Competitive Costs

Numerous foreign companies have found Estonia to be a highly attractive location. Companies partly or wholly owned by foreigners account for about 50% of Estonia’s GDP and over 50% of the country’s exports. While offering easy access to the wealthy Nordic and North European markets, Estonia provides a low-cost base for production and export. The country lies within the European Union tariff-free customs area but with far lower start-up and running costs than in existing EU member countries.

Many costs such as energy, telecommunications and transport services, buying or renting property are considerably lower than in other parts of the Baltic Sea Region. Despite the levels of education, the skills that these well qualified graduates possess are still some of the best value in terms of salary in Europe. The average Estonian salary is 1005 EUR a month (2015), only a fraction of that of Germany or Scandinavia. Nevertheless, Estonia has acquired a well-deserved reputation for the high quality of its products.

In the wide range of industries - such as wood and food processing, engineering and electronics - investors into Estonia find they can achieve Scandinavian quality levels at East European prices.