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ESTONIA

Global Trade Volume of Estonia

Estonia is a middle-income country that has been seen as attractive by investors in recent years. PraeGlobal provides effective counselling services in an EU member country such as Estonia. The fact that it is a small country is not very attractive in terms of investments in the production of consumer goods.  However, the fact that it is a country open to innovation and provides business environment for new investments makes Estonia a good market for high-tech production. Per capita GSYIH (Gross Domestic Product) is higher than other Baltic countries. However, it is behind of Slovenia, Czechia and Slovakia.

2012 2013 2014 2015 2016 2017
Population (million) 1,323 1,318 1,315 1,315 1,316 1,31
Per capita

Gross Domestic Product ($)

17.421,89 19.029,77 19.941,46 17.074,92 17.574,69 19.618,31
Gross Domestic Product (billion $) 23,04 25,08 26,21 22,46 23,14 25,68
Export (million $) 18.161 18.284 17.465 13.902 13.967 14.020
Importation  (million $) 20.070 20.186 20.184 15.740 15.665 15.310
Jobless rate 10,6 9,7 8,6 6,4 6,4 7,3

The Economic Situation

In the 1990s, Estonia, which produced contract manufacturing for foreign companies, provided cheap workers to apparel and textile businesses. Organizational structure has also changed as a result of the change in labour market. Estonia Textile companies now have subcontractors in Russia, Lithuania, Latvia and China. 20.6% of the total workforce is employed in the industrial sector. The share of employment in the agricultural sector is 4.4%.

Traiding Qualities

  1. Cryptocurrency

    İçerik eklenecek…

  2. Forestry Sector

    Since the 1990s, forests are the most important natural source of Estonia, which has increased forestry activities. While 23.6% of the manufacturing sector is in this sector, only 1.5% of the working population is employed in the forestry sector. Forestry sector is a very competitive sector. The doors are closed for new players. Estonia’s largest export markets are Finland, Germany, England, France and Denmark.

  3. Food Industry Sector

    One of the most important production branches of Estonia is the food sector. Estonia’s EU membership positively influences food industry. Thus, exports to EU countries increased. In return, raw material supply has become easier. The largest branches of food production are beverages, milk and dairy products and meat. In 2007, 28.4% of food production consisted of milk and milk products, 20.7% of beverage industry and 18% of meat products. There are generally companies with foreign capital in food industry.

  4. Construction Industry Sector

    The construction industry, which has an important place in the Estonian economy, has grown in recent years. Estonia, the first country to leave the USSR and declare its independence, has rapidly increased its welfare level because it has already established its infrastructure. While the foundation of housing is laid in the country, half of its customers are found. Most of the raw materials used in the Estonian construction industry are produced. In general, ceramic products and decoration products are imported.

  5. Electronic Industry Sector

    The history of electronics industry is based on many years ago. The first telephone factory was established in 1907 in the country. In this factory, 13 thousand telephones were produced during World War I. The electronic sector, which is the fastest growing sector, is not directly affected by foreign investments. The electronic sector is growing so fast that it has grown 15 times over the last 10 years. The most import in the electronics sector is from Germany, Taiwan, Finland and Sweden. Products subject to trade are electronic circuit and computers. Products subject to electronic production include electrical machinery, telecommunications equipment, medical and optical equipment and office equipment.

  6. Telecommunications

    In Estonia, which has a growing market, there are more mobile phone lines than the population. More than half of its population is the Internet user. Electronic banking is one of the leading countries in terms of the number of computers. There are 19 airports in the country. There are direct flights to Europe from these airports. Because of the geographical position of the country is advantageous, it makes Estonia an important center in logistics activities. Railways stand out in cargo transportation. Passenger transportation is also carried out by road.

  7. Chemical and Pharmaceutical Industry Sector

    Estonia chemical industry is a growing sector. It is generally export oriented. The trade of products such as paints, organic chemicals, schist, fertilizers and medicines is mostly done. Moreover, the products obtained from oil and oil are important in the industry. Products such as gasoline, adhesives, resin formaldehyde are in the chemical industry based on petroleum.

  8. Chemical and Pharmaceutical Industry Sector

    Estonia chemical industry is a growing sector. It is generally export oriented. The trade of products such as paints, organic chemicals, schist, fertilizers and medicines is mostly done. Moreover, the products obtained from oil and oil are important in the industry. Products such as gasoline, adhesives, resin formaldehyde are in the chemical industry based on petroleum.

  9. Biotechnology Sector

    In this sector, which is one of the most ambitious areas, genetic and cancer research studies are carried out. Supported by the state, this sector plays an important role in the development of the country. Laws related to the sector are EU-compliant. It is very advantageous to invest in this sector alongside state support.

If you want to develop business in this small but advanced country of Europe, we are ready to offer you consultancy services as PraeGlobal. We are ready to share our experience and knowledge with you, dominating all the legal and economic possibilities in the country. We are ready to provide all kinds of consultancy services in the process of establishment of your company.

With PraeGlobal’s active staff, you will feel like you are at home even you are in abroad.

Contact Informations

PraeGlobal OÜ

Mõisa street 4, Rocca Al Maja Plaza 7 floor no:16 EE-13522 Tallinn Estonia

www.praeglobal.com

info@praeglobal.com

+90 212 212 22 35 | +90 312 284 13 00 | +372 589 78198