Economic Relations

Estonian – Canadian trade 2011-2018 (in million euros)

Turnover Export Import* Balance
2011 128.7 53.6 75.1 -21.5
2012 88.1 77.6 10.5 67.1
2013 33.8 24.9 8.9 16
2014 92.8 79.1 13.7 65.4
2015 92.3 79.9 12.3 67.6
2016 113,4 89,1 24,3 64,8
2017 112,2 98,0 14,2 83,8
2018 140,6 126,4 14,2 112,6

* import is calculated on the basis of the sending country

Economic relations between Estonia and Canada are not very close they are improving. In 2013, Canada was Estonia’s 40th trade partner in terms of trade volume and trade with Canada accounted for only 0.1% of the total trade volume. In 2018, the share of trade with Canada was 0.46% of the total volume and Canada was Estonia’s 27th trade partner.

Estonia’s primary export articles to Canada in 2018 were predominantly mineral products (mineral fuel, mineral oils, and products from their distillation) (42.9%) and machines and equipment (38.4%). Other important articles were industrial products (6.2%) and pre-made food products and drinks (5.7%).

Estonia’s primary import articles from Canada in 2018 were machines and equipment (30.0%), animal products (17.5%), metals and metal products (13.6%) and transportation vehicles (11.0%).

There are 73 companies with at least partial Canadian-ownership (as of May 2017). According to the Bank of Estonia, Estonia’s direct investment position in Canada as of 31.12.2015 was 0.4 million euros. Canada’s direct investment position in Estonia as of 31.12.2015 was 53.1 million euros, which makes up 0.3% of all direct investments in Estonia. Investments have primarily been made in real estate activity, wholesale and retail trade, and the professional, research and technical activity sector.

The Canadian business delegations that have visited Estonia, have been interested in learning about Estonia’s e-government and e-health care systems, as well as the logistics and tourism sector.