Estonia is a valued trading partner of Switzerland. Swiss exports to Estonia have grown by 181% since 2011 and amounted to 285 million in 2021. This confirms once again that Estonia is an important market. Estonia’s exports are more modest and accounted for only CHF 80.16 million in 2020. Switzerland exported mainly precious stones/precious metals/jewellery, pharmaceuticals and machinery (79.3% of total exports to Estonia), while most Swiss imports from Estonia were electrical machinery, furniture as well as agricultural products (52.2% of total imports from Estonia).
Until 2017, Switzerland supported Estonia, within the framework of the EU enlargement contribution, in a total of 18 projects with almost CHF 40 million.
Estonia is very innovative in terms of information technologies and a pioneer in Europe. For this reason, Switzerland is interested in exchanging experiences. Swiss delegations that want to learn more about Estonia’s innovative IT achievements are now quite regular visitors. In 2018, two cantonal governments, the Director General of the Customs Administration and in 2019 ComCom/Bakom already visited Estonia.
Covid-19 also hit Estonia hard like the other countries. In 2020, the economic downturn was 2.9%, which is twice smaller than the EU average. Nevertheless, Estonia was able to increase its market share in foreign markets even during the Covid-19 pandemic.
RELEVANT INFORMATIONS AND CONTACTS
Market informations Switzerland Global Enterprise: Economic report SECO, Business Guide, Basic Addresses, Legal Provision
Estonia Investment Agency: EIA
Country responsible Estonia at SEC: Oliver Bertschinger