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2017 OECD Economic Surveys: Estonia 2017

image of OECD Economic Surveys: Estonia 2017

The Estonian economy displays numerous strengths, including an excellent business environment, high educational attainment, and solid public finances. However, around a quarter of the population is still at risk of poverty and productivity growth has slowed down. Fiscal room should be used to make growth stronger and more inclusive.

Estonia is well integrated into global trade, and export potential and value-added drawn from trade can improve further. Efforts should concentrate on strengthening adult education, immigration of talents, and cooperation between businesses and researchers.

Investment has weakened, particularly in projects required to increase business productivity. Addressing skill shortages and inefficiencies in the insolvency regime can help raise firms’ investment capacity. Improving the quality of infrastructure projects and developing green investment further is a priority.

SPECIAL FEATURES: GETTING THE MOST OUT OF TRADE; REVIVING INVESTMENT

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Basic Statistics of Estonia, 2016

(Numbers in parentheses refer to the OECD average)

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Estonia were reviewed by the Committee on 19 July 2017. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 03 August, 2017.The Secretariat’s draft report was prepared for the Committee by Caroline Klein and Zuzana Smidova under the supervision of Pierre Beynet. The Survey also benefitted from contributions by Lorenzo Casullo, Olena Havrylchyk and Veiko Lember. Statistical research assistance was provided by Corinne Chanteloup and editorial assistance by Heloise Wickramanayake.The previous Survey of Estonia was issued in February 2015.

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