Exports of services reached a record high in the fourth quarter
According to Statistics Estonia and Eesti Pank, in the fourth quarter of 2023, Estonia’s exports of services grew by 5% and imports by 7% compared with the same quarter of 2022. Sales of services to non-residents totalled 3.1 billion euros and purchases of services from non-residents amounted to 2.3 billion euros at current prices. Total exports of services increased by 9% and imports by 8% last year.
Jane Leppmets, analyst at Statistics Estonia, said that exports of services have never been as high as in the fourth quarter of last year. “Estonian enterprises supplied services to non-residents for more than 3 billion euros. The balance of foreign trade in services was in surplus by 716 million euros in the fourth quarter, which helped to cover the deficit in trade in goods,” Leppmets added.
The main services exported in the fourth quarter were other business services (incl. other business support services) for 934 million euros. This was followed by exports of telecommunications, computer and information services (incl. computer programming and consultancy) for 793 million euros and exports of transport services (incl. road freight transport) for 617 million euros. Compared with the fourth quarter of 2022, the biggest increase occurred in the exports of telecommunications, computer and information services, other business services, and travel services. The biggest fall was registered in the exports of transport services.
In the fourth quarter of 2023, Finland was the top partner country for exports of services (16% of total exports). The main services supplied to Finland were travel services. Finland was followed by Germany (8%), with other business services being the biggest export item, and the United States (8%), where Estonian enterprises exported primarily telecommunications, computer and information services. The biggest rise was recorded in exports of services to Germany (up by 72 million euros), where Estonian enterprises supplied a greater amount of transport services. The biggest fall was seen in exports of services to Latvia (down by 37 million euros), to which less other business services were sold than before.
The most imported services in the fourth quarter were other business services (incl. other business support services), worth 766 million euros, followed by transport services (incl. sea freight transport) for 607 million euros, and telecommunications, computer and information services (incl. computer programming and consultancy) for 468 million euros. Compared with the same quarter of 2022, the biggest rise occurred in the imports of other business services, telecommunications, computer and information services, and travel services. Purchases of transport services decreased the most.
The top partner countries for imports of services in the fourth quarter were Germany, Finland, and Lithuania (each accounting for 8% of Estonia's total imports). The main services purchased were other business services from Germany and Lithuania and transport services from Finland. The biggest rise was recorded in imports of services from the United Arab Emirates (up by 49 million euros), due to increased purchases of transport services. The biggest decline occurred in imports of services from Portugal (down by 14 million euros), due to decreased purchases of other business services.
In 2023, Estonia’s exports of services totalled 11.7 billion euros and imports 9.1 billion euros. Other business services, transport services, and telecommunications, computer and information services accounted for the largest shares of both exports and imports. The trade of telecommunications, computer and information services, other business services, and travel services grew the most. The biggest fall was registered in the exports and imports of transport services. Estonia's top partner countries for exports of services in 2023 were Finland, Sweden and Germany, and its main partners for imports were Germany, Finland and Lithuania.
| Country of destination, group of countries | Exports, million euros | Share, % | Change on previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change on previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 3,060 | 100 | 5 | TOTAL | 2,344 | 100 | 7 |
| EU-27 | 2,070 | 68 | 8 | EU-27 | 1,659 | 71 | 6 |
| Euro area 20 | 1,630 | 53 | 10 | Euro area 20 | 1,305 | 56 | 5 |
| Non-EU | 990 | 32 | -2 | Non-EU | 686 | 29 | 8 |
| 1. Finland | 494 | 16 | 7 | 1. Germany | 197 | 8 | 14 |
| 2. Germany | 240 | 8 | 43 | 2. Finland | 193 | 8 | -1 |
| 3. USA | 240 | 8 | 39 | 3. Lithuania | 181 | 8 | 19 |
| 4. Sweden | 224 | 7 | 0 | 4. Latvia | 151 | 6 | 10 |
| 5. United Kingdom | 156 | 5 | -3 | 5. United Kingdom | 133 | 6 | 21 |
| 6. Lithuania | 154 | 5 | -6 | 6. Sweden | 132 | 6 | 6 |
| 7. Latvia | 149 | 5 | -19 | 7. Ireland | 106 | 5 | 11 |
| 8. Ireland | 104 | 3 | 81 | 8. Poland | 98 | 4 | 20 |
| 9. Netherlands | 101 | 3 | 2 | 9. USA | 94 | 4 | 28 |
| 10. France | 79 | 3 | 18 | 10. Netherlands | 93 | 4 | 23 |
| Type of service (according to EBOPS 2010) | Exports of services | Imports of services | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| Million euros |
Share, % |
Change on previous year, % | Million euros | Share, % | Change on previous year, % | ||
| TOTAL | 3,060 | 100 | 5 | 2,344 | 100 | 7 | 716 |
| Manufacturing services on physical inputs owned by others (SA) | 99 | 3 | 12 | 39 | 2 | 2 | 60 |
| Maintenance and repair services n.i.e. (SB) | 64 | 2 | 18 | 34 | 1 | 5 | 29 |
| Transport (SC) | 617 | 20 | -10 | 607 | 26 | -6 | 10 |
| Travel (SD) | 318 | 11 | 6 | 276 | 12 | 8 | 42 |
| Construction (SE) | 95 | 3 | -8 | 22 | 1 | 1 | 73 |
| Insurance and pension services (SF) | 5 | 0 | -2 | 16 | 1 | 11 | -11 |
| Financial services (excl. insurance and pension services) (SG) | 55 | 2 | 37 | 41 | 2 | -2 | 14 |
| Charges for the use of intellectual property n.i.e. (SH) | 32 | 1 | 40 | 27 | 1 | 43 | 5 |
| Telecommunications, computer and information services (SI) | 793 | 26 | 17 | 468 | 20 | 13 | 324 |
| Other business services (SJ) | 934 | 31 | 4 | 766 | 33 | 13 | 168 |
| Personal, cultural and recreational services (SK) | 39 | 1 | 10 | 36 | 1 | 54 | 3 |
| Government goods and services (SL) | 10 | 0 | -30 | 12 | 0 | 29 | -2 |
Statistics Estonia collects and analyses the data on foreign trade in services in cooperation with Eesti Pank, as commissioned by the Ministry of Economic Affairs and Communications, with the aim to determine how exporting and importing enterprises are performing in Estonia.
See also the foreign trade section on our website.
More detailed data have been published in the statistical database. Due to rounding, the sum of rows in some tables may differ from the sum total of the column.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Kai Kaljumäe
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9184
press [at] stat.ee (press[at]stat[dot]ee)