Trade and economic cooperation

Estonia is an important trading partner of the Republic of Belarus in the Nordic region.

In 2021 the trade between Belarus and Estonia amounted to $ 191,5 million. Belarusian exports to Estonia amounted to 148,1 million dollars, imports — 43,5 million dollars.

Dynamics of commodity turnover of the Republic of Belarus and the Republic of Estonia (in millions of dollars): 2016 — 105,6; 2017 — 112,8; 2018 — 180,0; 2019 — 140,2; 2020 — 165,1; 2021 — 191,5.

Dynamics of exports of Belarusian goods to Estonia (in millions of dollars): 2016 — 64,4; 2017 — 84,5; 2018 — 144,3; 2019 — 108,0; 2020 — 93,1; 2021 — 148,1.

The export structure in 2021 was dominated by supplies of woodworking (timber, plywood, fiberboard, furniture), metallurgy (wire, rebar), processing (meal, rapeseed oil, alcoholic beverages), petrochemical and light industries products, as well as mechanical engineering products.

In the commodity structure of imports from Estonia the largest share was taken by supplies of cocoa paste, frozen fish, certain types of electrical equipment, medicines, machinery and mechanisms.

In 2021, the volume of bilateral trade in services reached $197.8 million (144.5% compared to 2020), including exports — $113.8 million (115.5%). The main types of services exported to Estonia were transport services; computer, telecommunication and information services.

In 2021, Estonian investments in the amount of $62.4 million were attracted to the economy of the Republic of Belarus, of which $30.2 million were direct investments.

Estonia joined the West's unilateral illegal sanctions against Belarus, which caused a significant reduction in the level of trade and economic cooperation between the countries.