Estônia flag Estônia: Contexto político-econômico

Valores de comércio da Estônia

Foreign Trade in Figures

Estonia is considered one of the most liberal countries in the world and is very open to trade, which represents 172% of GDP (World Bank, latest edition). In 2023, the country's primary exports included cars (EUR 895 million), communication equipment (EUR 883 million), electricity (EUR 433 million), prefabricated buildings, whether complete or assembled (EUR 429 million), and refined petroleum products (EUR 418 million). Its main imports comprised cars (EUR 1.56 billion), refined petroleum products (EUR 961 million), electricity (EUR 741 million), communication equipment (EUR 713 million), and packaged medicaments (EUR 596 million - data Statistics Estonia).

Over the same period, the leading export destinations for Estonia were Finland (EUR 3.07 billion), Latvia (EUR 2.16 billion), Sweden (EUR 1.7 billion), Lithuania (EUR 1.49 billion), and Germany (EUR 1.2 billion). The top countries of origin for imports were Finland (EUR 3.29 billion), Germany (EUR 2.47 billion), Latvia (EUR 2.32 billion), Lithuania (EUR 2.18 billion), and Sweden (EUR 1.63 billion - data Statistics Estonia). Overall, Estonia's main trading partners in 2023 were the member states of the European Union, accounting for 74% of exports and 86% of imports.

Estonia's merchandise trade balance is structurally negative. According to figures from the WTO, in 2022, the country exported goods worth USD 22.4 billion (+4% y-o-y), while imports totaled USD 26.2 billion (+10.9%). In terms of services, Estonia is a net exporter: in 2022, exports reached USD 11.4 billion against USD 8.8 billion in imports. According to the World Bank, the country’s trade balance was negative by 0.6% of GDP. According to figures from the national statistics agency, exports of goods totaled EUR 18.2 billion in 2023, against EUR 21.2 billion in imports.

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 19,14018,02517,32323,65226,228
Exports of Goods (million USD) 17,01716,10116,34021,54122,405
Imports of Services (million USD) 5,6065,7706,2478,3658,826
Exports of Services (million USD) 7,8918,0576,5529,76211,420

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 145.9143.8138.5157.0171.6
Trade Balance (million USD) -1,436-1,035-279-1,535-2,793
Trade Balance (Including Service) (million USD) 8421,249-44-178-249
Imports of Goods and Services (Annual % Change) 5.93.80.421.05.8
Exports of Goods and Services (Annual % Change) 2.96.1-5.319.95.0
Imports of Goods and Services (in % of GDP) 71.669.969.278.786.1
Exports of Goods and Services (in % of GDP) 74.373.969.378.385.5

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -3.42.74.54.74.7
Volume of imports of goods and services (Annual % change) -7.71.35.15.35.3

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Estonia belongs to about 180 international organizations. Estonia has bilateral investment promotion and protection agreements with the USA, Switzerland, Germany, Great Britain, the Czech republic, Austria, Ukraine, Belgium and Luxembourg.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Finland 14.1%
Latvia 13.6%
Sweden 8.9%
Russia 6.0%
Lithuania 5.9%
See More Countries 51.6%
Main Suppliers
(% of Imports)
2022
Germany 9.4%
Finland 9.1%
China 8.8%
Russia 8.4%
Lithuania 6.7%
See More Countries 57.5%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

23.2 bn USD of products exported in 2022
Electrical energyElectrical energy 5.8%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 5.4%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 5.1%
Oils and other products of the distillation of...Oils and other products of the distillation of high temperature coal tar; similar products in which the weight of the aromatic constituents exceeds that of the non-aromatic constituents 4.8%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.7%
See More Products 76.2%
27.0 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.1%
Electrical energyElectrical energy 5.5%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.8%
Oils and other products of the distillation of...Oils and other products of the distillation of high temperature coal tar; similar products in which the weight of the aromatic constituents exceeds that of the non-aromatic constituents 2.8%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 2.7%
See More Products 76.2%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

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