higher than the attribute average of 2.609379547494923. This places Estonia at rank 12 out of 178 countries.

Foreign direct investment, net outflows (BoP, current US$): Estonia's value of 375839088.190881 for this attribute is below the average of 5707991116.068991. Estonia ranks 54 out of 156 countries in this aspect.

Foreign direct investment, net outflows (% of GDP): With a value of 1.19806933042682, Estonia's performance in this attribute is higher than the average of 1.00435052368164. Estonia ranks 26 out of 155 countries in this regard.

Portfolio Investment, net (BoP, current US$): Estonia's value of 3241600202.92793 exceeds the attribute average of 679559169.5717607. This places Estonia at rank 30 out of 159 countries.

Portfolio equity, net inflows (BoP, current US$): Estonia's value of 202106047.950332 falls below the attribute average of 9197145994.702154. Estonia ranks 28 out of 125 countries for this attribute.

Summary

Estonia demonstrates a mixed performance in key macroeconomic indicators related to foreign direct investment and portfolio equity. While the country ranks relatively low in net FDI values, it excels in FDI as a percentage of GDP. This highlights Estonia's attractiveness to foreign investors in comparison to its economic size. The data underscores the importance of examining both the absolute values and the relative performance metrics to gain a comprehensive understanding of a country's investment landscape.

Broad Trade Attributes

Trade (% of GDP): Estonia's trade value accounts for 138.47% of its GDP, significantly above the average of 82.34%. This places Estonia at the 19th rank out of 163 countries in the dataset.

Merchandise trade (% of GDP): With merchandise trade equal to 107.31% of GDP, Estonia surpasses the average of 60.01%. The country is ranked 19th out of 186 nations included in the data.

Trade in services (% of GDP): Estonia's trade in services is 41.44% of its GDP, higher than the average of 24.63%. This places Estonia at the 19th rank out of 171 countries in the dataset.

External balance on goods and services (current US$): Estonia's balance stands at $25,531,509.62, significantly lower than the average of $3,405,509,011.13. The country ranks 65th out of 163 nations included in the data.

External balance on goods and services (% of GDP): Estonia's balance is at 0.08% of its GDP, above the average of -5.97%. This places Estonia at the 64th rank out of 163 countries in the dataset.

Summary

Estonia's robust trade sector, with trade, merchandise trade, and trade in services all exceeding global averages, showcases the country's strong integration into the global economy. Despite having a lower external balance on goods and services in terms of current US dollars compared to the average, Estonia's balance as a percentage of its GDP is positive, indicating a healthy trade position relative to its economic size. These indicators underscore Estonia's economic openness, competitiveness, and ability to generate foreign exchange, positioning it favorably in the international market.

Net Trade

1. Current account balance (BoP, current US$): Estonia's current account balance is -660,167,132.29 USD, which is significantly below the average of 1,443,864,831.49 USD. Estonia ranks 108th out of 170 countries in this attribute.

2. Current account balance (% of GDP): Estonia's current account balance as a percentage of GDP is -2.104%, slightly below the average of -2.361%. Estonia ranks 94th out of 170 countries in this attribute.

3. Net trade in goods and services (BoP, current US$): Estonia's net trade in goods and services is -244,602,616.55 USD, well below the average of 2,604,730,003.57 USD. Estonia ranks 84th out of 171 countries in this attribute.

4. Net primary income (BoP, current US$): Estonia's net primary income is -413,671,351.79 USD, above the average of -903,807,529.74 USD. Estonia ranks 82nd out of 170 countries in this attribute.

5. Net secondary income (BoP, current US$): Estonia's net secondary income is -1,895,435.53 USD, higher than the average of -269,227,340.40 USD. Estonia ranks 119th out of 170 countries in this attribute.

6. Net trade in goods (BoP, current US$): Estonia's net trade in goods is -312,101,785.55 USD, significantly below the average of 1,302,831,005.68 USD. Estonia ranks 84th out of 171 countries in this attribute.

7. Net capital account (BoP, current US$): Estonia's net capital account is 592,763,703.57 USD, markedly higher than the average of 136,543,824.05 USD. Estonia ranks 23rd out of 159 countries in this attribute.

