OVERVIEW
Estonia is a small country located in Northern Europe known for its digital leadership, medieval towns and strong connection to nature.
Its capital, Tallinn, blends an ancient charm with a modern tech scene, and this is one of the reasons why it’s one of the most innovative and forward-thinking nation in the Baltic region.
In 2023, Estonia ranked
- 101st in terms of GDP, currently valued as $41.3B, out of 195 economies in the world;
- 80th in terms of total exports out of 226 countries;
- 47th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.
ECONOMIC COMPLEXITY RANKING
EXPORT
In 2023 it was estimated that the principal products that were exported from Estonia were
- Cars - $1.02B;
- Broadcasting Equipment - $879M;
- Refined Petroleum - $782M;
- Prefabricated Buildings - $421M;
- Fuel Wood - $402M.
On the other hand, the commonest destinations for Estonia exports were
- Finland - $2.71B;
- Latvia - $1.91B;
- Lithuania - $1.74B;
- Sweden - $1.45B;
- Russia - $1.18B.
IMPORT
In 2023 the most imported products from other countries to Estonia were
- Cars - $1.68B;
- Refined Petroleum - $957M;
- Broadcasting Equipment - $622M;
- Petroleum Gas - $561M;
- Packaged Medicaments - $549M.
These goods are mainly produced by
- Finland - $2.4B;
- Germany - $2.38B;
- China - $2.11B;
- Lithuania - $1.4B;
- Poland - $1.32B.
Lastly, in the latest year it was revealed that the country was the world’s largest importer of Chromium Oxides and Hydroxides, with an estimated amount of $115M.
YEARLY TRADE
During the last five reported years, the exports of Estonia have increased by $2.61B from $17.9B in 2018 to $20.5B in 2023.
The most recent exports are led by
- Cars - $1.03B;
- Telephones - $1.01B;
- Refined Petroleum - $711M;
- Prefabricated Buildings - $438M;
- Fuel Wood - $407M.
They were exported primarily to
- Finland - $2.86B;
- Latvia - $1.95B;
- Lithuania - $1.75B;
- Sweden - $1.54B;
- Russia - $1.18B.
CONCLUSIONS
Estonia may be a small country, but it isn’t forgotten due to its creativity and forward-thinking actions. Its journey from the Soviet rule to the digital leadership is a story of transformation and vision.
We are in front of a place where beautiful landscapes, traditions and nature walk hand in hand with the glimpse of a more technological and resilient future.
Source: https://oec.world/en
