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Country Report Estonia

  • ID: 2114012
  • January 2016
  • Region: Estonia
  • 67 Pages
  • The Economist Intelligence Unit
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The Baltic states suffered disproportionately in 2015 from the sharp contraction in the Russian economy and Russia's import ban on EU foodstuffs. Lithuania and Estonia were the worst hit, but all three states saw a sharp deterioration in their export performance. In 2016 we expect the effects of the fall in Russian demand to be much weaker as the Russian economy stabilises, Baltic export market diversification bears fruit and growth in some of the countries' other traditional trading partners picks up. As the Baltics are small, open economies, this will contribute to a strengthening of growth in all three states this year.

In January-November 2015 exports from Latvia grew by 1.2% year on year, in euro value terms. In the same period, exports from Lithuania fell by 5.7% and exports from Estonia fell by 4%. In all three states this marks a significant deterioration compared with 2014, when export earnings rose by 2.3% in Latvia, but fell by 0.7% in Lithuania and 1.7% in Estonia. Moreover, since exports accounted for 58% of GDP in Latvia in 2014, and a very high 82% in Lithuania and 83% in Estonia, the downturn in export growth last year has had an impact on overall GDP growth. READ MORE >

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Country Report Estonia

Brighter outlook for exports in 2016
Russia's outsized impact on the Baltic external sector
The oil price fall depressed export earnings
Improved export outlook for 2016
Key risks: oil price developments and the future of the Schengen area

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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