8. Net financial account (BoP, current US$): Estonia's net financial account is -60,706,267.81 USD, above the average of -469,840,994.63 USD. Estonia ranks 77th out of 170 countries in this attribute.

Summary

Estonia faces a current account deficit, with negative balances in both goods and services trade as well as primary and secondary income. Despite this, Estonia exhibits a strong net capital account surplus, indicating significant foreign investment inflows. The negative net financial account suggests some outflows but is still better than the global average. These indicators are crucial for assessing Estonia's economic health, international trade position, and attractiveness to foreign investors.

Broad Export Attributes

- Exports of goods, services and primary income (BoP): Estonia's value of $23,449,175,683.02 is below the average of $146,238,908,936.30. Estonia ranks 69th out of 170 countries in this dataset.

- Exports of goods and services: Estonia's value of $21,721,081,365.30 is below the average of $122,938,540,059.78. Estonia ranks 70th out of 170 countries in this dataset.

- Exports of goods and services: Estonia's value of $21,731,484,847.46 is below the average of $129,596,864,610.19. Estonia ranks 69th out of 163 countries in this dataset.

- Exports of goods and services (% of GDP): Estonia's value of 69.27% is above the average of 38.19%. Estonia ranks 19th out of 163 countries in this dataset.

- Goods exports (BoP): Estonia's value of $15,186,863,511.40 is below the average of $93,310,581,697.39. Estonia ranks 69th out of 171 countries in this dataset.

- International tourism, receipts (% of total exports): Estonia's value of 3.98% is below the average of 9.74%. Estonia ranks 55th out of 120 countries in this dataset.

- ICT goods exports (% of total goods exports): Estonia's value of 9.58% is above the average of 3.81%. Estonia ranks 18th out of 142 countries in this dataset.

Summary

Estonia's exports performance across various indicators shows mixed results. While its absolute export values are below average, Estonia excels in the percentage of exports relative to its GDP, ranking higher than the average. Particularly noteworthy is Estonia's high ranking in ICT goods exports, indicating a specialization in this sector. These findings are important as they highlight Estonia's strong position in the tech industry and its dependence on exports for economic growth.

Merchandise Exports

1. Merchandise exports (current US$): Estonia has a focus country value of $16.34 billion, which is significantly below the attribute average of $89.54 billion. Estonia ranks 71 out of 187 countries for this statistic.

2. Agricultural raw materials exports (% of merchandise exports): With a value of approximately 7%, Estonia's exports of agricultural raw materials are notably higher than the attribute average of around 3%. This places Estonia at the 14th rank out of 151 countries.

3. Food exports (% of merchandise exports): Estonia's food exports account for around 10.61% of its merchandise exports, lower than the average of 24.06%. Estonia holds the 100th rank out of 152 countries in this aspect.

4. Fuel exports (% of merchandise exports): The proportion of fuel exports in Estonia stands at 4.86%, below the average of 13.70%. This places Estonia at the 62nd rank out of 147 countries.

5. Ores and metals exports (% of merchandise exports): Estonia's ores and metals exports comprise 2.13% of its merchandise exports, well below the average of 9.10%. Estonia ranks 97th out of 152 countries for this category.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Estonia's residual merchandise exports account for approximately 1.79% of its total merchandise exports, lower than the average of 3.20%. With this, Estonia secures the 44th rank out of 166 countries.

Summary

Estonia's key macroeconomic indicators reveal a mixed picture in terms of its export composition. While the country excels in agricultural raw materials exports and maintains a competitive position in residual merchandise exports, it lags behind in food and fuel exports when compared to global averages. Understanding these export dynamics is crucial for Estonia's economic strategy, as it highlights areas where the country may need to diversify or enhance competitiveness to maintain sustainable economic growth and resilience.

Technology Exports

Manufactures exports (% of merchandise exports): Estonia's percentage of manufacturing exports is 71.70%, which is above the average of 42.62%. The country ranks 38th out of 152 countries in this attribute.

High-technology exports (current US$): Estonia's high-tech exports amount to $2,169,142,528, below the average of $16,655,934,078.80. The country ranks 42nd out of 151 countries in this attribute.

