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GENERAL STATISTICS 2016-2017

19.04.2017

According to Statistics Estonia, in 2016, the GDP of Estonia increased 1.6% compared to 2015. In 2016, the GDP at current prices was 20.9 billion euros. The year was characterised by a slow but steady growth of the GDP. In different quarters of 2016, the increase in value added in the activities of trade, information and communication as well as transportation influenced the growth of the Estonian economy the most. In the last three years, transportation slowed the economy the most, and its decline continued in the 1st quarter. However, from the 2nd quarter onwards transportation contributed positively to the GDP growth at real prices.

In 2016, more than half of economic activities influenced the economy positively. Information and communication contributed to the increase of the GDP the most due to the strong growth in software development services. The growth of value added of trade was the highest in the comparison of the last four years mainly due to a stable growth in retail and wholesale trade. Although the value added of the largest Estonian activity, manufacturing, decreased in the 1st quarter, the value added increased 0.8% in total in 2016.

Full press release available: http://www.stat.ee/news-release-2017-022

According to Statistics Estonia, in 2016, the exports and imports of goods increased by 3% each compared to 2015. The last time trade grew in comparison of years was in 2012. In 2016 exports of goods from Estonia amounted to 11.9 billion euros and imports to 13.5 billion euros at current prices. In 2016 78% of Estonia’s total trade was with EU member countries. Estonia’s main trade partners are Finland (14,4%), Sweden (12,8%), Latvia (8,8%) and Germany (8,6%). The main countries of destination were Sweden (18% of Estonia´s total exports), Finland (16%), Latvia (9%), Russia (6%), Lithuania (6%) and the main countries of consignment were Finland (13%), Germany (11%), Lithuania (10%), Latvia (8%) and Sweden (8%).

Similarly to previous years, electrical equipment was exported the most, accounting 22% of Estonia´s total exports in 2016. This was followed by the exports of wood and articles of wood (10%), agricultural products and food preparations (9%) and miscellaneous manufactured articles (9%). In 2016, the main commodity imported to Estonia was electrical equipment (18% of Estonia´s total imports). The second and third places were held by transport equipment (11%) and agricultural products and food preparations (11%).

Full press release available: http://www.stat.ee/news-release-2017-018

Main Trade Partners in 2016, as a % of total trade

Country

Exports

Country

Imports

1. Sweden

17.9

1. Finland

13.0

2. Finland

16.0

2. Germany

11.0

3. Latvia

9.2

3. Lithuania

9.5

4. Russia

6.5

4. Latvia

8.4

5. Lithuania

6.0

5. Sweden

8.3

6. Germany

5.9

6. Poland

7.2

7. Norway

4.1

7. Netherlands

6.3

8. Denmark

3.2

8. Russia

5.5

9. Netherlands

2.8

9. China

4.1

10. USA

2.7

10. Italy

2.6

Others

25.8

Others

24.0

More information available here http://www.tradewithestonia.com/. Website www.tradewithestonia.com is an Estonian public sector (Enterprise Estonia) service designed to offer information about Estonian companies. Through the page you can contact directly either Estonian companies or export consultant to get specific information about Estonian services, products and companies. Foreign Investments (Bank of Estonia)

Foreign direct Investment in Estonia totalled 18.2 billion euros at the end of 2016. The largest direct investments came from Sweden (25.6%) and Finland (23%). The most preferred fields of activity for foreign direct investment in Estonia were financial and insurance activities (27.5%), real estate activities (18.2%) and manufacturing (13.7%).

Direct Investment Position in Estonia Direct Investment Position abroad

by Countries as of 31 December 2016 by countries as of 31 December 2016

Country

Million EUR

% of total

Country

Million EUR

% of total

EU28

15 173.6

83.3

EU28

5 199.7

85.0

Euro-zone 19

9 613.0

52.8

Euro-zone 19

4 7 61.2

77.8

CIS

913.6

5.0

CIS

627.5

10.3

1.Sweden

4 663.3

25.6

1.Lithuania

1 276.0

20.9

2.Finland

4 188.9

23.0

2.Cyprus

1 253.4

20.5

3.Netherlands

1 713.3

9.4

3.Latvia

1 186.6

19.4

4. Lithuania

681.4

3.7

4.Finland

409.9

6.7

5. Russia

677.8

3.7

5. Russia

267.4

4.4

6. Latvia

636.8

3.5

6. Ukraine

238.5

3.9

7. Cyprus

619.2

3.4

7.Netherlands

221.1

3.6

8. Luxembourg

490.5

2.7

8.Poland

129.6

2.1

9. Denmark

481.3

2.6

9.Italy

106.6

1.7

10. Norway

451.1

2.5

10.Sweden

97.3

1.6

Others

3 614.8

19.9

Others

5 186.4

15.2

Total

18 208.4

100.0

Total

6 117.8

100.0

Source: Bank of Estonia www.eestipank.ee

Estonian resident’s investment abroad totalled 6.1 billion euros at the end of 2016. Lithuania has received 20.9% of the direct investment, Cyprus 21.8% and Latvia 18.9%. The most preferred fields of activity were administrative and support service activities (20.7%), manufacturing (15.9%) and real estate activities (13.5%).

More information available here: http://www.investinestonia.com/en/ (The Estonian Investment Agency, a part of Enterprise Estonia, is a government agency promoting foreign investments in Estonia and assisting international companies in finding business opportunities in Estonia).

