COUNTRY PROFILE. Estonia

Transcription

1 COUNTRY PROFILE Estonia

2 WORLD COMPETITIVENESS RANKING 2017 All data are available from the World Competitiveness Online. Visit our eshop

3 COMPETITIVENESS TRENDS - OVERALL OVERALL PERFORMANCE (63 countries) CHALLENGES IN 2017 Raising Raising labor labor productivity. productivity. Increase foreign and domestic investments. Stimulate the regional balanced development. Prevent the skilled labor force shortage. To find a new markets outside the EU. Provided Estonian Institute by: of Economic Research, Tallinn Estonian Institute of Economic Research, Tallinn BASIC FACTS Rank Capital Land area (square km '000) Tallinn Exchange Rate (per $) Population - market size (millions) Gross Domestic Product (GDP) (US$ billions) GDP (PPP) per capita (US$) 29, Real GDP growth (%) Consumer price inflation (%) Unemployment rate (%) Labor force (millions) Current account balance (% of GDP) Direct investment stocks inward ($bn) Direct investment flows inward (% of GDP) COMPETITIVENESS LANDSCAPE Economic Performance Government Efficiency Business Efficiency Infrastructure Domestic Economy International Trade International Investment Employment Prices Public Finance Tax Policy Institutional Framework Business Legislation Societal Framework Productivity & Efficiency Labor Market Finance Management Practices Attitudes and Values Basic Infrastructure Technological Infrastructure Scientific Infrastructure Health and Environment Education PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)

4 COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS COMPETITIVENESS EVOLUTION 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. IMPROVEMENTS WCY 2016 WCY 2017 DECLINES WCY Exchange rate stability Adjusted consumer price inflation Real GDP growth Government budget surplus/deficit (%) Digital/Technological skills Pension funding Student mobility inbound Risk of political instability Quality of air transportation Pupil-teacher ratio (secondary education) Stock market capitalization (%) Patent applications per capita Environmental laws Public expenditure on education per pupil Social responsibility Exports of commercial services ($bn) Total health expenditure Transparency Competition legislation Need for economic and social reforms Business expenditure on R&D (%) Government subsidies Exchange rates Language skills Relocation threats of services Unemployment rate Long-term unemployment Public finances 5.73 WCY Technological cooperation Health infrastructure KEY ATTRACTIVENESS INDICATORS From 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. Reliable infrastructure High educational level Dynamism of the economy Competitive tax regime Business-friendly environment Policy stability & predictability Access to financing Cost competitiveness Skilled workforce Effective legal environment Open and positive attitudes Effective labor relations Strong R&D culture Quality of corporate governance Competency of government 47.5% 47.5% 47.5% 44.3% 41.0% 39.3% 37.7% 36.1% 34.4% 27.9% 26.2% 19.7% 19.7% 6.6% 3.3% 0% 5% 10% 15% 20% 25% % 35% 40% 45% 50%

5 COMPETITIVENESS TRENDS - FACTOR BREAKDOWN ECONOMIC PERFORMANCE Sub-Factor Rankings : 2016 Domestic Economy 55 International Trade 32 International Investment 57 Employment 36 Prices GOVERNMENT EFFICIENCY Sub-Factor Rankings : 2016 Public Finance 9 Tax Policy 35 Institutional Framework 28 Business Legislation 15 Societal Framework BUSINESS EFFICIENCY Sub-Factor Rankings : 2016 Productivity & Efficiency 44 Labor Market 41 Finance 36 Management Practices Attitudes and Values INFRASTRUCTURE Sub-Factor Rankings : 2016 Basic Infrastructure 33 Technological Infrastructure 31 Scientific Infrastructure 39 Health and Environment 33 Education

