Business Relations

Ireland ranks as Estonia’s 32nd-35th main trading partner.

TRADE

Trade between Ireland and Estonia has grown in the past years, mostly on account of rising imports. According to the data of Statistics Estonia, Ireland ranked as Estonia’s 34th trading partner in 2017 (0,3% of total trade). Estonian exports to Ireland made up 13,9 mln euros and import from Ireland 75,7 mln euros. During the last couple of years, Estonian export to Ireland has declined due to a reduction in the export of plants and plant products, wood and wooden products and machinery and equipment. The export of goods of an Estonian origin has also declined – 95% share in 2014, 79% share in 2017.

Among our main export partners, Ireland has come down to the 50th place. As an import partner, Ireland ranks as 26th.

Trade between Estonia and Ireland in 2006-2018 (million euros):

Year Export % Import % Turnover %l
2014 24.9 0.2% 36.3 0.3% 61.2 0.2%
2015 19.6 0.2% 44.3 0.3% 63.9 0.3%
2016 17.7 0.2% 49.5 0.4% 67.2 0.3%
2017 14.0 0.1% 75.7 0.5% 89.7 0.3%
2018/11 months 16.3 0.1% 48.2 0.3% 64.5 0.2%

All economic figures originate from the Statistical Office of Estonia

Main export articles in 2017:

  • Wood and wooden products – 36%
  • Machinery and equipment – 21%
  • Other manufactured goods – 16%

Main import articles in 2017:

  • Machinery and equipment – 44%
  • Transportation vehicles – 33%

INVESTMENTS

According to data from the Bank of Estonia, as of 31.12.2017, Irish companies had made investments totalling -(minus) 49 million euros in Estonia. Most Irish investments were made in real estate, finance and insurance and information and communications.

According to the Estonian Commercial Register, there were 102 businesses with Irish capital registered in Estonia, as of May 2018. The largest Irish investments are in enterprises such as Domina Vacanze Holding (Pro Kapital), Baltic Advisor (financial consulting), Eesti ERA (agriculture), Saka ERA (agriculture), OÜ Kserum Trans Service (construction works).

As of 31.12.2017, Estonian companies had invested approximately 2 million euros in Ireland, mainly in the manufacturing industry, wholesale and retail trade, ICT and real estate.

TOURISM

The total number of Irish tourists visiting Estonia has been rising since 2015 – in 2017 it reached 9258. The average stay lasted for approximately 4 nights. Most popular destinations alongside Tallinn were Tartu county and Pärnu county.

In December 2010, Ryanair established a direct flight route between Tallinn and Dublin, which has worked in favour of increasing the number of visitors from Ireland.

The total number of vistis from Estonia to Ireland has remained relatively stable throughout the recent years – about 7800-7900 visits are done per year.