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2021
Economic Complexity
Technology -0.19Rank 54 of 96
2022
Economic Complexity
Research 0.03Rank 52 of 135
2022
Product
Exports | Imports $23.1B | $27.1B74 of 226 |  78 of 226
2022
Per Capita Product
Exports | Imports $17.1k | $20.1k24 of 220 |  24 of 220

About

Overview In 2022 Estonia was the number 74 economy in the world in terms of total exports and the number 78 in total imports.

Exports The top exports of Estonia are Electricity ($1.15B), Broadcasting Equipment ($1.15B), Refined Petroleum ($1.11B), Coal Tar Oil ($806M), and Cars ($615M), exporting mostly to Finland ($3B), Latvia ($2.77B), Sweden ($1.9B), Lithuania ($1.51B), and Russia ($1.38B).

Imports The top imports of Estonia are Refined Petroleum ($1.97B), Cars ($1.63B), Electricity ($962M), Petroleum Gas ($757M), and Coal Tar Oil ($723M), importing mostly from Finland ($3.58B), Germany ($2.59B), Lithuania ($2.27B), Latvia ($2.26B), and Russia ($2.1B).

In 2022, Estonia was the world's biggest importer of Chromium Oxides and Hydroxides ($100M)

Location Estonia borders Latvia and Russia by land and Finland and Sweden by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Estonia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Electricity$1.15B
Top Destination (2022)Finland$3B

In 2022, Estonia exported a total of $23.1B, making it the number 74 exporter in the world. During the last five reported years the exports of Estonia have changed by $7.2B from $15.9B in 2017 to $23.1B in 2022.

The most recent exports are led by Electricity ($1.15B), Broadcasting Equipment ($1.15B), Refined Petroleum ($1.11B), Coal Tar Oil ($806M), and Cars ($615M). The most common destination for the exports of Estonia are Finland ($3B), Latvia ($2.77B), Sweden ($1.9B), Lithuania ($1.51B), and Russia ($1.38B).

Explore Visualizations

Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Latvia$825M (+ 42.4%)
Finland$288M (+ 10.6%)
Lithuania$223M (+ 17.3%)
Fastest Growing Import Markets (2021 - 2022)
Finland$948M (+ 36.1%)
Lithuania$622M (+ 37.6%)
Latvia$462M (+ 25.7%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Estonia Exports Services (2020)$5.33B
Estonia Imports Services (2020)$3.87B

In 2020, Estonia exported $5.33B worth of services. The top services exported by Estonia in 2020 were Miscellaneous business, professional, and technical services ($1.73B), Other transport ($785M), Sea transport ($666M), Construction abroad ($483M), and Personal travel ($452M).

The top services imported by Estonia in 2020 were Miscellaneous business, professional, and technical services ($976M), Other transport ($651M), Sea transport ($504M), Personal travel ($406M), and Air transport ($263M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Technology)-0.19Rank 54 of 96
Economic Complexity (Research)0.03Rank 52 of 135

Most Specialized Products by RCA Index

Estonia has a high level of specialization in Peat (86.7), Coin (65.8), Semi chemical Woodpulp (53.8), Shaped Wood (52.1), and Prefabricated Buildings (50.5). Specialization is measured using RCA, an index that takes the ratio between Estonia observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Estonia according to the relatedness index, were Chocolate (0.34), Scrap Lead (0.34), Flavored Water (0.34), Malt (0.34), and Water (0.34). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Estonia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Estonia. These are products that tend to be co-exported with the products that Estonia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

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