High-technology exports (% of manufactured exports): Estonia's high-tech exports as a percentage of manufacturing exports is 20.62%, higher than the average of 10.15%. The country ranks 24th out of 150 countries in this attribute.

Medium and high-tech exports (% manufactured exports): Estonia's medium and high-tech exports represent 50.67% of its manufacturing exports, surpassing the average of 34.29%. The country ranks 43rd out of 149 countries in this attribute.

Summary

Estonia outperforms global averages in key macroeconomic indicators related to exports, including manufacturing exports, high-technology exports, high-technology exports as a percentage of manufacturing exports, and medium and high-tech exports as a percentage of manufacturing exports. This indicates Estonia's strong position in the global market and its focus on innovation-driven industries. These indicators are crucial as they demonstrate Estonia's competitiveness, ability to adapt to technological advancements, and potential for sustained economic growth through diversification and value-added exports.

Service Exports

Service exports (BoP, current US$): Estonia's value for this attribute is significantly below the average, ranking 62 out of 171 countries.

ICT service exports (BoP, current US$): Estonia's value for ICT service exports is below average, ranking 49 out of 166 countries.

ICT service exports (% of service exports, BoP): Estonia performs well in this attribute, with a value above the average, ranking 33 out of 166 countries.

Communications, computer, etc. (% of service exports, BoP): Estonia excels in this aspect, with a value significantly above the average, ranking 46 out of 169 countries.

Transport services (% of service exports, BoP): Estonia's value for transport services is above the average, ranking 58 out of 169 countries.

Travel services (% of service exports, BoP): Estonia's performance in travel services is below average, ranking 125 out of 167 countries.

Insurance and financial services (% of service exports, BoP): Estonia's value is below the average for this attribute, ranking 124 out of 161 countries.

Summary

Estonia performs above average in ICT service exports and Communications, computer, etc., while ranking below average in areas such as Service exports, Travel services, and Insurance and financial services. These indicators are crucial as they reflect Estonia's strengths and weaknesses in key service sectors, highlighting areas where the country can focus on improving competitiveness and expanding market share.

Commercial Service Exports

- Commercial service exports (current US$): Estonia's commercial service exports amount to $6.48 billion, ranking 62nd out of 171 countries included in the dataset. This value is significantly below the average of $28.51 billion for all countries.

- Travel services (% of commercial service exports): Estonia's travel services account for 9.18% of its commercial service exports. This places Estonia at the 126th rank out of 167 countries, with a percentage well below the average of 27.89%.

- Computer, communications and other services (% of commercial service exports): Estonia's services in this category constitute 62.62% of its commercial service exports. This high percentage ranks Estonia 41st out of 169 countries, well above the average of 42.44%.

- Insurance and financial services (% of commercial service exports): Estonia's insurance and financial services represent 1.50% of its commercial service exports. This places Estonia at the 124th rank out of 161 countries, significantly below the average of 6.97%.

- Transport services (% of commercial service exports): Estonia's transport services contribute to 26.71% of its commercial service exports. This ranks Estonia 60th out of 169 countries, slightly above the average of 23.37%.

Summary

Estonia's key macroeconomic indicators reveal that while the country excels in computer, communications, and other services, as well as transport services, its performance in travel services and insurance/financial services lags behind global averages. These findings are crucial as they highlight Estonia's strengths in specific service sectors and areas where there may be opportunities for growth and improvement to enhance the country's overall economic competitiveness and performance.

Broad Import Attributes

Imports of goods and services (current US$): Estonia's value of 21,705,953,337.8382 falls below the average of 126,191,355,599.06197. It ranks 70 out of 163 countries.

Imports of goods and services (% of GDP): Estonia's value of 69.19% is above the average of 44.15%. It ranks 20 out of 163 countries.

International tourism, expenditures (% of total imports): Estonia's value of 3.08% is below the average of 3.98%. It ranks 64 out of 131 countries.

ICT goods imports (% total goods imports): Estonia's value of 7.66% is above the average of 6.85%. It ranks 43 out of 143 countries.

