Post on 12-Oct-2020
EE
COUNTRYPROFILE ESTONIA
CONTENTS<<COUNTRY>>
IMD World Competitiveness Yearbook, Talent & Digital 2020: summaries
WORLD COMPETITIVENESSRANKING 2020
All data are available from theWorld Competitiveness Online.
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BASIC FACTSCapital
Land area (square km '000) 452019
Exchange Rate (per $) 0.8932019
Population - market size (millions) 1.332019 60
Gross Domestic Product (GDP) (US$ billions) 31.42019 60
GDP (PPP) per capita (US$) 36,0262019 35
Real GDP growth (%) 4.32019 8
Consumer price inflation (%) 2.272019 38
Unemployment rate (%) 4.402019 26
Labor force (millions) 0.702019 60
Current account balance (% of GDP) 2.192019 28
Direct investment stocks inward ($bn) 24.32018 57
Direct investment flows inward (% of GDP) 9.232019 5
PEER GROUPS RANKINGSEUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)
COMPETITIVENESS TRENDS - OVERALL
ESTONIAOVERALL PERFORMANCE (63 countries) Rank
Tallinn
CHALLENGES IN 2020Ensure the functioning of the economy during and after Covid-19.
Boost productivity through innovation and digital transformation.
Estonian Institute of Economic Research (EKI)
COMPETITIVENESS LANDSCAPE
31 30 31 35 28
2016 2017 2018 2019 2020
3733
3936
23 2530
24
1520
28
37 39
18
26 28
35
44
28
17
Dom
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Inte
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Empl
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Pric
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Publ
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Tax
Polic
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Inst
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Busi
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Leg
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Soci
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Fra
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ork
Prod
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Effi
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Labo
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Fina
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Man
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Prac
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Att
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s an
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Basi
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Tech
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Hea
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Educ
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Economic Performance Government Efficiency Business Efficiency Infrastructure
19 18 19 22 18
2016 2017 2018 2019 2020
20 19 1921
18
2016 2017 2018 2019 2020
• Ensure the functioning of the economy during and after Covid-19.
• Boost productivity through innovation and digital transformation.
• Promote cooperation between business and research sector.• Stimulate balanced regional development.• Secure better access to skilled labor force.
Provided by:Estonian Institute of Economic Research (EKI)
IMPROVEMENTSWCY 2019
WCY 2020 DECLINES
WCY 2019
1.1.18 Gross fixed capital formation - real growth 3.35 13.10 3.2.14 Labor force long-term growth 3.93
4.1.07 Population - growth 0.15 0.38 1.4.04 Employment - long-term growth 6.27
4.4.23 Environment-related technologies 0.02 0.04 2.5.12 Unemployment rate - gender ratio 0.98
2.3.08 Exchange rate stability 0.046 0.005 3.4.11 Women in management 38.51
2.3.07 Foreign currency reserves per capita 573 1,075 1.2.18 Export concentration by product 35.1
1.4.09 Youth unemployment 19.93 11.10 2.1.11 Pension funding 3.33
2.1.02 Government budget surplus/deficit (%) -0.55 -0.32 4.4.26 Pollution problems 5.93
1.5.01 Consumer price inflation 3.41 2.27 1.2.09 Exports of goods (%) 56.15
1.4.08 Long-term unemployment 1.34 0.90 3.3.06 Banking and financial services 6.55
2.5.02 Homicide 3.20 2.21 2.4.07 Government subsidies 0.38
3.2.18 Skilled labor 2.50 3.27 1.1.19 Resilience of the economy 5.97
2.2.12 Real personal taxes 4.50 5.80 3.3.16 Credit 6.37
1.2.02 Current account balance 1.74 2.19 4.3.16 Patent applications per capita 21.66
3.2.09 Apprenticeships 4.47 5.63 1.2.25 Tourism receipts 6.12
4.3.18 Number of patents in force 55.3 68.8 1.2.08 Exports of goods ($bn) 17.01
COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS
ESTONIACOMPETITIVENESS EVOLUTION
1.98
39.3
2.97
5.37
51.37
6.00
0.40
5.80
The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are
determined by the largest percentage changes in the value of each criterion from one yearbook to the next.
