OECD's 2012 Economic Survey of Estonia examines recent economic developments, policy, and prospects. In addition it includes special chapters covering macroeconomic volatility and skills and poverty. Estonia is an open economy with a business friendly regulatory environment. Nevertheless it has not fully reaped the benefits of globalisation. Enterprise support should therefore focus more on making firms more productive and overcoming size constraints. Furthermore, an active approach to better market the advantages of Estonia as a location for export-oriented foreign investors appears warranted.