Goods imports (BoP, current US$): Estonia's value of 15,498,965,296.9575 falls below the average of 92,007,788,027.16908. It ranks 73 out of 171 countries.

Imports of goods and services (BoP, current US$): Estonia's value of 21,965,683,981.8435 falls below the average of 120,321,577,988.12045. It ranks 70 out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Estonia's value of 24,107,449,651.3582 falls below the average of 144,514,428,722.27856. It ranks 73 out of 170 countries.

Summary

Estonia performs below average in terms of imports of goods and services, both in absolute value and as a percentage of GDP. However, it excels in importing ICT goods compared to the global average. This indicates a strong focus on technology and innovation in Estonia's trade. Despite lower overall import figures, Estonia's strategic emphasis on ICT goods could signify a niche market strength and potential for continued growth in the technology sector.

Merchandise Imports

Analysis of key import statistics for Estonia:

Summary

Estonia shows a mixed profile in terms of import statistics. While it has below-average total merchandise imports, it stands out in the import of agricultural raw materials as it ranks 5th globally. However, in food imports, Estonia lags behind, ranking 110th out of 152 countries. The distribution of imports across different sectors reflects Estonia's economic priorities and trade relationships, highlighting the country's reliance on certain industries and potential vulnerabilities in others.

Service Imports

1. Service imports (BoP, current US$): In Estonia, the value of service imports is 6,466,718,684.89 USD, which is below the average of 27,615,356,170.47 USD. Estonia ranks 65th out of 171 countries in this attribute.

2. Communications, computer, etc. (% of service imports, BoP): Estonia's percentage of service imports related to communications, computer, etc. is 65.82%, above the average of 44.40%. Estonia is ranked 20th out of 169 countries for this attribute.

3. Transport services (% of service imports, BoP): The percentage of service imports in Estonia related to transport services is 22.86%, below the average of 32.90%. Estonia is ranked 115th out of 169 countries in this category.

4. Travel services (% of service imports, BoP): Estonia's percentage of service imports allocated to travel services is 9.22%, which is below the average of 14.14%. Estonia is ranked 98th out of 169 countries for this attribute.

5. Insurance and financial services (% of service imports, BoP): In Estonia, the percentage of service imports attributed to insurance and financial services is 2.10%, below the average of 8.53%. Estonia ranks 155th out of 169 countries for this particular attribute.

Summary

Estonia exhibits a mixed profile in terms of service imports. While the overall value of service imports is relatively low compared to the global average, Estonia shows strengths in importing communications, computer, etc. services, surpassing the average percentage. However, there are areas for improvement, such as the low allocation of service imports to transport, travel, insurance, and financial services in comparison to the global average. These indicators are crucial as they reflect Estonia's reliance on different service sectors for external inputs, highlighting both strengths and areas that may require policy attention to enhance the country's economic competitiveness and resilience.

Commercial Service Imports

For Commercial service imports (current US$), Estonia's value is $6,426,354,333.24, which is significantly below the average of $27,102,746,128.60. Estonia ranks 64 out of 171 countries in this attribute.

Computer, communications and other services (% of commercial service imports) in Estonia is 65.61%, above the average of 41.71%. Estonia is ranked 19 out of 169 countries in this category.

Estonia's Insurance and financial services (% of commercial service imports) is 2.11%, much lower than the average of 8.85%. It ranks 156 out of 169 countries in this attribute.

Transport services (% of commercial service imports) in Estonia is 23.00%, below the average of 34.71%. Estonia ranks 116 out of 169 countries in this aspect.

Travel services (% of commercial service imports) in Estonia stand at 9.28%, lower than the average of 14.73%. Estonia ranks 103 out of 169 countries for this indicator.

Summary

Estonia demonstrates a unique economic profile compared to other countries, with relatively low commercial service imports value but a higher share of computer, communications, and other services. However, its reliance on insurance and financial services is significantly lower, impacting its ranking in this category. The country also lags behind in transport and travel services compared to the global average. These indicators are crucial as they reveal Estonia's economic priorities, strengths, and areas for potential development in the services sector.

Infrastructure

1. For Railways, passengers carried (million passenger-km), Estonia's value of 263 is significantly below the attribute average of 32281. The country ranks 48th out of 64 countries in this dataset.

