The economic relations between France and Estonia are developing stably. The trade turnover between Estonia and France has steadily risen during the last 3 years and reached 590 million euros in 2017 (+ 22,9% in comparison with 2016). France was 13th among the main trade partners in 2017 and 13th among export partners as well (+31% in comparison with 2016). The increase in export was mainly due to the surge of exports of machinery and equipment (+25 million euros), chemical products (+19 million euros) and wood and wood products (+5 million euros).
France was ranked 12th among Estonia´s major import partners, as import grew 17% compared to 2016. The rise in imports concerned chemical products (+76 million euros) and transportation vehicles (+26 million euros) above all.
Estonia-France trade from 2012-2018 (in millions of euros):
|Year||Export||Share of total exports||Import||Share of total imports||Turnover||Share of total turnover|
All economic figures originate from the Statistics Estonia.
Estonian export to France concerns machinery and equipment above all (phones, electrical switching devices and interrupters; remote controls and panels, monitors; special purpose equipment and mechanisms) (accounted for 23% of total exports in 2017). The second biggest article of export is wood and wood products (16%). In addition to these, Estonia exports chemical products (12%) and other industrial goods) (11%).
Exports from France to Estonia include transportation vehicles (accounted for 25% of total imports), machinery and equipment (19%), chemical products (14%) and prepared foods and beverages (13%).
According to Bank of Estonia data, as of 31 March 2018 France was 12th among Estonia’s foreign investors (with 368,7 million euros or 1.9% of investments). French direct investment has gone up 15% in the course of last year. Investments have been made to real estate, manufacturing industry, vocational, scientific and technical activities; financial and insurance related activity.
As of 31 March 2018, Estonia’s direct investments in France totaled 47.1 million euros, which made up 0.7% of all Estonia’s investments abroad (18th), constituting a 5,6% increase compared to the same time last year). Primarily, investments were made to manufacturing industry, wholesale and retail trade, information and communication, financial and insurance related activity, real estate and vocational, scientific and technical activities.
The number of French tourists accommodated in Estonia has risen from year to year: from 23 thousand in 2013 to close to 34 thousand in 2017. Most tourists stayed in Tallinn; other popular regions were Tartumaa, Pärnumaa and Saaremaa.