6 BALANCE SHEET - FACTOR BREAKDOWN STRENGTHS WEAKNESSES Economic Performance Rank Economic Performance Rank Office rent 1.2. Exports of commercial services (%) Tourism receipts Exchange rates Direct investment stocks inward (% of GDP) Trade to GDP ratio Exports of goods (%) Export concentration by product Cost-of-living index Employment (%) Relocation threats of production Exports of goods ($bn) Exports of commercial services ($bn) Relocation threats of R&D facilities Direct investment stocks inward ($bn) Direct investment stocks abroad ($bn) Direct investment flows inward ($bn) 1.1. Diversification of the economy Gross fixed capital formation - real growth Direct investment flows abroad ($bn) Government Efficiency Rank Government Efficiency Rank Total general government debt (%) Creation of firms Start-up procedures Start-up days Government subsidies Employee's social security contribution rate 2.4. Ease of doing business Protectionism Labor regulations Exchange rate stability Foreign currency reserves per capita Employer's social security contribution rate Ageing of society Immigration laws State ownership of enterprises Subsidies Collected total tax revenues 2.2. Real corporate taxes Investment incentives Homicide Business Efficiency Rank Business Efficiency Rank Digital transformation in companies Customer satisfaction Female labor force Entrepreneurship Employee training Attracting and retaining talents Finance and banking regulation Remuneration of management Labor relations Remuneration in services professions Skilled labor Finance skills Competent senior managers Stock market capitalization (%) Working hours Brain drain International experience Corporate boards Stock markets Banking sector assets Infrastructure Rank Infrastructure Rank Women with degrees Cyber security Exposure to particle pollution Sustainable development Total public expenditure on education Access to water Broadband subscribers Science in schools Connectivity Access to commodities Qualified engineers Quality of air transportation Digital/Technological skills Environment-related technologies Population - growth Public-private partnerships Total health expenditure Management of cities 4.2. Technological cooperation Energy intensity

7 WORLD COMPETITIVENESS DIGITAL RANKING 2017 All data are available from the World Competitiveness Online. Visit our eshop

8 DIGITAL TRENDS - OVERALL OVERALL PERFORMANCE (63 countries) Overall Alpha Alpha Factors Beta BetaLabel Gamma GammaLab Sub-Factors Knowledge Talent Training & education Scientific concentration Technology Regulatory framework Capital Technological framework The direction of the triangle indicates the performance change from the last year: improved or stable declined Future readiness Adaptive attitudes Business agility IT integration OVERALL & FACTORS - 5 years OVERALL Knowledge Technology Future readiness COMPETITIVENESS & DIGITAL RANKINGS Digital Competitiveness N.B. This graph provides only a comparison of the country s performance in the two rankings PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)

9 u Overall top strengths w Overall top weaknesses FACTORS BREAKDOWN - STRENGHTS AND WEAKNESSES KNOWLEDGE Subfactors Talent Training & education Scientific concentration Talent Rank Rank Rank Training & education Scientific concentration u Educational assessment PISA - Math 8 u Employee training 8 Total expenditure on R&D (%) 26 w International experience 50 Total public expenditure on education 15 Total R&D personnel per capita 29 Foreign highly-skilled personnel 45 Higher education achievement 28 Female researchers 16 Management of cities 40 Pupil-teacher ratio (tertiary education) - w R&D productivity by publication 58 Digital/Technological skills 46 Graduates in Sciences 22 Scientific and technical employment 28 w Net flow of international students 50 u Women with degrees 1 High-tech patent grants 21 TECHNOLOGY Subfactors Regulatory framework Capital Technological framework Regulatory framework Rank Capital Rank Technological framework Rank u Starting a business 8 IT & media stock market capitalization - Communications technology 26 Enforcing contracts 11 Funding for technological development 29 Mobile Broadband subscribers 19 w Immigration laws 49 Banking and financial services 20 u Wireless broadband 6 Technological regulation 22 Investment risk 23 Internet users Scientific research legislation 28 Venture capital 26 Internet bandwidth speed 37 Intellectual property rights Investment in Telecommunications 20 High-tech exports (%) 33 FUTURE READINESS Subfactors Adaptive attitudes Business agility IT integration Adaptive attitudes Rank Business agility Rank IT integration Rank E-Participation 19 Opportunities and threats 29 E-Government Internet retailing 21 Innovative firms 11 Public-private partnerships 42 w Tablet possession 48 Agility of companies 24 Cyber security 9 Smartphone possession 21 Use of big data and analytics 26 Sofware piracy Attitudes toward globalization 43 Knowledge transfer 31

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