Estonia - International trade



Estonia benefits from its location between prosperous Finland and Sweden and the economic potential of Russia. Estonians, both Nordic in culture and experienced in working with Russia, can provide a bridge between these growing markets. Estonia's open economy, although constrained by the currency board, is export-oriented, but still unable to reduce its foreign trade deficit of about 12 to 13 percent of gross domestic product. Exports in 1999 amounted to US$2.5 billion, while imports stood at US$3.4 billion. In 1999 chief exports included electronic components, machinery, and appliances (19 percent), wood products (15 percent), textiles (13 percent), food products (12 percent), metals (10 percent), and chemical products (8 percent). Estonia's leading export markets were Sweden (19.3 percent), Finland (18.8 percent), Russia (8.8 percent), Latvia (8.8 percent), Germany (7.3 percent), and the United States (2.5 percent). Chief imports included machinery and appliances (26 percent), food (15 percent), chemical products (10 percent), metal products (9 percent), and textiles (8 percent). Leading suppliers of imports were Finland (23 percent), Russia (13.2 percent), Sweden (10 percent), Germany (9.1 percent), and the United States (4.7 percent).

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