GENERAL STATISTICS

 

Estonian economy grew by 4.6 in the 1st quarter of 2017 and by 5.7% in the 2nd quarter of 2017 compares to the same period in the previous year. 

In a fresh forecast (September 2017), the Estonian Ministry of Finance expects the Estonian economy will grow by 4.3% in 2017 and by 3.3% in 2018. From 2019-2021, the Estonian economy is predicted to grow by an average of 3% annually. The main driver of economic growth for these years will be domestic demand supported by investments. Exports are to grow substantially along with foreign demand for Estonian goods and services, and the role of exports as a growth driver for the years to come will increase.

 

Estonia´s Foreign trade – according to Statistics Estonia during the first six months of 2017 exports of goods increase 11% and imports of goods increase 10% compared to the same period of the previous year. The main countries of destination were Finland (16%), Sweden (14%), Latvia (9%) and main countries of consignment were Finland (15%), Germany (10%) and Lithuania (9%).  

 

Main Trade Partners of Estonia in the first half-year 2017

Country

Exports

Country

Imports

Finland

15.7%

Finland

15.2%

Sweden

14.4%

Germany

10.4%

Latvia

8.6%

Lithuania

9.0%

Russia

6.8%

Sweden

8.7%

Germany

6.4%

Latvia

7.9%

Lithuania

5.9%

Poland

7.3%

Netherlands

4.3%

Russia

6.8%

Norway

4.0%

Netherlands

5.9%

USA

3.1%

China

4.1%

Denmark

3.0%

UK

2.5%

Others

27.8%

Others

22.2%

 

 

Direct Investments (Bank of Estonia)

 

Foreign direct investment in Estonia totalled 18.7 billion euros (as of June 30, 2017). The largest direct investment came from Sweden (25.6%) and Finland (23.5%). The most preferred fields of activity for foreign direct investment in Estonia were financial and insurance activities (27%), real estate activities (18%) and manufacturing (14%). 

 

Direct Investment Position in Estonia by Countries as of 30 June 2017

Country

Million EUR

% of total

EU28

15 695.1

83.8

Euro-zone 19

9 370.2

50.0

CIS

879.7

 4.7

1.Sweden

4 794.8

25.6

2. Finland

4 403.9

23.5

3. Netherlands

1 609.2

  8.6

4. Lithuania

   720.3

  3.8

5. Luxembourg

   665.4

  3.6

6. Russia

   631.3

  3.4

7. Latvia

   625.8

  3.3

8. Cyprus

   621.6

  3.3

9. Norway

   503.1

  2.7

10. Denmark

   444.5

  2.4

Others

15 020

19.9

Total

18 740

100.0

 

Estonian residents investment abroad totalled 6.4 billion euros (as of June 30, 2017). Lithuania has received 21% of the direct investment, Cyprus 21% and Latvia 17%.

 

Estonia´s Direct Investment Position abroad by Countries as of 30 June 2017

Country

Million EUR

% of total

EU28

5 352.2

84.0

Euro-zone 19

4 906.4

77.0

CIS

  652.2

10.2

1.Lithuania

1 317.4

20.7

2.Cyprus

1 303.8

20.5

3.Latvia

1 107.7

17.4

4.Finland

   533.5

  8.4

5. Russia

   275.1

  4.3

6. Ukraine

   256.5

  4.0

7. Netherlands

   207.7

  3.3

8. Poland

   125.9

  2.0

9.Italy

   109.1

  1.7

10. Sweden

     99.4

  1.6

Others

5336.1

16.2

Total

6 368.0

100.0