The growth of Finnish economy in the first quarter of 2017 has a positive effect on Estonia
Publishedо 30 May, 2017
The impact of Finland on Estonian economy can be called decisive. 18% of the Finnish products are sold in Estonia, almost half of all tourists visiting Estonia come from Finland. A quarter of all foreign investments in Estonia are made by Finland. Also, more than half of the subsidiaries of foreign companies in Estonia have the parent company in Finland. So, unexpectedly rapid growth of economic indicators of Finland during the first quarter of 2017 immediately affected the situation in Estonia.
Recent years economic growth in Finland was among the lowest in the European Union, that forced Estonians who worked there to return home. This affected, in particular, unemployment rates in Estonia. The low growth indicators in Finland affected the exports of Estonian goods to Finland. However, according to the latest statistics, in the first quarter of 2017, the export from Estonia to Finland grew by 11% (last year this figure was 3%). This year economists expect that Finland will regain its role as the main trading partner of Estonia, which was filled by Sweden in 2011. To date, the export of Estonian goods to Finland reached the same level as the Estonian export to Sweden.
Source: rus.delfi.ee
Recent years economic growth in Finland was among the lowest in the European Union, that forced Estonians who worked there to return home. This affected, in particular, unemployment rates in Estonia. The low growth indicators in Finland affected the exports of Estonian goods to Finland. However, according to the latest statistics, in the first quarter of 2017, the export from Estonia to Finland grew by 11% (last year this figure was 3%). This year economists expect that Finland will regain its role as the main trading partner of Estonia, which was filled by Sweden in 2011. To date, the export of Estonian goods to Finland reached the same level as the Estonian export to Sweden.
Source: rus.delfi.ee
