The European Chamber (EuCham), an independent institution representing the interests of national and international companies doing business in Europe, has ranked Estonia 12th in its Best European Countries for Business 2018 report.
The EuCham score used for the ranking originates from the average of the World Bank's Distance to Frontier score (DTF) and Transparency International's Corruption Perception Index (CPI).
According to the report, the best European countries for business, out of 46 countries, are Denmark, Norway and Finland, with scores of 86, 84 and 83, respectively.
The remainder of the top 10 included Sweden, the UK, Switzerland, Germany, the Netherlands, Iceland and Austria. Estonia and Luxembourg were ranked 12th and 13th, respectively, both with a score of 76.
Estonia's placement remained unchanged from the 2017 ranking, but it score saw a modest increase on year from 75.55 to 75.9.
Among other countries in the region, Lithuania placed 17th, Latvia 20th, Belarus 31st and Russia 42nd.
According to the report, the worst country in Europe in which to do business is Ukraine, which ranked last with a score of 48.
Editor: Aili Vahtla