Estonia flag Estonia: Economic and Political Overview

Foreign trade figures of Estonia

Foreign Trade in Figures

Estonia is considered one of the most liberal countries in the world and is very open to trade, which represents 155% 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 2023, the country exported goods worth USD 19.6 billion (-12.1% y-o-y), while imports totalled USD 22.9 billion (-12.7%). In terms of services, Estonia is a net exporter: in 2023, exports reached USD 12.4 billion against USD 9.6 billion in imports. According to Statistics Estonia, in 2024, exports of goods totalled EUR 17.4 billion, while imports reached EUR 20.7 billion at current prices. The trade deficit was EUR 3.3 billion, which is EUR 275 million higher than in 2023.

 
Foreign Trade Values 20202021202220232024
Imports of Goods (million USD) 17,32423,61326,76322,85622,350
Exports of Goods (million USD) 16,34021,56022,85919,63318,838
Imports of Services (million USD) 6,3469,0089,0699,81510,306
Exports of Services (million USD) 6,46710,11411,54712,62013,447

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

Foreign Trade Indicators 20202021202220232024
Foreign Trade (in % of GDP) 137.4160.4174.6154.9152.0
Trade Balance (million USD) -477-1,613-2,961-2,465-2,910
Trade Balance (Including Service) (million USD) -416-529-476351262
Imports of Goods and Services (Annual % Change) 0.822.75.0-6.70.0
Exports of Goods and Services (Annual % Change) -4.122.15.0-9.0-1.1
Imports of Goods and Services (in % of GDP) 69.280.887.977.075.7
Exports of Goods and Services (in % of GDP) 68.279.586.777.976.3

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2025 (e)2026 (e)2027 (e)2028 (e)2029 (e)
Volume of exports of goods and services (Annual % change) 0.71.62.02.32.1
Volume of imports of goods and services (Annual % change) 1.01.41.41.61.9

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)
2024
Finland 15.2%
Latvia 10.7%
Sweden 8.5%
Lithuania 7.8%
Germany 7.0%
See More Countries 50.7%
Main Suppliers
(% of Imports)
2024
Germany 11.3%
China 10.2%
Finland 8.3%
Lithuania 6.4%
Poland 6.3%
See More Countries 57.5%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

19.8 bn USD of products exported in 2024
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) 5.8%
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) 4.5%
Builders' joinery and carpentry, of wood, incl....Builders' joinery and carpentry, of wood, incl. cellular wood panels, assembled flooring panels, shingles and shakes, of wood (excl. plywood panelling, blocks, strips and friezes for parquet flooring, not assembled, and pre-fabricated buildings) 2.1%
Prefabricated buildings, whether or not complete...Prefabricated buildings, whether or not complete or already assembled 1.9%
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 1.9%
See More Products 83.8%
22.7 bn USD of products imported in 2024
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) 7.9%
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 4.3%
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) 3.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.1%
Electrical energyElectrical energy 2.3%
See More Products 79.0%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

13.5 bn USD of services exported in 2024
28.82%
25.69%
20.92%
12.07%
3.11%
2.70%
2.55%
1.46%
1.30%
0.72%
0.52%
0.14%
10.3 bn USD of services imported in 2024
30.54%
26.43%
19.61%
14.42%
1.92%
1.36%
1.23%
1.22%
1.20%
1.08%
0.60%
0.37%

Source: United Nations Statistics Division, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: October 2025