2. In terms of Railways, goods transported (million ton-km), Estonia's value of 1729 is notably lower than the attribute average of 119231. Estonia holds the 44th rank out of 62 countries for this metric.

3. Regarding Container port traffic (TEU: 20 foot equivalent units), Estonia's value of 213928 is far below the attribute average of 6907110. This places Estonia at the 96th rank out of 110 countries in terms of container port traffic.

Summary

Estonia lags significantly behind the global average in key macroeconomic indicators related to railways and container port traffic. The country's lower values for passengers carried, goods transported by railways, and container port traffic highlight potential challenges in terms of transportation infrastructure development and trade volume compared to other nations. Addressing these deficiencies could be crucial for Estonia's economic growth and competitiveness on the international stage.

Information Technology Infrastructure

Analysis of Key Stats for Estonia:

Summary

In summary, Estonia performs exceptionally well in terms of secure internet servers per 1 million people and the percentage of population using the internet, ranking 10th and 36th respectively out of 193 countries. However, the country lags behind in fixed broadband subscriptions and mobile cellular subscriptions, ranking 91st and 142nd respectively.

These statistics are crucial as they indicate Estonia's strong digital infrastructure and high internet penetration, which can contribute to economic growth, innovation, and competitiveness. The lower rankings in fixed broadband and mobile subscriptions highlight areas for potential improvement to further enhance connectivity and communication within the country.

Energy Consumption

For Renewable energy consumption, Estonia's value of 40% is above the average of 32.18%. This places Estonia at rank 62 out of 191 countries in the dataset.

On the other hand, Estonia's CO2 emissions stand at 7097.52 kt, significantly below the average of 171895.94 kt. This places Estonia at rank 115, out of 188 countries included in the data.

Summary

Estonia's above-average renewable energy consumption of 40%, compared to the global average of 32.18%, highlights its commitment to sustainable energy practices. This places Estonia at a respectable rank of 62 out of 191 countries, showcasing its progress in renewable energy utilization. Conversely, Estonia's significantly lower CO2 emissions of 7097.52 kt, compared to the average of 171895.94 kt, signifies its environmental responsibility and lower carbon footprint, positioning it at rank 115 out of 188 countries. These indicators speak to Estonia's efforts towards energy sustainability and environmental conservation, key aspects for long-term economic development and global competitiveness.

Government Balance Sheet

The Central government debt of Estonia is 23.76% of its GDP, which is significantly below the average of 74.12% among 61 countries, giving Estonia a rank of 54 out of the 61 countries in the dataset.
Estonia's Reserves and related items stand at $363,145,137.45, lower than the average of $1,924,407,186.58 among 171 countries. This places Estonia at the 58th position out of the 171 countries in the dataset.
The Total reserves minus gold for Estonia amount to $1,981,763,948.88, a substantial difference from the average of $74,221,588,171.61. This places Estonia at the 110th rank out of 161 countries in the dataset.
Estonia's Total reserves including gold are $1,996,892,748.88, significantly lower than the average of $85,708,019,773.47 among 161 countries. Estonia is ranked 112th out of 161 countries in this aspect.
Estonia's Total reserves in months of imports are at 0.99, notably lower than the average of 7.10 months among 151 countries, placing Estonia at the 141st position out of the 151 countries in the dataset.

Summary

Estonia's macroeconomic indicators reveal a country with low central government debt compared to its GDP and reserves significantly below global averages. Despite the lower reserves, Estonia's rank in various categories reflects relative fiscal prudence. These indicators are crucial as they provide insights into Estonia's financial stability, ability to weather economic shocks, and overall creditworthiness in the international market.

Government Revenue

- Revenue, excluding grants (% of GDP): Estonia's value of 35.27% is above the average of 27.02%. This places Estonia at rank 25 out of 122 countries.
- Grants and other revenue (% of revenue): Estonia's value of 10.66% is below the average of 23.54%. This places Estonia at rank 82 out of 108 countries.
- Social contributions (% of revenue): Estonia's value of 33.51% is above the average of 22.29%. This places Estonia at rank 21 out of 81 countries.
- Taxes on goods and services (% of revenue): Estonia's value of 35.18% is above the average of 31.82%. This places Estonia at rank 50 out of 122 countries.
- Taxes on income, profits and capital gains (% of revenue): Estonia's value of 20.65% is below the average of 24.66%. This places Estonia at rank 70 out of 119 countries.

