overview of engineering industries and business ......estonian companies, products and services •...
TRANSCRIPT
Irene Surva-Lehtonen
Trade advisor
Enterprise Estonia
Overview of engineering industries and business opportunities in Estonia
• Suppliers search
• Provision of information on Estonian companies, products and services
• Setting up business meetings
• Investment services
Services for Finnish
companies
Helsinki Finland
Stockholm Sweden
Oslo Norway
Copenhagen Denmark
Netherlands
Hamburg Germany
London UK
Paris France
Saint-Petersburg Russia
Tokyo Japan
Shanghai China
New Delhi India
Singapore
Silicon Valley USA
Enterprise Estonia/EAS
The World Bank “Doing Business in 2016” report places Estonia 16th
among 189 countries:
• starting a business is easy
• taxation is simple and transparent
• investors feel secure
• trading across borders is active
• communication is easy
• flexible job regulation
Doing business in Estonia
MAIN ECONOMIC INDICATORS 2013-2016
2013 2014 2015
GDP real growth (%)
GDP (current prices, billion EUR)
Change of consumer price index (%)
Labor force (thousands)
Growth of labour productivity per worker
Unemployment rate (ILO)
Average wage (EUR)
Wage real growth (%)
1.6
19.00
2.8
621.3
0.3
8.6
949
4.9
2.7
19.96
-0.1
624.8
1.9
7.4
1,005
6.3
1.5
20.46
-0.5
640.9
-1.2
6.2
1,065
6.0
2016
1.6
20.91
0,1
653,3
-
6.8
1,146
7,5
16% MANUFACTURING
ESTONIAN GDP BY ECONOMIC ACTIVITY
6% CONSTRUCTION
12% WHOLESALE AND RETAIL TRADE
10% REAL ESTATE ACTIVITIES
8% TRANSPORTATION AND STORAGE
4% FINANCIAL AND INSURANCE ACTIVITIES
4% AGRICULTURE, FORESTRY AND FISHING
4% HEALTH AND SOCIAL WORK
4% ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES
5% EDUCATION
6% INFORMATION AND COMMUNICATION
6% PROFESSIONAL, SCIENTIFICAND TECHNICAL ACTIVITIES
7% PUBLIC ADMINISTRATION AND DEFENCE
8% OTHER SECTORS
Manufacturing industries
food products ;
15%
textiles ; 4%
wood and
products of
wood ; 17%
chemicals and
chemical
products ; 10%
mechanical
engineering ;
38%
other
equipment ;
16%
source: MKM, estonian statistics
Estonian Electronics Industry 2016
230 companies
11 000+ employees
Turnover 2.26 billion Euros (+5.9%)
Mainly export oriented (97%), 22% of Estonian export
Key sectors
-Telecom equipment
-Industrial electronics
-Automotive electronics & cable harnesses
-Medical, railway, aerospace, defense & security etc.
-Components
Estonian Electronics Industry
metal ja metal
products; 28%
machinery ja
equipment;
63%
transport
equipment; 9%
Industrial machinery and metalworking
Manufacturing of means of transport
Parts and accesso-ries
of motor vehicles40.6%
Trailers and semi-trailers
20.8%
Yachts and boats5.6%
Floating structures
4.9%
Other boats4.5%
Other23.6%
Main export commodity groups
Goods of Estonian originSource: Statistics Estonia
SIMPLE AND FAVOURABLE TAX SYSTEM
0%
Corporate
income tax
on reinvested
profits
Personal
income tax:
flat rate
20%
Unemployment
insurance:
2,6%
of the
gross salary
No
property
tax
VAT:
20%
Social tax:
33% Land tax:
from 0,1%
to 2,5%
LABOUR MARKET
Total
labour force:
653 300
The average
wage in
Estonia in
2016 was
1 146 EUR
Unemployment
rate:
6,8%
General
working time:
8 hours
a day,
40 h
per week
The duration
of the annual
vacation:
28 days
10 Public
holidays
a year
Source: Statistics Estonia (16.04.2017)
Estonian companies in Alihankinta trade fair
