Natalja Viilmann Economist at Eesti Pank

Weakening global economic activity, the spread of protectionism, general uncertainty and obstacles to demand growth in important trading partners for Estonia all threatened seriously the outlook for Estonian exports in the first... more

  Ilmar Lepik Economist at Eesti Pank

Estonian exports of goods and services have grown more slowly in the first nine months of 2018 than in 2017, and imports have grown faster. Exports may have grown more slowly not only because growth in foreign demand has stalled, but also... more

Kristo Aab Economist at Eesti Pank
  • The biggest boost to the current account surplus came from exports of services
  • The inflow of direct investment was at the same level as in 2016
  • The threat of external imbalances has declined

The year... more

The Estonian Competitiveness Report has been published once a year by Eesti Pank since 2013. Competitiveness can be analysed in various ways and so each report considers multiple groups of competitiveness indicators.
  • A favourable external environment has encouraged Estonian exports and the economy
  • Faster growth will need investment to increase substantially
  • A more stable tax environment would help revive investment and growth
  • Competitiveness depends on the ability of... more

Speaking at a conference for industry on Tuesday, Ülo Kaasik said that there have been a series of positive changes in exports in the first half of the year. External markets are growing, albeit slowly, but industrialists are under constant pressure from wages.

“Despite slow economic... more


In a presentation at the annual conference of the Estonian Economic Association, Ardo Hansson, Governor of Eesti Pank, explained that the competitiveness of the exporting sector has been under higher pressure than before, as was shown by the loss of market share in export markets in 2015.

... more
Working Papers of Eesti Pank 6/2015 Antione Berthou, Emmanuel Dhyne, Matteo Bugamelli, Ana-Maria Cazacu, Calin-Vlad Demian, Peter Harasztosi, Tibor Lalinsky, Jaanika Meriküll, Filippo Oropallo, Ana Cristina Soares. Assessing European Firms Exports and... more
Kaspar Oja Economist at Eesti Pank

The flash estimate from Statistics Estonia shows that the economy grew in the third quarter by 0.5% year-on-year and was down 0.5% quarter-on-quarter. The flash estimate gives a worse picture of growth than might have been expected from the... more

Kaspar Oja Economist at Eesti Pank

The flash estimate from Statistics Estonia shows that the economy grew in the first quarter by 1.2% year-on-year and declined by 0.3% quarter-on-quarter. This is weaker than was expected in the Eesti Pank December forecast, though it is... more

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