Emerging Nordic country
Estonia benefits from its strategic location at the intersection of the European, Nordic and Russian markets, providing a unique set of trade, language and cultural linkages. It’s strategic location and business-friendly environment mean Estonia is increasingly used as a base from which to access some of the world’s largest and most advanced markets. These include the EU thanks to the harmonized legal environment and Euro currency; Russia thanks to language skills and geographic proximity and the Nordic region due to long-standing trade and cultural linkages.
Despite its comparatively small size, Estonia is one of the fastest growing economies in Europe, with GDP growth of 7.6% in 2011 and 3.2% in 2012, in contrast to the respective EU 27 growth indicators of 1.5% and -0.3%.
Estonia was among a group of ten countries incorporated into the European Union on 1 May 2004 and adopted the Euro in January 2011. It depicts the lowest level of sovereign debt to GDP in the EU, at 10% versus an 85% average for EU 27 (2012). Estonian has a government committed to balanced budgets, and has an AA- credit rating.