A northern European nation that shares its southern border with Latvia, the Republic of Estonia shipped US$19.8 billion worth of products around the world in 2024.

That dollar amount results from a 17% upturn from $16.9 billion 5 years earlier in 2020.

Year over year, the overall value of goods exported from Estonia fell by -1.7% starting from $20.1 billion for 2023.

Based on the average exchange rate for 2024, Estonia uses the euro which flatlined via a 0.02% gain against the US dollar from 2023 to 2024. The slightly stronger European Union currency made Estonia’s exports paid for in weaker US dollars modestly more expensive for international buyers.

Where Estonia’s Top Trading Partners Are Located

The latest available country-specific data shows that 73.9% of products exported from Estonia was bought by importers in: Finland (15.2% of the Estonian total), Latvia (10.7%), Sweden (8.5%), Lithuania (7.8%), Germany (7%), Russia (5.2%), United States of America (4%), Netherlands (3.7%), Poland (3.5%), Norway (3.1%), Denmark (2.7%) and the United Kingdom (2.3%).

From a continental perspective, 85% of Estonia exports by value was delivered to fellow European countries while 8.5% was sold to importers in Asia. Estonia shipped another 4.9% worth of goods to buyers in North America.

Tinier percentages went to customers in Africa (0.9%), Latin America (0.5%) excluding Mexico but including the Caribbean, then Oceania (0.3%) led by Australia and New Zealand.

In addition, Estonia has been a member of the European Union since May 1, 2004. Estonian exports to the EU amounted to 70.1% of Estonia’s overall exports total.

Given Estonia’s population of 1.371 million people, its total US$19.8 billion in 2024 exports translates to roughly $14,400 for every resident in the northern European country. That per-capita dollar amount lags the average $16,800 in 2023.

Estonia’s Top 10 Exports

The following export product groups represent the highest dollar value in Estonian global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Estonia.

1. Electrical machinery, equipment: US$2.9 billion (14.8% of total exports)
2. Wood: $2.1 billion (10.7%)
3. Machinery including computers: $1.72 billion (8.7%)
4. Vehicles: $1.68 billion (8.5%)
5. Mineral fuels including oil: $1.55 billion (7.8%)
6. Furniture, bedding, lighting, signs, prefab buildings: $1.1 billion (5.5%)
7. Articles of iron or steel: $781.5 million (4%)
8. Optical, technical, medical apparatus: $624.8 million (3.2%)
9. Plastics, plastic articles: $495.9 million (2.5%)
10. Animal/vegetable fats, oils, waxes: $479.9 million (2.4%)

Estonia’s top 10 export product categories generated over two-thirds (68%) of the overall value of its global shipments.

Optical, technical and medical apparatus represent the fastest grower among the top 10 export categories, up by 5.7% from 2023 to 2024.

In second place for improving export sales was electrical machinery and equipment which advanced by 4.4%.

Estonia’s shipments of wood posted the remaining upturn in value, up by 0.6%.

Double-digit percentage decliners among Estonia’s top 10 export categories were the animal or vegetable fats, oils and waxes (down -13.3% from 2023) and the mineral fuels including oil groupings (down -12.7%).

At the more detailed four-digit Harmonized Tariff System (HTS) code level, Estonia’s most valuable exports are phone devices including smartphones (5.8% of the Estonian total), cars (4.5%), wood carpentry and joinery (2.1%), prefabricated buildings (1.9%), refined petroleum oils (1.9%), fuel wood, wood chips and sawdust (also 1.9%), high-temperature distilled coal tar oils (1.8%), electrical energy (1.6%), palm oil (1.4%), then shaped wood (also 1.4%).

