Updated information on Estonian Economy

General statistics

Estonia´s Foreign Trade – according to Statistics Estonia, in 2013, exports of goods decreased by 2% and imports by 1%, compared to 2012. In 2013, exports from Estonia amounted to 12.3 billion euros and imports to Estonia to 13.7 billion euros.

Main countries of destination were Sweden (17% of Estonia´s total exports), Finland (16%) and Russia (11%). The main countries of consignment were Finland (15% of Estonia´s total imports), German (11%) and Sweden (10%).

In 2013, the first place in exports was held by machinery and equipment (28.1% of Estonia´s total exports), followed by mineral fuels incl motor spirit, shale oil and electricity (10.5%) and agricultural products and food preparations (10.1%).

In 2013, the first place in imports was also held by machinery and equipment (27.8% of Estonia´s total imports), followed by mineral products (12.7%) and agricultural products and food preparations (11%). Full press release available at: http://www.stat.ee/72535

Statistics Estonia: In 2013 the economy increased 0.8% compared to the previous year – the GDP at current prices was 18.4 billion euros. 2013 is characterised by a deceleration of the Estonian economy. The growth of the trade activity contributed significantly to the increase of the GDP. In addition, in 2013, manufacturing and information and communication activities contributed the most to the GDP growth. In the four quarters of 2013, a decrease in the value added in transportation and storage slowed the Estonian economy down the most. Full press release available at: http://www.stat.ee/72427

In a fresh forecast (25, Feb 2014) the European Commission expects the Estonian economy will grow 2.3% in 2014 and 3.6% in 2015, as external demand recovers. http://ec.europa.eu/economy_finance/eu/forecasts/2014_winter_forecast_en.htm

Foreign Investments (Bank of Estonia)

  • Direct Investment Position in Estonia as of 31st of December 2013 is 15.6 billion euros, of which 25% had gone into financial services other than insurance and pension funds, 16% into real estate, 15,3% into wholesale and retail trade and 14,3% into manufacturing. Half (48%) of the direct investment come from Sweden (26.7%), Finland (21.3%) and one tenth from Netherlands.


  • Estonia´s Direct Investment Position abroad as of 31st of December 2013 is 4.8 billion euros. Direct investments abroad have principally been in maritime transport with 27.3% of total external investment, then professional, scientific and technical activities with 20.4%, financial services with 16.7% and real estate with 12.6%. Cyprus has received 28.4% of the direct investment, Lithuania 21.2% and Latvia 16.9%.


Other information

  • Additional materials published by Bank of Estonia which could be of your potential interest:

Estonian Competitiveness Report 2014 (The Estonian Competitiveness Report written by experts from Bank of Estonia assesses Estonia´s export strength to give a picture of the competitiveness of the economy, looking at long-term relative productivity growth and short-term deviations from the path of sustainable growth) http://www.eestipank.ee/en/publication/estonian-competitiveness-report/2014/estonian-competitiveness-report-2014 

Estonian Export Directory presents more than 1000 Estonian exporting companies in alphabetical order and also by products and services. Additionally, you will find up-to-date overview about the constantly developing economic situation in Estonia and overview about the Estonian Companies’ Competitiveness Ranking. All this information in English, German and French.

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