ESTONIA

Quick facts

The country of Estonia (Estonian: Eesti), officially the Republic of Estonia (Eesti Vabariik) is a republic in the Baltic region, including the Nordic countries. It is bordered by Latvia to the south, Russia to the east and the sea border with Finland in the north and Sweden in the west. The country comprises over 1,500 islands in the Baltic Sea and Gulf of Finland, between Estonia and Finland. Islands make up 10% of the country's total area. 

Residents:

1.400.000

Capital Tallinn: 

Approx. 400.000 residents

Government:

Republic

Language:

Estonian

Members in EU:

Since May 2004

Currency:

Euro

Independent:

20 August 1991 (1st time 24 February 1918)

History

In 1918, after the German occupation during World War I, the Republic of Estonia proclaimed its independence. German troops invaded the country and the Soviet Union threatened with occupation, but after the peace agreement in 1920 formally recognized the Soviet Union country. Independence did not last very long. During World War II, Estonia was invaded by the first Soviet and later by German forces. In 1944 the Soviet Union recaptured the country, which was a Soviet republic until 1991 when it came Lithuanian examples and again declared its independence. Since 2004, the country is a member of both the European Union and NATO. 2010 Estonia became a member of the OECD. In 2011 Estonia introduced the euro as their currency. 

Economy

Estonia was previously a farming country, but after World War II, the city has grown rapidly. As in other Soviet republics established a centrally planned economy. When the country became free again began a modernization of the dilapidated industrial apparatus and arduous transition to a market economy. Within agriculture, mechanized and collectivized in Soviet times, it started to reintroduce family-run smallholdings. Meat and dairy products are important. It is grown rye, wheat, potatoes and fodder. Forestry and forest industry has traditionally important. Industry, particularly the heavy production expanded strongly by the Soviet regime (engineering, chemical and electronic products, foodstuffs, textiles) and Estonia provided the other Soviet republics with attractive products. Energy demand was covered largely by domestic shale oil. Oil shale and phosphorite (raw material for fertilizers) are found primarily in the Northeast, where mining caused severe environmental damage.

Estonia's economy has been a couple of tough years (2007-2009) started to grow again. Thanks to a low budget deficits, the Estonian state could keep the economy in balance. The routine jobs that moved to the country from Western Europe disappeared to cheaper countries, but instead have more skilled jobs have moved to Estonia. Ericsson, for example, a large part of its production of the new 4G system (LTE) located in Estonia. After the events surrounding the Bronze Soldier was concern that Russia completed the previously lucrative transit of oil through its ports. But a large proportion of transit traffic continues to Estonian ports.

Major exports are machinery and tools (33%), followed by wood and paper (15%), textiles (14%) and food-related products (8%). Principal trading partners are Finland, Sweden, Latvia, Russia, Germany and Lithuania.