Business Relations

Economic Relations

Trade

During past decade, the Netherlands has steadily been among Estonia’s top ten trade partners (7-9th place). According to the Estonian Statistics Office, the Netherlands positioned on 7th place in 2017. Trade turnover was 1.345 billion euros, which was 4.9% of Estonia’s total foreign trade volume (compared to 1,18 million euros the year before). The exports counted for 472 mln (3,7% of Estonian total exports in 2017) and the imports for 873 million euros (5,9% of total imports). The export to the Netherlands grew most among our TOP 15 trading partners – 44% – mostly thanks to the increase in mineral products (+128 million euros compared to 2016), and vegetable products (+21 million euros) exports. The share of Estonian origin goods made up 86% of Estonian exports to the Netherlands in 2017.

 Trade figures 2008-2017 (million EUR):

Year Export % of total export Import % of total import
2008 194,1 2,3 362,2 3,3
2009 160,5 2,5 257,4 3,5
2010 203,1 2,3 308,5 3,3
2011 319,4 2,7 465,2 3,7
2012 306,3 2,4 526,4 3,8
2013 281,3 2,3 449,5 3,3
2014 323,0 2,7 487,0 3,5
2015 375,0 3,2 721,0 5,5
2016 330,0 2,8 848 6,3
2017 472,0 3,7 873 5,9

Source: Statistical Office of Estonia

Major export articles in 2017:

  • Mineral products – 48,3%
  • Wood and articles of wood – 9,3%
  • Vegetable products – 6,8%

Major import articles in 2017:

  • Machinery and equipment – 51,7%
  • Vegetable products – 8,1%
  • Chemical products – 8%

Investments

According to Bank of Estonia, as of 31 December 2017 direct investments from the Netherlands totalled 1.55 billion euros , which equals ca 8% of all direct investments (FDI) made in Estonia. Netherlands has continuously been the third largest foreign investor in Estonia, after Sweden and Finland. Dutch investments have mainly been allocated into Estonia’s transport and inventory sector (28% of investments), real estate (18%), and professional, research and technical activities (11%).
According to the Estonian Business Register, there were around 315 100% or partially Dutch capital-based companies registered in Estonia as of April 1, 2015. The biggest Dutch companies in Estonia are Maxima Eesti OÜ, Alexela Logistics, Adven Eesti, Repo Vabrikud, Kunda Nordic Tsement, Starman, Tallinna Vesi. Some of these companies are not of Dutch origin, but have their headquarters registered in the Netherlands.

As of 31 December 2017, Estonian direct investments in the Netherlands totalled 194 million euros, which makes up 3% of all Estonia’s direct investments abroad (7th place). Investments have primarily gone to professional, research, and technical activity; financial and insurance activity; wholesale and retail trade; electrical energy supply; transport and inventory; information and communication; and real estate.

Due to increasing interest of Estonian companies in the Netherlands, Enterprise Estonia (EAS) opened its Representative Office in the Netherlands (near Rotterdam) in 2014, which is manned by an export adviser (Thijs de Neeve).

Tourism

Estonia was visited by around 50 000 tourists from the Netherlands in 2016, which is an increase of 5000 compared to the year before. The average Dutch tourist spent a little more than 3 days in Estonia. The number of Dutch tourists visiting Estonia doubled during the years of 2010-2013 from 25 000 to nearly 50 000.

Record number of 70 000 Estonian tourists visited the Netherlands in 2016. In 2015 the number was around 69 000. Average stay in the Netherlands lasted appr 2,8 days. The number of Estonians visiting the Netherlands has for many years exceeded the amount of Dutch tourists visitiing Estonia.

Source: Bank of Estonia