Business Relations

Ireland ranks as Estonia’s 32nd-36th 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 36th trading partner in 2018 (turnover 69,7 mln euros, 0,2% of total trade). Estonian exports to Ireland made up 17,5 mln euros and import from Ireland 52,2 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 ranks as 48th and as an import partner, Ireland ranks as 29th.

Trade between Estonia and Ireland in 2014-2018 (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% 75.6 0.5% 89.6 0.3%
2018
17.5 0.1% 52.2 0.3% 69.7 0.2%

All economic figures originate from the Statistical Office of Estonia

Main export articles in 2018:

  • Wood and wooden products – 32.1%
  • Chemical products – 17.7%
  • Other manufactured goods – 13.4%

Main import articles in 2018:

  • Machinery and equipment – 64.9%
  • Chemical (including pharmaceutical) products – 8.4%

INVESTMENTS

According to data from the Bank of Estonia, as of 31.12.2018, Irish companies had made investments totalling 92.2 million euros in Estonia. Most Irish investments were made in real estate, finance and insurance.

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 31.12.2018, Estonian companies had invested approximately 1.3 million euros in Ireland, mainly in the wholesale and retail trade, ICT, real estate and professional, scientific and technical activities.

TOURISM

Interest among Irish residents towards Estonia has been steadily increasing over the years. There were 9,800 visits in 2018, compared to 8,100 in 2016. Over 70% of the visits to Estonia were several days long and on average lasted for approximately 5,1 days. 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.

Estonian residents made 7,300 visits to Ireland in 2018, compared to almost 8,000 in 2017. Most of the visits lasted for mutliple days and Estonian residents spent on average 4,9 days in the country.