Estonia

Estonia

General Information

  • Population 1.3m
  • Population 15 + 1.1m
  • Online Population 1.2m
  • Area 45,339 km2
  • Currency EUR
  • GDP 31.0bn USD
  • GDP per Capita 23,330 USD
  • Card-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"31"},{"label":"Bank transfer","value":"56"},{"label":"Wallets","value":"8"},{"label":"Other","value":"5"}]
Banked population
  • Estonia 98%
  • Eastern Europe & the CIS 67%
  • World 67%
Credit card penetration
  • Estonia 29%
  • Eastern Europe & the CIS 18%
  • World 19%
Internet penetration
  • Estonia 91%
  • Eastern Europe & the CIS 78%
  • World 62%
Smartphone penetration
  • Estonia 65%
  • Eastern Europe & the CIS 60%
  • World 70%

Estonians, out of all the nationalities covered in our insights, are the most likely to bargain hunt cross-border. In 2020, 86% of Estonians had made purchases outside Estonia.

Estonia is the most digitally literate country in the world with a nationwide free WiFi in place since 2002. Estonians are used to being able to do almost everything online including shopping.

In November 2020, the ITC and Estonian e-residency programme agreed to open up the Estonian e-marketplace to entrepreneurs from outside the EU, particularly from developing countries.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 1.0
2022 1.1
2023 1.3
2024 1.5
E-Commerce spending per capita ($US)
2021 735
2022 867
2023 998
2024 1121
E-Commerce spending as % of GDP
2021 2.7
2022 3.0
2023 3.3
2024 3.5

Estonia

The E-Commerce Market

Top e-commerce segments

  1. Airlines & Hotels
  2. Health & Beauty
  3. Clothing & Footwear
  4. Electrical Goods
  5. Homeware & Furniture

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 50%
  2. Value of cross-border e-commerce ($US billion) – 0.4
  3. % of online shoppers who have shopped cross-border – 86%

Top 3 cross-border shopping origin markets

  1. Russia
  2. Germany
  3. Finland
E-commerce % of total retail
  • Estonia 20%
  • Eastern Europe & the CIS 6.3%
  • World 20%
E-commerce completed on a mobile device
  • Estonia 12%
  • Eastern Europe & the CIS 34%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
[{"label":"Visa","value":"2"},{"label":"Mastercard","value":"98"}]
  • E-commerce market size ($US billion) 0.8 USD
  • Average spend p/online shopper 606 USD
  • E-commerce spending as % of GDP 2.3%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Estonia

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & the CIS, North America + 1 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Luminor Estonia Type Bank transfer Regions Eastern Europe & the CIS Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High YooMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS + 1 Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 coop pank Type Bank transfer Regions Eastern Europe & the CIS G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 LHV e-invoice Type Bank transfer Regions Eastern Europe & the CIS NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Swedbank Type Bank transfer Regions Eastern Europe & the CIS Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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