Analytics, Economics, Estonia

Among the 27 European Union Member States, Estonia ranked 10th which is on the same level as last year.

The country’s competitiveness was damaged by the general decline in the economic state – fast price increase which was mostly viewed from the aspect of enterprises operating on international markets as well as the decline in the labour situation, writes EPL Online

“Labour market is viewed not from the position of employment but from the point of view of labour shortage – it is not possible to employ leading specialists and qualified specialists,” said the leading researcher of the Estonian Institute of Economic Research Leev Kuum.

Estonia’s weak point is also the problems related to life expectancy – there are a lot of disability and traumas. “This is also viewed from the aspect of using the resource of the labour force, not the medical aspect,” explained Kuum.

In 2007, Estonia fell by three rankings in the list to 22nd place.

The international competitiveness list is compiled by the Lausanne Institute for Management Development. 55 countries were involved in the 2008 list.