Tourism

In 2016, 2 million foreign tourists used the services of accommodation establishments (7% more than in 2015). 46% of all accommodated foreign tourists arrived from Finland (5% more than in 2015), 10% from Russia (8% more than in 2015) and 7% from Latvia (11% more than in 2015). Also, there was an increase in the number of accommodated tourists from Germany, Sweden and Lithuania. The number of tourists arriving from Asian countries increased throughout the year. 73% of the accommodated foreign tourists came to Estonia for holidays, 21% were on a business trip and the rest had some other reason for visiting Estonia.

Full press release available: http://www.stat.ee/news-release-2017-016

More information available here: https://visitestonia.com/en/

OTHER INFORMATION

Doing business and investing in Estonia 2017 (PwC guide opens up the opportunities for doing business and investing in Estonia) - http://www.pwc.com/ee/et/publications/DoingBusinessinEstonia/Doing%20Business%202017.pdf

Life in Estonia - (is a quarterly magazine, which covers all Estonian walks of life – from economy to society, from culture to tourism. It focuses on in-depth coverage rather than short news value. The magazine is directed to all readers who are interested in Estonia. Each issue has a specific emphasis on certain topics like ICT, personal medicine, energy, etc).

Spring 2017 - http://investinestonia.com/images/PDF/LIE_spring_2017_ISSUU.pdf

Winter 2017 - http://investinestonia.com/images/PDF/LIE_winter_2017_ISSUU.pdf

Read the Life in Estonia online: http://www.investinestonia.com/en/publications/life-in-estonia

Estonian Literary Magazine spring issue 2017 (The biannual Estonian Literary Magazine introduces past and present Estonian writers and poets and reviews new books).

The spring issue of the Estonian Literary Magazine has been published in time for the London Book Fair. The fresh number offers several portrait stories: Berk Vaher writes about his favourite writer, the luminary of Estonian magic realism, Nikolai Baturin, Jan Kaus gives an overview of the colourful personality and creation of the European Union Prize for Literature laureate Paavo Matsin. There is also an interview with one of the brightest Estonian writers of the recent years, Indrek Koff.The number of translation samples already increased in the previous edition, this trait is continued. Adam Cullen has completed three fresh translations: from Paavo Matsin’s book “The Gogol Disco”, Indrek Koff’s “Saja rahva lood” (“Stories of a Hundred Nations”) and Mihkel Mutt’s work “Eesti ümberlõikaja” (“The Estonian Circumciser”). In addition to portraits, one of the most interesting story writers of the recent years, Mait Vaik, writes about his five favourite books in the Estonian literature. Carolina Pihelgas gives an overview of the most influential female voices of Estonian poetry of the recent times, among them Eda Ahi, Helena Läks, Sveta Grigorjeva, Silvia Urgas and Kelly Turk.

http://dev.booklet.ee/eesti-instituut/wp-content/uploads/2017/03/610_ELM_2017_1_www_150.pdf

Estonian Art Magazine spring issue 2017 (The biannual Magazine Estonian Art reflects today’s tendencies in Estonian art and architecture, and offers glimpses into our art history).

Estonian Art Focuses on Katja Novitskova and Post-Internet Art. In homage to the internationally acclaimed Estonian artist Katja Novitskova representing Estonia with ‘If Only You Could See What I’ve Seen with Your Eyes’ at the 57th Venice Biennale, we dig into the influential international art movement known as post-internet art. Post-internet art can be defined as all art that has been influenced by network culture and acknowledges the influence of the cyber, the digital and the glowing, pervasive screen.

http://estinst.ee/wp-content/uploads/2017/04/612_EstonianArt2017-1_web.pdf

Estonian History in Pictures. Estonian Institute’s choice of key events in the Estonian history; to refresh your memory, or to act as a starting point for a bout of interest. Text by: Estonian Institute and Priit Raudkivi.

http://estinst.ee/en/prints/estonian-history-in-pictures/ or http://estinst.ee/wp-content/uploads/2017/03/606_2016-ENG-ajalugu-veebi.pdf

Joint Estonia 100 and Estonian EU Presidency international programme- https://ev100.ee/en/international_programme

First events of the international culture programme are now up to celebrate Estonia's first term as the presidency of the Council of the European Union and centenary. Each week will bring more new exciting events to attend all around Europe.

Read more about the International programme: https://ev100.ee/en/estonia-introduce-its-culture-arts-and-science-europe

Estonia 100 app brings together everyone who carries Estonia in their heart.

You can now download the app which serves as a gateway to all the latest Estonia 100 news and events, and lets you save events on your own personal calendar. When you press the heart icon on the app, your location will be marked by a little glowing dot on the map. This way, everyone in Estonia and everyone abroad can let others know where they are and that they are thinking about Estonia.

https://ev100.ee/en/estonia-100-app-brings-together-everyone-who-carries-estonia-their-heart

Estonian Research 2016 (The Estonian Research 2016 overviews the development of Estonian research during the past decade focusing on the last couple of years. The report covers such topics as financial and human resources for Estonian research, results, and International dimension. The publication also includes short articles about currently most relevant issues for Estonian research).

http://www.etag.ee/wp-content/uploads/2015/12/TA_teaduskogumik_ENG_veeb.pdf

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