Summary

Estonia shows strong performance in revenue generation, with higher percentages in revenue excluding grants, social contributions, and taxes on goods and services compared to global averages. However, the country has a lower proportion of grants and taxes on income, profits, and capital gains. These indicators are crucial as they reflect Estonia's fiscal health, its reliance on different sources of revenue, and its competitiveness in the global economic landscape.

Taxes

Tax revenue (% of GDP): Estonia's tax revenue accounts for 20.69% of its GDP, which is 3.98% higher than the average among 123 countries. This places Estonia at rank 36 out of the 123 countries in the dataset.

Taxes on income, profits and capital gains (% of total taxes): Estonia's tax contribution from income, profits, and capital gains is 36.99% of total taxes, slightly below the average of 38.40% among 120 countries. This places Estonia at rank 62 out of the 120 countries in the dataset.

Tariff rate, applied, weighted mean, all products (%): Estonia's weighted mean tariff rate is 1.48%, significantly lower than the average of 5.21% across 153 countries. This places Estonia at a favorable rank of 118 out of the 153 countries in the dataset.

Summary

Estonia demonstrates strong tax revenue collection, surpassing the global average as a percentage of its GDP. Despite a slightly lower contribution from income, profits, and capital gains, Estonia's overall tax regime remains robust. Additionally, Estonia's low weighted mean tariff rate reflects its commitment to open trade policies, positioning the country favorably in global trade relations.

These findings are important as they indicate Estonia's fiscal stability and efficient tax system, which can support government spending on public services and infrastructure. The low tariff rate also signals Estonia's competitiveness in international trade, attracting foreign investments and fostering economic growth.

Government Expenses

For Expense (% of GDP), Estonia has a value of 41.09%, which is 9.41% above the average of 31.69%. This places Estonia at rank 29 out of 123 countries in the dataset.

Compensation of employees (% of expense) in Estonia is 15.39%, below the average of 24.70%. Estonia ranks 86 out of 123 countries for this attribute.

Estonia's Goods and services expense (% of expense) is 8.73%, lower than the average of 14.77%. This places Estonia at rank 81 out of 122 countries.

Interest payments (% of expense) in Estonia stand at 0.15%, well below the average of 6.85%. Estonia ranks 120 out of 121 countries for this attribute.

Other expense (% of expense) for Estonia is 9.33%, slightly above the average of 8.29%. Estonia holds the 36th position out of 120 countries.

Subsidies and other transfers (% of expense) in Estonia are at 66.40%, significantly above the average of 43.29%. This places Estonia at rank 19 out of 121 countries in the dataset.

Summary

Estonia's expense (% of GDP) is higher than the average, indicating a higher level of spending relative to its economic output. However, the country allocates a lower percentage towards compensation of employees and goods/services compared to the average. Interestingly, Estonia's interest payments are remarkably low, showcasing strong financial management. The high percentage of subsidies and transfers signifies significant government support within the economy, positioning Estonia prominently in this aspect.

These statistics are crucial as they paint a picture of Estonia's fiscal priorities and management. They reveal the government's focus areas, such as significant support through subsidies and transfers. The low interest payments showcase prudent financial decisions, while lower spending on compensation and goods/services may indicate areas for potential improvement or reallocation of resources.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Population ages 65 and above (% of total population) 14/194
Foreign direct investment, net inflows (% of GDP) 12/178
Agricultural raw materials exports (% of merchandise exports) 14/151
Agricultural raw materials imports (% of merchandise imports) 5/152
Secure Internet servers (per 1 million people) 10/193

Ranks in Bottom Decile For:

Attribute Rank/Total
Patent applications, nonresidents 125/129
Insurance and financial services (% of service imports, BoP) 155/169
Insurance and financial services (% of commercial service imports) 156/169
Total reserves in months of imports 141/151
Interest payments (% of expense) 120/121