Products Generating Estonia’s Greatest Trade Surpluses

The following types of Estonian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Wood: US$1.4 billion (Up by 1.7% since 2023)
2. Furniture, bedding, lighting, signs, prefab buildings: $767.6 million (Down by -10.8%)
3. Dairy, eggs, honey: $215.9 million (Up by 21.2%)
4. Cereals: $180.7 million (Down by -10.2%)
5. Articles of iron or steel: $172.3 million (Down by -3.2%)
6. Animal/vegetable fats, oils, waxes: $132.5 million (Down by -18.3%)
7. Optical, technical, medical apparatus: $111.8 million (Up by 63.2%)
8. Woodpulp: $97.9 million (Up by 6.8%)
9. Books, newspapers, pictures: $67.6 million (Down by -17.2%)
10. Live animals: $46.3 million (Down by -17.4%)

Estonia has highly positive net exports in the international trade of lumber. In turn, these cashflows indicate Estonia’s strong competitive advantages under the wood-related product categories.

Products Causing Estonia’s Biggest Trade Deficits

Estonia incurred an overall -US$2.9 billion trade deficit during 2024, slowing by -12.9% from -$3.3 billion in red ink one year earlier for 2023.

Below are exports from Estonia that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Estonia’s goods trail Estonian importer spending on foreign products.

1. Vehicles: -US$1.1 billion (Up by 2.5% since 2023)
2. Pharmaceuticals: -$740.4 million (Up by 14.3%)
3. Mineral fuels including oil: -$529.2 million (Down by -31.4%)
4. Plastics, plastic articles: -$357.5 million (Up by 3.3%)
5. Iron, steel: -$323.8 million (Down by -4.1%)
6. Machinery including computers: -$265.4 million (Down by -42.7%)
7. Arms, ammunition: -$210.3 million (Up by 38.2%)
8. Beverages, spirits, vinegar: -$205.2 million (Up by 20%)
9. Inorganic chemicals: -$158.2 million (Up by 27.7%)
10. Fruits, nuts: -$142.6 million (Up by 6.8%)

Historically, Estonia posts highly negative net exports and therefore deep international trade deficits for cars and, to a lesser extent, tractors, trucks, tanks and motorcycles.

These cashflow deficiencies clearly indicate Estonia’s competitive disadvantages in the international vehicles market, but also represent key opportunities for Estonia to improve its position in the global economy through focused innovations.

Estonian Export Companies

Given that Estonia is an emerging economy, it should come as no surprise that not one Estonian corporation appears on the Forbes Global 2000 list.

Wikipedia does outline some Estonian exports-related companies. Selected examples are shown below.

• Estonia Piano Factory (pianos)
• Liviko (vodka, other alcoholic beverages)
• Narva Oil Plant (shale oil)
• Rakvere Lihakombinaat (meat products)
• Rexer Ltd (automobiles)
• Saku Brewery (beer, cider, soft drinks, water)
• Tartu Mill AS (grains)
• Tondi Elektroonika (hearing aids)

 
In macroeconomic terms, Estonia’s total exported goods represent 30% of its overall Gross Domestic Product for 2024 ($66 billion valued in Purchasing Power Parity US dollars). That 30% for exports to overall GDP in PPP for 2024 compares to 31.1% one year earlier. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Estonia’s total economic performance, albeit based on a short timeline.

Another key indicator of a country’s economic performance is its unemployment rate. Estonia’s unemployment rate averaged 7.501% in 2024, up from an average 6.376% one year earlier in 2023 according to International Monetary Fund statistics.

Estonia’s capital city is Tallinn.

See also Finland’s Top 10 Exports, United States Top 10 Exports, America’s Top Trading Partners, Top United States Trade Balances and Top EU Export Countries

Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on January 27, 2026

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on January 27, 2026

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on January 27, 2026

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on January 27, 2026

International Trade Centre, Trade Map. Accessed on January 27, 2026

Investopedia, Net Exports Definition. Accessed on January 27, 2026

Wikipedia, Gross domestic product. Accessed on January 27, 2026

Wikipedia, List of Companies of Estonia. Accessed on January 27, 2026

Wikipedia, Purchasing power parity. Accessed on January 27, 2026