WCY 2020
16.12
KEY ATTRACTIVENESS INDICATORSFrom a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key
attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses
to the lowest.
3.75
1.17
33.24
5.57
6.00
20.42
1.7%15.0%18.3%25.0%26.7%28.3%31.7%33.3%33.3%36.7%36.7%41.7%46.7%48.3%58.3%
0% 10% 20% 30% 40% 50% 60% 70%
Competency of governmentStrong R&D culture
Quality of corporate governanceAccess to financing
Effective labor relationsCost competitiveness
Open and positive attitudesPolicy stability & predictability
Reliable infrastructureDynamism of the economyEffective legal environment
Skilled workforceCompetitive tax regime
Business-friendly environmentHigh educational level
WORLD COMPETITIVENESSDIGITAL RANKING 2020
All data are available from theWorld Competitiveness Online.
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Alpha AlphaLabelBeta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2
6.5 4 4 2 28.5 4 4 2 211 4 4 2 2
2016 2017 2018 2019 2020
27 26 25 29 21
30 28 29 30 23
17 19 20 22 23
26 26 26 30 20
OVERALL
Future readiness
PEER GROUPS RANKINGS
EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)
COMPETITIVENESS & DIGITAL RANKINGS
Technology
DIGITAL TRENDS - OVERALL
ESTONIA
OVERALL PERFORMANCE (63 countries)
OVERALL & FACTORS - 5 years
Knowledge
27 26 2529
21
31 30 3135
28
2016 2017 2018 2019 2020
Digital
Competitiveness
17 17 16 1813
2016 2017 2018 2019 2020
17 17 17 1713
2016 2017 2018 2019 2020
23 31 3 47
23 30 29 1721
20 18 26 22
Knowledge Talent Training & education Scientific concentration
Technology Regulatory framework Capital Technological framework
Future readiness Adaptive attitudes Business agility IT integrationThe direction of the triangle indicates the performance change from the last year: improved or stabledeclined
Overall Factors Sub-Factors
N.B. This graph provides only a comparison of the country’s performance in the two rankings.
u Overall top strengths
w Overall top weaknesses
Subfactors 2016 2017 2018 2019 202046 40 34 37 31
3 2 17 10 3
38 38 39 46 47
Talent Rank Rank Rank
Educational assessment PISA - Math 7 u 5 26 International experience 45 8 29 Foreign highly-skilled personnel 29 29 19 Management of cities 36 16 w 60w Digital/Technological skills 47 14 30 Net flow of international students 34 10 20 w 50
Subfactors 2016 2017 2018 2019 202019 23 25 31 30
16 18 21 24 29
14 18 15 16 17
Regulatory framework Rank Rank Rank
Starting a business 7 - 20 Enforcing contracts 8 36 44w Immigration laws 59 38 u 4 Development & application of tech. 24 23 11 Scientific research legislation 42 18 29 Intellectual property rights 25 33 24
Subfactors 2016 2017 2018 2019 202028 31 24 26 18
20 19 29 43 26
25 25 22 26 22
Adaptive attitudes Rank Rank Rank
u E-Participation 1 29 u 3 Internet retailing 20 w 47 44u Tablet possession 7 9 16 Smartphone possession 31 37 30 Attitudes toward globalization 32 42 12
Training & education Scientific concentration
Talent
Robots in Education and R&D
IT integration
Business agility IT integration
Scientific concentration
Capital Technological framework
FACTORS BREAKDOWN - STRENGTHS AND WEAKNESSES
ESTONIA
FUTURE READINESS
TECHNOLOGY
Technological framework
Opportunities and threats E-GovernmentWorld robots distribution Public-private partnerships
IT & media stock market capitalization Communications technology
Regulatory framework
Capital
KNOWLEDGE
Entrepreneurial fear of failure
Agility of companies Cyber securityUse of big data and analytics Software piracyKnowledge transfer
Adaptive attitudes
Business agility
Venture capital Internet bandwidth speedInvestment in Telecommunications High-tech exports (%)
Funding for technological development Mobile Broadband subscribersBanking and financial services Wireless broadbandCountry credit rating Internet users
Training & education
Employee training Total expenditure on R&D (%)Total public expenditure on education Total R&D personnel per capitaHigher education achievement Female researchersPupil-teacher ratio (tertiary education) R&D productivity by publicationGraduates in Sciences Scientific and technical employmentWomen with degrees High-tech patent grants
WORLD TALENTRANKING 2020
All data are available from theWorld Competitiveness Online.
