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 Commonwealth of Independent States 67%
  • World 67%
Credit card penetration
  • Estonia 29%
  • Eastern Europe & The Commonwealth of Independent States 18%
  • World 19%
Internet penetration
  • Estonia 91%
  • Eastern Europe & The Commonwealth of Independent States 78%
  • World 62%
Smartphone penetration
  • Estonia 65%
  • Eastern Europe & The Commonwealth of Independent States 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 Commonwealth of Independent States 6.3%
  • World 20%
E-commerce completed on a mobile device
  • Estonia 12%
  • Eastern Europe & The Commonwealth of Independent States 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%

Estonia

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 2 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Apple Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Luminor Estonia Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High WebMoney Type Wallet Regions Asia Pacific + 3 Market relevance High YooMoney Type Wallet Regions Asia Pacific + 2 Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance Medium Boloro Type Wallet Regions Asia Pacific + 5 coop pank Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States G2A Pay Type Wallet Regions Asia Pacific + 5 LHV e-invoice Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States NETELLER Type Wallet Regions Asia Pacific + 5 Swedbank Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States Splitit Type Instalments Regions Asia Pacific + 5

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