Visit our eShop
Alpha AlphaLabel Beta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2
Value
6.2 % 8 6,850 US$ 26 13.15 ratio 21 12.66 ratio 35 5.63 Survey [0..10] 20u 7.32 Survey [0..10] 5u 48.62 % 6 6.50 Survey [0..10] 29
Value
69.40 index 14u 8.13 Survey [0..10] 3 6.33 Survey [0..10] 20 4.53 Survey [0..10] 40 6.88 Survey [0..10] 34 5.67 Survey [0..10] 29 15,532 US$ 38w 101,547 US$ 47 12.95 % 22 7.23 Survey [0..10] 21u 6.84 micrograms 6
Value
w 0.14 % 45w 3.27 Survey [0..10] 58w 5.10 Survey [0..10] 55 5.17 Survey [0..10] 45w 3.80 Survey [0..10] 57 7.87 Survey [0..10] 12 27.73 % 18 7.43 Survey [0..10] 20 6.95 Survey [0..10] 24 7.53 Survey [0..10] 21 3.32 number 25u 526 Average 4
Investment & Development 2020 Rank
Health infrastructure meets the needs of society
2020 Rank
Total public expenditure on education Percentage of GDP
ApprenticeshipsEmployee training is a high priority in companies
Readiness 2020 Rank
Educational assessment - PISA PISA survey of 15-year olds
Appeal
Exposure to particle pollution Mean population exposure to PM2.5, Micrograms per cubic metre
Labor force growth Percentage change
Index of a basket of goods & services in the main city, including housing (New York City = 100)
Skilled labor is readily available
Cost-of-living index
Female labor force Percentage of total labor force
Pupil-teacher ratio (secondary education) Ratio of students to teaching staff
are sufficiently implemented
Total public exp. on education per student Spending per enrolled pupil/student, all levels
Pupil-teacher ratio (primary education) Ratio of students to teaching staff
Management education meets the needs of the business community
Language skills are meeting the needs of enterprises
Student mobility inbound Foreign tertiary-level students per 1000 inhabitants
Primary and secondary education meets the needs of a competitive economy
Graduates in Sciences % of graduates in ICT, Engineering, Math & Natural Sciences
University education meets the needs of a competitive economy
Finance skills are readily available
International experience of senior managers is generally significant
Competent senior managers are readily available
Justice is fairly administered
Gross annual income including supplements such as bonuses, US$
Remuneration of management Total base salary plus bonuses and long-term incentives, US$
Effective personal income tax rate Percentage of an income equal to GDP per capita
Attracting and retaining talents is a priority in companies
Worker motivation in companies is high
Brain drain (well-educated and skilled people) does not hinder competitiveness in your economy
Quality of life is high
Foreign highly-skilled personnel are attracted to your country's business environment
Remuneration in services professions
OVERALL PERFORMANCE (63 countries)
IMD World Talent Ranking 2020
ESTONIA
26
2928
27
19
1314
16
21
10
35
38
33
23
19
3435
31
35
32
2016 2017 2018 2019 2020
Overall
Investment &Development
Appeal
Readiness
10
1919
32
Investment & Development
Appeal
Readiness
The direction of the triangle indicates the performance change from the last year: improved or stabledeclined
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IMD WORLDTALENTRANKING 2020
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WOR
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ANK
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